Sanstar Announces Initial Public Offering (IPO) Details
Leading specialty products and ingredients provider, Sanstar, will commence its initial public offering (IPO) from July 19, 2024. The bid window will remain open until July 23, 2024.
Issue Details:
* Price band: Rs. 90-95 per share
* Issue size: Rs. 510.15 crore
* Fresh issue: 4.18 crore equity shares (Rs. 397.1 crore)
* Offer for Sale (OFS): 1.19 crore equity shares (Rs. 113.05 crore)
Promoter and Shareholder Participation:
* Rani Gouthamchand Chowdhary: 38 lakh shares
* Richa Sambhav Chowdhary: 33 lakh shares
* Samiksha Shreyans Chowdhary: 33 lakh shares
* Gouthamchand Sohanlal Chowdhary, Shreyans Gautam Chowdhary, Sambhav Gautam Chowdhary: 5 lakh shares each
Allocation and Utilization of Funds:
* 50% of the issue size to qualified institutional investors
* 35% to retail investors
* 15% to non-institutional investors
* Rs. 181.6 crore for expanding Dhule facility
* Rs. 100 crore for debt repayment
* Remainder for general corporate purposes
Financial Performance:
* Net profit in FY24: Rs. 66.8 crore (60% YoY increase)
* EBITDA in FY24: Rs. 98.1 crore (35.5% YoY increase)
IPO Timeline:
* Final allotment: July 24, 2024
* Stock market debut: July 26, 2024
Book-Running Lead Manager: Pantomath Capital Advisors
Registrar: Link Intime India
