Check Sanstar's IPO Allotment Status Here

24 Jul 2024 , 10:41 AM

The initial public offer (IPO) of Sanstar Limited was closed on July 23 and the issue was subscribed 82.99 times on the last bidding day. The company will finalise the allotment of the shares on July 24. So the investors who have applied for the IPO can check the allotment status on the BSE website or the website of the IPO registrar, Link Intime India.

The refund process for the Sanstar IPO will begin on Thursday, July 25, for applicants who did not receive shares. Those allotted shares will be credited to their demat accounts on the same day.

Sanstar’s IPO has garnered significant interest, with the listing date set for Friday, July 26. According to BSE data, the IPO was subscribed 82.99 times overall. Qualified Institutional Buyers (QIBs) showed strong demand, subscribing 145.68 times, while Non-Institutional Investors (NIIs) subscribed 136.50 times. The retail investor segment was also highly active, with a subscription rate of 24.23 times.

Sanstar Ltd specializes in manufacturing plant-based speciality products and ingredient solutions for the food and animal nutrition industries. Their product range includes liquid glucose, dried glucose solids, maltodextrin powder, dextrose monohydrate, native and modified maize starches, as well as co-products like germs, gluten, fiber, and enriched protein. These products are integral in enhancing the taste, texture, and nutritional value of food and animal nutrition products.

The proceeds from the fresh issue will primarily be used to expand Sanstar’s facility in Dhule and to repay existing debts. The company currently operates two manufacturing facilities located in Dhule, Maharashtra, and Kutch, Gujarat.