July 22, 2024
New Delhi, India
Sanstar Limited IPO
Sanstar Limited’s initial public offering (IPO), which opened on July 19, 2024, has garnered significant attention from investors. With a strong response in the primary market, the IPO’s grey market premium (GMP) has seen a notable increase. Here’s a detailed look at the current status and key aspects of the Sanstar Limited IPO.
IPO Details:
- Opening Date: July 19, 2024
- Closing Date: July 23, 2024
- Price Band: ₹90 to ₹95 per equity share
- Total Issue Size: ₹510.15 crore
- Fresh Issue: ₹397.10 crore
- Offer for Sale (OFS): ₹113.05 crore
- Listing: BSE and NSE
Subscription Status: The Sanstar Limited IPO has received an overwhelming response from investors. By the end of the first day of bidding, the issue was subscribed 4.16 times. As of 10:42 AM on the second day, the subscription status was as follows:
- Overall Subscription: 6.53 times
- Retail Portion: 6.30 times
- Non-Institutional Investors (NII): 15.69 times
- Qualified Institutional Buyers (QIB): 0.05 times
GMP Movement: The GMP for Sanstar Limited shares has seen a rise, reflecting positive market sentiment:
- GMP Today: ₹46
- GMP on Friday: ₹42
Market observers have noted the increase in GMP despite generally weak sentiments on Dalal Street, attributing this rise to the robust subscription status after the first day of bidding. The strong demand and small size of the issue are expected to further boost investor interest.
Important Dates:
- IPO Closing Date: July 23, 2024
- Allotment Date: July 24, 2024
- Listing Date: July 26, 2024 (subject to T+3 listing rule)
Sanstar Limited’s IPO has made a strong start with significant investor interest and a rising GMP, indicating high expectations for its market debut. As the subscription period continues, the IPO is anticipated to maintain its momentum, making it a noteworthy event for market participants.
Disclaimer:
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