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Sanstar IPO
Sanstar Ltd
₹13,500 /150 sharesMinimum Investment
Sanstar IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 19 Jul ‘24 - 23 Jul ‘24 | ₹13,500 | 150 | ₹90 - ₹95 |
| Issue Size | IPO Doc |
|---|---|
| 510.15Cr | RHP PDF |
Subscription rate
As of 23 Jul'24, 04:00 PM
| Qualified Institutional Buyers | 122.57x |
| Non-Institutional Investor | 133.73x |
| Retail Individual Investor | 22.48x |
| Total | 74.91x |
About Sanstar
Founded in
1982
Managing director
Mr. Gouthamchand Sohanlal Chowdhary
Parent organisation
Sanstar Ltd
Strengths & Financials of Sanstar
Strengths
Risks
As of FY24, Sanstar Limited has a presence in 22 states of India and has exported its products to 49 countries across Asia, Africa, the Middle East, the Americas, Europe, and Oceania.
The company's Dhule and Kutch units hold ISO 9001:2015 certification for quality management systems, while the Dhule unit holds the FSSAI’s FSSC 22000:2018 certification too.
The company’s profit after tax (PAT) has increased steadily over the years, from Rs 15.92 crore in FY22 to Rs 41.80 crore in FY23 to Rs 66.77 crore in FY24.
Sanstar Limited has two manufacturing facilities. These are located in two different states – Gujarat and Maharashtra. In case of any negative developments in one state, this diversification of its manufacturing facilities is a positive for the company’s business.
Sanstar is currently involved in several legal proceedings. Any negative judgements in these cases could hurt the company’s business prospects.
The company’s products are used by specific industries. Any reduction in the demand for these products from such industries could result in a loss of business and profits for Sanstar.
Sanstar uses maize as the primary raw material for its products. However, maize is experiencing increased demand from feed manufacturers, ethanol manufacturers, and food and beverage industries. This could strain the supply of maize, causing problems for Sanstar to meet its commitments to clients.
As of March 31, 2024, the company had borrowings of Rs 127.64 crore. Any failure to service or repay these borrowings on time can hurt the company’s business operations and financial status.
Sanstar is dependent on a limited number of local farmers for the supply of raw materials for its manufacturing units. Any disruption in supplies can hit the company’s business.
In fiscal years 2024, 2023, and 2022, the western region of India accounted for Rs 504.20 crore (70.45%), Rs 663.43 crore (75.14%), and Rs 410.34 crore (82.69%) of total revenues. Any disruption in business from this concentrated geographical area could hurt the company’s business.
Sanstar Financials
*All values are in Rs. Cr
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Application Details of Sanstar IPO
| Apply as | Price band | Apply upto |
|---|---|---|
| Regular | ₹90 - 95 | ₹2 Lakh |
| High Networth Individual | ₹90 - 95 | ₹2 - 5 Lakh |
For Sanstar IPO, eligible investors can apply as Regular.