Sanstar share price made a positive debut on the bourses today. On NSE, Sanstar share price today opened at ₹109 per share, 14.73% higher than the issue price of ₹95. On BSE, Sanstar share price today opened at ₹106.40 apiece, up 12% than the issue price.
Market experts anticipated Sanstar share price to open in the range of ₹125 to ₹130 apiece.
On Friday, July 19, subscriptions for the Sanstar IPO began, and they ended on Tuesday, July 23. On the final day of bidding, Sanstar IPO subscription status was 82.99 times.
The response from qualified institutional buyers (QIBs) was overwhelming on the last day of the Sanstar IPO auction. Non-institutional investors (NIIs) outperformed retail investors on the third day. According to BSE data, the Sanstar IPO received 82.99 times as many subscriptions from investors. QIBs booked 145.68 times, compared to 136.50 subscriptions from NIIs. The number of subscriptions for the retail investors section was 24.23 times.
Sanstar Limited produces unique plant-based goods and ingredient solutions for pet food, food, and other industrial uses.
Liquid glucose, dried glucose solids, maltodextrin powder, dextrose monohydrate, native and modified maize starches, and by-products such germ, gluten, fiber, and fortified proteins are among the items offered by the firm.
The company aims to raise ₹510.15 crore through its IPO. The IPO comprises of a new issue of 4.18 crore equity shares valued at ₹397.1 crore by the business and an offer-for-sale (OFS) of 1.19 crore shares priced at ₹113.05 crore by the promoters.
Rani Gouthamchand Chowdhary would sell 38 lakh equity shares through the OFS, while Richa Sambhav and Samiksha Shreyans Chowdhary will each sell 33 lakh shares. Gouthamchand Sohanlal Chowdhary, Sambhav Gautam Chowdhary, and Shreyans Gautam Chowdhary are the other selling shareholders among the promoters; they are each offloading5 lakh shares.
The net proceeds of the new issuance are expected to be used for general corporate purposes, repayment and/or prepayment of some or all of the company's borrowed funds, and funding the capital expenditure required to extend the Dhule Facility.
Pantomath Capital Advisors Private Ltd is the only company managing the book running lead, and Link Intime India Private Ltd is the registrar for the offer.
Sanstar IPO grey market premium is +25. This indicates Sanstar share price were trading at a premium of ₹25 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Sanstar share price was indicated at ₹120 apiece, which is 26.32% higher than the IPO price of ₹95.
Today's IPO GMP is rising and suggests a strong listing, based on activity in the grey market over the last 14 days. A study by investorgain.com indicates that the lowest GMP is ₹0 and the highest is ₹44.
'Grey market premium' indicates investors' readiness to pay more than the issue price.'
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