Sanstar's Rs 510-cr IPO to open on July 19; sets price band at Rs 90-95 per share
The IPO is a combination of a fresh issue of 4.18 crore shares and an Offer For Sale (OFS) of 1.19 crore shares by selling shareholders.
At the upper end of the price band, the IPO size is pegged at Rs 510.15 crore.
Proceeds from the fresh issue to the tune of Rs 181.55 crore will be utilised to fund the capital expenditure requirement for the expansion of the company's Dhule facility, Rs 100 crore for debt payment and a portion will also be used for general corporate purposes.
Sanstar is one of the major manufacturers of plant-based speciality products and ingredient solutions in India. The company's speciality products and ingredients add taste, texture, nutrients and increased functionality to foods as ingredients, thickening agents, stabilisers, and sweeteners, among others.
It has an installed capacity of 1,100 tonnes per day through its two manufacturing facilities at Dhule in Maharashtra and Kutch in Gujarat.
The company exports its products to 49 countries across Asia, Africa, the Middle East, the Americas, Europe, and Oceania and has established its presence across India, distributing its products to 22 states.
Sanstar's revenue from operations has increased at a compound annual growth rate (CAGR) of 45.46 per cent to Rs 1,067.27 crore in fiscal 2024 from Rs 504.40 crore in fiscal 2022 and its profit after tax has surged multi-fold to Rs 66.77 crore in fiscal 2024 from Rs 15.92 crore in Fiscal 2022.
Investors can bid for a minimum of 150 equity shares and in multiples of 150 equity shares
