Sanstar IPO subscribed 81 times so far on last day

23 Jul 2024 , 03:50 PM

The last bidding day of Sanstar Ltd’s IPO was packed with action, with Qualified Institutional Buyers (QIB) leading the way with large subscription numbers, followed by NIIs and retail investors who expressed strong interest in the issue. According to BSE data, the subscription rate for the Sanstar IPO was 81.03 times as of 3:45 pm.

Non-institutional investors placed 135.02 times subscriptions and Retail Individual Investors (RIIs), who placed 22.89 times subscriptions. The segment earmarked for Qualified Institutional Buyers (QIBs) garnered 142.18 times the subscription.

On the first bidding day, Friday, July 19, the issue was booked 4.16 times. The company has set aside 15% of its shares for NIIs, 50% for QIBs, and 35% for regular investors. Sanstar raised Rs 153 crore from anchor investors.

Sanstar Ltd specialises in plant-based specialist goods and new ingredient solutions. They are India’s fifth-largest manufacturer of maize-based speciality products and ingredient solutions. With an installed capacity of 3,63,000 tonnes per year, they serve the food industry, animal nutrition, and a wide range of industrial applications.

The company’s first public offering hopes to raise 510.15 crore. The IPO includes an offer-for-sale (OFS) of 1.19 crore shares valued at ₹113.05 crore by the founders and a fresh issue of 4.18 crore equity shares worth ₹397.1 crore by the firm.

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