Sanstar Limted’s Rs 510 crore was fully subscribed in the first hour of the first day of bidding on Friday, July 19. The Non-institutional investor portion was subscribed 1.57 times and the retail investor portion was subscribed 1.33 times as of 11:15 AM on day 1 of bidding.
Sanstar had raised Rs 153 crores from anchor investors ahead of its initial public offering that opens for public subscription on Friday, July 19, 2024. The Company informed the bourses that it allocated 1,61,10,000 equityshares at Rs. 95 per share on Thursday, July 18, 2024, to anchor investors
The IPO consists of Fresh Issue of up to 41.80 million Equity Shares and an Offer for Sale (“OFS”) of up to 11.90 million Equity Shares by the Promoter Selling Shareholders and Promoter Group Selling Shareholders.
The proceeds from the fresh issue to the extent of Rs 181.55 crore will be utilized for funding the capital expenditure requirement for expansion of its Dhule Facility, Rs 100 crore for repayment and/or pre-payment, in part or full, of certain borrowings availed by the Company and general corporate purposes.
