July 23, 2024
New Delhi, India
IPO Watch
Sanstar Ltd’s IPO has garnered significant attention from investors, with strong subscription numbers leading up to the final bidding day. As the IPO reaches its last day, potential investors are keen to understand whether they should subscribe. Here’s a comprehensive look at the subscription status, GMP, expert reviews, and other essential details.
Sanstar IPO Subscription Status: The second day of Sanstar Ltd’s IPO saw continued strong interest, especially from non-institutional investors (NII) and retail investors. The overall subscription status reached 13.48 times by the end of Day 2, as per BSE data.
- Non-Institutional Investors (NII): 32.85 times
- Retail Individual Investors (RII): 12.15 times
- Qualified Institutional Buyers (QIBs): 1.29 times
On the first day of bidding, July 19, the IPO was subscribed 4.16 times. The allocation of shares includes 15% for NIIs, 50% for QIBs, and 35% for retail investors. Sanstar also raised ₹153 crore from anchor investors.
Sanstar IPO Details: Sanstar Ltd aims to raise ₹510.15 crore through its IPO, consisting of an offer-for-sale (OFS) and a fresh issue of equity shares.
- Offer-for-Sale (OFS): 1.19 crore shares valued at ₹113.05 crore by the promoters.
- Fresh Issue: 4.18 crore equity shares valued at ₹397.1 crore by the company.
Prominent sellers through OFS include Richa Sambhav and Samiksha Shreyans Chowdhary (33 lakh shares each), Rani Gouthamchand Chowdhary (38 lakh shares), and other promoters offloading smaller amounts.
Use of Proceeds: The proceeds from the fresh issue will be utilized for:
- Expanding the Dhule Facility.
- Repaying and/or prepaying some of the company’s borrowed funds.
- General corporate purposes.
Sanstar IPO GMP Today: Sanstar IPO’s grey market premium (GMP) is +30, indicating a premium of ₹30 over the issue price of ₹95. Based on this, the estimated listing price is around ₹125 per share, representing a 31.58% increase. The GMP has shown an upward trend over the last 11 sessions, suggesting a strong listing.
With strong investor interest and a positive GMP, Sanstar Ltd’s IPO presents a compelling opportunity. As the last bidding date approaches, potential investors should consider the expert reviews and current market trends. Subscribing to the IPO could yield substantial returns given the company’s solid financials and growth prospects.
Disclaimer:
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