Sanstar Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
Participate in the Sanstar Ltd IPO with full transparency. Review issue details, company fundamentals, and financial performance, and apply securely through Alice Blue.
IPO Snapshot
Key metrics and details at a glance.
Price Band
₹95
Per ShareLot Size
150 Shares
Minimum Investment
₹14,250
Issue Size
₹510.15 Cr
Face Value
₹2
Per ShareIPO Type
Book Building
Retail Quota
35%
QIB Quota
50%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Sanstar Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
57.22%
Issue Type
Book Building
ISIN
INE08NE01025
About the Company
Sanstar Limited is one of the major manufacturers of plant based speciality products and ingredient solutions in India for food, animal nutrition and other industrial applications. Its products include liquid glucose, dried glucose solids, maltodextrin powder, dextrose monohydrate, native maize starches, modified maize starches and co-products like germs, gluten, fiber and enriched protein, amongst others.
Industry Overview
The Global maize based speciality products and ingredients solutions industry is estimated to be valued at $ 45,195 million in calendar year 2023 and is estimated to grow to $ 58,021 million in calendar year 2029. Similarly, the Indian industry is estimated to be valued at $ 3,121 million in calendar year 2023 and is estimated to grow to $ 4,210 million in calendar year 2029.
Company History
Sanstar Limited was originally incorporated as `Continental Papers Limited' under the Companies Act, 1956, as a public limited company, pursuant to the certificate of incorporation dated February 26, 1982 issued by the Registrar of Companies, Delhi & Haryana. The name of the Company was subsequently changed to `Sanstar Limited', pursuant to resolution passed by the board of directors on March 9, 2012 and approved by the shareholders in their EGM held on March 16, 2012 and a fresh certificate of incorporation dated April 2, 2012, consequent upon change of name was issued by the Registrar of Companies, Delhi & Haryana.
Products & Services
- Sanstar Limited is one of the major manufacturers of plant based speciality products and ingredient solutions in India.
Growth Strategy
- Expand its manufacturing capacities to capture additional market share.
- Leverage its industry-leading capabilities by continuing to diversify its customer base and increase wallet share with existing customers.
- Increase its global footprint and augments growth in current geographies.
- Increase the revenue contribution from derivative products and scale up organic ingredients segment.
- Foray into manufacturing of Ethanol through leveraging its maize sourcing capabilities.
Customer Base
Wholesaler and Retailer
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a standalone basis, as reported for FY23 to FY25.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offer of 53,700,000 equity shares of face value Rs. 2/- each ("Equity Shares") of Sanstar Limited for cash at a price of Rs. 95/- per equity share (including a share premium of Rs. 93/- per equity share) (the "Offer Price"), aggregating to Rs. 510.55 crores comprising of a fresh issue of 41,800,000 equity shares aggregating to Rs. 397.10 crores by the company ("Fresh Issue") and an offer for sale of 11,900,000 equity shares aggregating to Rs. 113.05 crores comprising of 500,000 equity shares by Gouthamchand Sohanlal Chowdhary aggregating to Rs. 4.75 crores, 3,800,000 equity shares by Rani Gouthamchand Chowdhary aggregating to Rs. 36.10 crores, 500,000 equity shares by Sambhav Gautam Chowdhary aggregating to Rs. 4.75 crores, 500,000 equity shares by Shreyans Gautam Chowdhary aggregating to Rs. 4.75 crores, 3,300,000 equity shares by Richa Sambhav Chowdhary aggregating to Rs. 31.35 crores and 3,300,000 equity shares by Samiksha Shreyans Chowdhary aggregating to Rs. 31.35 crores ("The Offer for Sale"). The offer constituted 29.47 % of the post-offer paid-up equity share capital of the company. The face value of the equity shares is Rs. 2/- each. The offer price is 47.50 times the face value of the equity shares.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- One of the largest manufacturers of maize based speciality products and ingredient solutions in India with diverse product portfolio.
- Speciality products and ingredients solutions player catering to diverse industry segments and poised to benefit; from mega industrial trends.
- Its strategically located, sustainability driven, state of the art manufacturing facilities.
- Global presence in a market with high entry barriers.
- Strong financial growth alongwith robust performance metrics.
- Any fluctuations in the prices of its raw material may adversely affect the pricing of the company products and may have an impact on its business, results of operation, financial condition and cash flows.
- The company has not entered into any long term contracts with suppliers for its raw materials and an increase in the cost of, or a shortfall in the availability of such raw materials or its inability to leverage existing or new relationships with its suppliers could have an adverse effect on the company's business and results of operations.
- During the peak arrival season of maize harvesting, the Company procures and stores significant quantities of maize which is the primary raw material required for the manufacturing of the Company's products and for the purpose of doing the same significant amount of working capital is required. Its inability to meet the said working capital requirement during the peak harvesting season of maize may have an adverse effect on its results of operations and overall business.
- There are pending litigations involving the Company. Any unfavourable order or decision in such proceedings may render affect its results of operations.
- The Company sells its products for specific use by certain industries. Any reduction in the demand or requirement of its products in such industries may result in loss of business and may affect its financial performance and condition.