Sanstar Raises Rs 153 Crore From Anchor Issue In Pre-IPO Fundraise
Sanstar Ltd. has raised Rs 153 crore from anchor investors ahead of its initial public offering. The company has allotted 1.6 crore shares at Rs 95 apiece to 12 anchor investors, according to an exchange filing on Thursday.
Gagandeep Credit Capital Pvt. has bagged the highest allocation of 22.87%.
Top foreign investors include BofA Securities (5.23% share), Societe Generale (4.57%) and Minerva Ventures LLC (3.27%).
SBI General Insurance Co. was among the other marquee investors in the pre-IPO round of fundraising.
Two domestic mutual funds—Trust Mutual Fund and Bank of India Mutual Fund—had applied through a total of three schemes. They have collectively netted 22.87% of the anchor portion.
About Sanstar IPO
Plant-based specialty products company Sanstar's IPO will open for subscription on July 19 and close on July 23. It has set a price band of Rs 90–95 apiece.
The public issue consists of a fresh issue of 4.18 crore shares and an offer-for-sale component consisting of 1.19 crore shares, according to the red herring prospectus. On the upper end of the price band, the company is looking to raise Rs 510.15 crore via the maiden share sale.
The minimum lot size for bidding will be 150 shares, with further bids to be made in multiples, according to the prospectus.
Gouthamchand Sohanlal Chowdhary, Rani Gouthamchand Chowdhary, and Sambhav Gautam Chowdhary will be among the promoters offloading the shares.
Sanstar is one of the major manufacturers of plant-based specialty products and ingredient solutions in India. The company's specialty products include liquid glucose, dried glucose solids, maltodextrin powder, dextrose monohydrate, and native maize starches, among others.
-
One El Nino, India Can Handle. Two Could Break The Granary
India's grain stocks can absorb one bad year, but a second El Nino could drain the buffer in two to three years, economists say.
-
India's Troika Of Good Luck | Joining The Dots
As Jensen Huang's exit drags Nvidia down, a cooling AI trade and resilient earnings have revived investor interest in India. A likely RBI rate hike looms.
-
Talking Points This Week: Leadership Shock At Nvidia, Earnings Strength, And The Fog Over Hormuz
The Anthropic IPO pricing and first trading day, Nvidia's upcoming earnings, and any fresh signals from Iran will set the tone for the following week.
-
Signature Play: The Classic Cocktail Is Dead. Or Is It?
Classic cocktails are disappearing from India's cocktail menus. But they're still being ordered, taught to bartenders and borrowed from. So, who's really having the last drink?
-
A New Samvat Wishlist: Inclusive Prosperity And Human Development
India has strengthened its economic foundations through infrastructure, digital access and enterprise. Its next growth chapter must deepen productivity, create better livelihoods and widen participation in prosperity.
-
Love, Sex Aur Dhokha: The Audacious Plot To Spy On Jensen Huang
A Taipei dinner, a Singapore chip buyer and a suspected Chinese asset: inside the alleged spy operation that got close to NVIDIA's Jensen Huang.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
