Sanstar Limited IPO

The Sanstar Limited IPO achieved a subscription rate of times The retail category subscribed times, the QIB category subscribed times, and the NII category subscribed times. Review the subscription details on a day-to-day basis (live status).

Sanstar Limited IPO opens on July 19, 2024 and closes on July 23, 2024.

Investors can bid for a minimum of 150 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

The promoters of the company are Gouthamchand Sohanlal Chowdhary, Sambhav Gautam Chowdhary, and Shreyans Gautam Chowdhary

Founded in 1982, Sanstar Limited manufactures specialty plant-based products and ingredient solutions for food, pet food and other industrial applications in India.

The company's product portfolio includes liquid glucose, dried glucose solids, maltodextrin powder, dextrose monohydrate, native maize starches, modified maize starches, and by-products such as germ, gluten, fiber and fortified proteins.

These products are used in:

1. Food products: as ingredients, thickeners, stabilizers, sweeteners, emulsifiers, and additives (including in baked goods, confectionery, pasta, soups, ketchup, sauces, creams and desserts);
2. Pet food products: as nutritional ingredients; and
3. Other industrial products: as disintegrants, excipients, supplements, coating agents, binders, smoothing and flattering agents, and refining agents.

The company has two manufacturing facilities covering a total area of 10.68 million square feet (approx 245 acres) at Dhule in the state of Maharashtra and Kutch in the state of Gujarat. With an installed capacity of 3,63,000 tons per annum (1,100 tons per day), the company is the fifth largest manufacturer of corn-based specialty products and ingredients in India.

The company exports its products to companies in 49 countries including Asia, Africa, the Middle East, America, Europe and Oceania. The company also has a pan-India presence where its products are sold in 22 states.

As of March 31, 2024, the company employed 271 people (including 60 permanent employees) at its plants in Kutch and Dhule and at its headquarters.

The Net Proceeds of the Fresh Issue, i.e., Gross Proceeds of the Fresh Issue less the offer expenses apportioned to the Company are proposed to be utilized in the following manner:

1. Funding the capital expenditure requirement for the expansion of the Dhule Facility;
2. Repayment and/or pre-payment, in part or full, of certain borrowings availed by the Company, and;
3. General Corporate Purposes.

• Sanstar Limited IPO DRHP
• Sanstar Limited IPO RHP

Sanstar Limited
Sanstar House, near Parimal Under Bridge,
Opp. Suvidha Shopping Centre, Paldi,
Ahmedabad – 380 007
Phone: +91 79 26651819
Email: cs@sanstar.in
Website: https://www.sanstar.in/

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

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