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Sanstar Limited IPO Launches: Key Insights, Subscription Status, and Investment Potential - CurrencyVeda
November 22, 2024

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Sanstar Limited IPO Launches: Key Insights, Subscription Status, and Investment Potential

Editor Currencyveda04 mins
IPO

July 19, 2024

New Delhi, India

IPO Watch

Sanstar Limited’s initial public offering (IPO) has opened today, and it has already garnered significant attention from investors. The IPO will remain open until July 23, 2024. Here, we provide a comprehensive overview of the IPO, including its grey market premium (GMP), subscription status, key details, and whether it’s worth considering for investment.

Grey Market Premium (GMP): According to market observers, shares of Sanstar Limited are available at a premium of ₹42 in the grey market today. This indicates a strong initial interest among investors and suggests potential upside on listing.

IPO Subscription Status: As of 10:24 AM on day one of bidding, the IPO subscription status is as follows:

  • Overall subscription: 0.25 times
  • Retail portion: 0.29 times
  • Non-Institutional Investors (NII) segment: 0.48 times

Key Details of Sanstar Limited IPO:

  1. GMP: Shares are available at a premium of ₹42 in the grey market.
  2. Price Band: The IPO price band is set at ₹90 to ₹95 per equity share.
  3. IPO Dates: The IPO opened today and will remain open until July 23, 2024.
  4. IPO Size: The company aims to raise ₹510.15 crore from the IPO, with ₹113.05 crore reserved for offer for sale (OFS).
  5. Lot Size: Bidders can apply in lots, with one lot comprising 150 company shares.
  6. Allotment Date: Share allocation is expected on Wednesday, July 24, 2024.
  7. Registrar: Link Intime India Private Limited is the official registrar for the IPO.
  8. Listing: The IPO is proposed for listing on BSE and NSE.
  9. Listing Date: Following the ‘T+3’ listing rule, the IPO is likely to be listed on Friday, July 26, 2024.

Should You Buy? Investors considering the Sanstar Limited IPO should weigh the following factors:

  • Positive GMP: The strong grey market premium suggests good initial demand and potential listing gains.
  • Industry Position: Sanstar Limited is a pet foods ingredient provider, a niche but growing market.
  • Financials: Review the company’s financial health and growth prospects detailed in the IPO prospectus.
  • Market Conditions: Consider the broader market environment and sector performance.

Bottom Line:

Sanstar Limited’s IPO has started on a promising note, with a significant grey market premium and strong initial subscription. Potential investors should conduct thorough research and consider their investment goals before deciding to subscribe.

Q1 Results

Currency Market Update July 18, 2024

Disclaimer:

CurrencyVeda provides this news article for informational purposes only. We do not offer investment advice or recommendations. Before making any investment decisions, please conduct thorough research, consult with financial experts, and carefully consider your financial situation, risk tolerance, and investment goals. Investing in the stock market carries risks, and it’s essential to make informed choices based on your individual circumstances. CurrencyVeda is not liable for any actions taken based on the information provided in this article.

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