SANSTAR LTD (MAINBOARD)
Jul 19, 2024 - Jul 23, 2024
| Price | ₹90 - ₹95 |
| Premium | ₹25 |
|---|---|
| Lot size | 150 |
| Allotment | Jul 24, 2024 |
| Listing | Jul 26, 2024 |
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 150 | 14250 | 125300 |
| sHNI | 15 | 2250 | 213750 | 1193 |
| bHNI | 71 | 10650 | 1011750 | 2387 |
Last Updated as on 23-Jul-2024 17:54:00
| Category | Offered | Applied | Times |
|---|---|---|---|
| QIBs | 10740000 | 1564582800 | 145.68 |
| HNIs | 8055000 | 1099452900 | 136.49 |
| HNIs (10L+) | 5370000 | 802484550 | 149.44 |
| HNIs (2-10L) | 2685000 | 296968350 | 110.6 |
| Retail | 18795000 | 455352450 | 24.23 |
| Total | 37590000 | 3119388150 | 82.98 |
Application Wise Breakup (Approx) | |||
|---|---|---|---|
| Category | Reserved | Applied | Times |
| HNIs (10L+) | 2387 | 72025 | 30.17 |
| HNIs (2-10L) | 1193 | 126277 | 105.85 |
| Retail | 125300 | 2578037 | 20.57 |
| Total Applications: 2776339 | |||
| © IPO Premium | |||
| QIB Interest Cost per share (7 Days) | |||||
|---|---|---|---|---|---|
| @7% ₹18.58 | @8% ₹21.23 | @9% ₹23.89 | @10% ₹26.54 | @11% ₹29.2 | @12% ₹31.85 |
| Big HNI (10L+) Cost per lot (7 Days) |
|---|
| Assuming fix interest of ₹2000 per application Big HNI (10L+) costing for every 1 lot allotment is ₹59776 |
Sanstar IPO Details
| Issue Size | 53,700,000 shares (aggregating up to ₹510.15 Cr) |
| Fresh Issue | 41,800,000 shares (aggregating up to ₹397.10 Cr) |
| Offer for Sale | 11,900,000 shares of ₹2 (aggregating up to ₹113.05 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 140,444,250 |
| Share holding post issue | 182,244,250 |
Sanstar IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
Key Performance Indicator
| KPI | Mar-24 | Mar-23 | Mar-22 |
|---|---|---|---|
| ROE | 30.92% | 28.00% | 32.51% |
| ROCE | 25.43% | 23.82% | 23.19% |
| RONW | 30.92% | 28.00% | 32.51% |
| D/E | 0.5 | 0.6 | 1 |
| EPS (basic) | 4.75 | 2.98 | 1.08 |
| P/E Pre IPO | 19.98 | ||
| P/E Post IPO | 25.93 |
Company Financials
Sanstar Limited Financial Information (Restated Consolidated)
Sanstar Limited's revenue decreased by -10.58% and profit after tax (PAT) rose by 59.71% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|
| Assets | 527.57 | 368.35 | 207.45 |
| Revenue | 1,081.68 | 1,209.67 | 504.77 |
| Profit | 66.77 | 41.81 | 15.92 |
| Net Worth | 215.91 | 149.28 | 48.97 |
| Reserves | 225.18 | 158.41 | 55.69 |
| Borrowing | 127.64 | 111.70 | 85.22 |
| Amount in ₹ Crore | |||
About Company
Sanstar Limited, founded in 1982, is a prominent manufacturer of specialty plant-based products and ingredient solutions for various applications including food, pet food, and other industrial uses in India. The company's extensive product range comprises liquid glucose, dried glucose solids, maltodextrin powder, dextrose monohydrate, native and modified maize starches, and by-products like germ, gluten, fiber, and fortified proteins. These products serve as essential ingredients, thickeners, stabilizers, sweeteners, emulsifiers, and additives in food products such as baked goods, confectionery, pasta, soups, ketchup, sauces, creams, and desserts. In pet food, they provide nutritional benefits, while in industrial applications, they function as disintegrants, excipients, and supplements, coating agents, binders, smoothing agents, and refining agents. Sanstar operates two manufacturing facilities spanning a total of 10.68 million square feet (approximately 245 acres) in Dhule, Maharashtra, and Kutch, Gujarat, with an installed capacity of 3,63,000 tons per annum (1,100 tons per day), making it the fifth-largest producer of corn-based specialty products and ingredients in India. The company exports to 49 countries across Asia, Africa, the Middle East, America, Europe, and Oceania, and has a pan-India presence in 22 states. As of March 31, 2024, Sanstar Limited employs 271 people, including 60 permanent employees, at its plants and headquarters.
Strength Factors
Global Presence: Operates in 49 countries, overcoming high market entry barriers.
Strong Financial Growth: Demonstrates consistent financial stability and robust performance metrics.
Experienced Leadership: Managed by two generations of promoters with extensive domain knowledge.
Risk Factors
Raw Material Price Fluctuations: Changes in raw material prices can affect product pricing and impact business operations, financial condition, and cash flows due to the lack of long-term supplier contracts.
Supply Chain Risks: Increases in raw material costs or shortages, along with difficulties in leveraging supplier relationships, could adversely affect business operations and results.
Operational Disruptions: Any slowdown or shutdown of manufacturing operations at their facilities could negatively impact business, financial condition, and operational results.
Sanstar IPO Lead Manager(s)
- Pantomath Capital Advisors Pvt Ltd
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: sanstar.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html