Sanstar Limited IPO
Sanstar Limited IPO
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Sanstar Limited's successfully completed its Initial Public Offering and commenced trading on 26-07-2024 at the NSE, BSE exchange. The company raised 5,37,00,000 Shares through this public offering, comprising 4,18,00,000 Shares in fresh capital and ₹113.05 Cr through the Offer for Sale mechanism.
The IPO was priced within the band of ₹90 to ₹95, with minimum application lots of 150 shares. The offering attracted significant investor interest during its subscription period from 19-07-2024 to 23-07-2024.
Share allotment was finalized on 24-07-2024, distributing equity to successful applicants. The stock's subsequent listing marked a significant milestone in the company's corporate history, providing public market liquidity to shareholders.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Sanstar Limited IPO About Company
Founded in 1982, Sanstar Limited is a leading Indian manufacturer of specialty plant-based products and ingredient solutions for food, pet food, and industrial applications. Its extensive product portfolio includes liquid glucose, dried glucose solids, maltodextrin powder, dextrose monohydrate, native and modified maize starches, and by-products such as germ, gluten, fiber, and fortified proteins, serving as thickeners, stabilizers, sweeteners, emulsifiers, and functional additives. The company operates two manufacturing facilities in Dhule, Maharashtra, and Kutch, Gujarat, covering 10.68 million sq. ft. with an installed capacity of 363,000 tons per annum, making it India’s fifth-largest corn-based specialty ingredients producer. Sanstar exports to 49 countries across Asia, Africa, the Middle East, America, Europe, and Oceania, with a pan-India presence in 22 states, and as of March 31, 2024, employs 271 people, including 60 permanent staff.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Sanstar Limited IPO Strength Factors
- Global Reach: Active in 49 countries, successfully breaking into tough markets.
- Steady Financial Growth: Consistently strong performance with stable finances.
- Experienced Leadership: Led by two generations of promoters with deep industry expertise.
Sanstar Limited IPO Risk Factors
- Raw Material Price Changes: If raw material prices go up or down, product prices may change, which can affect business profits and cash flow, especially without long-term deals with suppliers.
- Supply Chain Challenges: Higher raw material costs, shortages, or weak supplier partnerships can hurt business operations and performance.
- Production Interruptions: Any slowdown or stoppage in manufacturing could harm business performance, profits, and overall operations.
Sanstar Limited IPO Lead Manager(s)
- Pantomath Capital Advisor Private Limited
Sanstar Limited IPO Promoter(s)
- Gouthamchand Sohanlal Chowdhary
- Sambhav Gautam Chowdhary
- Shreyans Gautam Chowdhary
Sanstar Limited IPO FAQs
Sanstar Limited IPO subscribed 82.98 times. The public issue subscribed 24.23 times in the retail category,145.68times in QIB, and 149.44 times in the HNI (10+) category byNovember 21, 2025 11:41:03 AM (Day 21).
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Sanstar Limited IPO IPO Investor Categories
The offer proceeds will be utilised towards the following investor categories in compliance with SEBI regulations:
Qualified Institutional Buyers (QIB)
Financial Institutions, Banks, FIIs, and Mutual Funds registered with SEBI are called QIBs. In most cases, QIBs represent small investors who invest through mutual funds, ULIP schemes, and pension schemes.
Non-Institutional Investors (NII / HNI)
Retail Individual Investors (HNI), NRIs, Companies, Trusts, etc. who bid for shares worth more than ₹2 lakhs are known as Non-Institutional Bidders. Unlike QIBs, they do not need SEBI registration.
Subcategories of NII:
- sNII (Small NII – bids below ₹10 Lakhs)
For bids between ₹2–10 lakhs. One-third of NII shares are reserved for this category, also known as Small HNI (sHNI).
- bNII (Big NII – bids above ₹10 Lakhs)
For bids above ₹10 lakhs. Two-thirds of NII shares are reserved for this category, also called Big HNI (bHNI).
- sNII (Small NII – bids below ₹10 Lakhs)
Retail Individual Investors (RII)
Individual investors or NRIs who apply up to ₹2 lakhs in an IPO are considered under the RII reserved category.
Employee (EMP)
A category of eligible employees who have a reserved quota in the IPO.
Others
This includes eligible shareholders or other investors with reserved quotas in the IPO.
Sanstar Limited IPO FAQs
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