Sanstar Limited’s IPO Opens: Investors Can Bid Until July 23, Minimum Investment ₹14,250
The Initial Public Offering (IPO) of Sanstar Limited has opened today. Investors can bid for this issue until July 23. The company’s shares will be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on July 26.
Through this issue, the company aims to raise ₹510.15 crores. To achieve this, the company is issuing 41,800,000 new shares worth ₹397.10 crores. Additionally, existing investors are selling 11,900,000 shares worth ₹113.05 crores through an Offer for Sale (OFS).
Minimum and Maximum Investment Amounts
Sanstar Limited has set the price band for this issue at ₹90-95. Retail investors can bid for a minimum of one lot, which is 150 shares. If you apply for one lot at the upper price band of ₹95, you will need to invest ₹14,250.
At the same time, retail investors can apply for a maximum of 14 lots, which is 2,100 shares. For this, investors will need to invest ₹1,99,500 at the upper price band.
Sanstar Limited’s Premium in Grey Market at 38.95%
Before the listing, Sanstar Limited’s shares have reached a premium of 38.95% in the grey market, equivalent to ₹37 per share. Based on the upper price band of ₹95, the listing could potentially occur at ₹132.
However, this is only an estimate, and the actual listing price may differ from the grey market price.
35% of Issue Reserved for Retail Investors
The company has reserved 50% of the issue for Qualified Institutional Buyers (QIB). Additionally, approximately 35% of the shares are reserved for retail investors, and the remaining 15% of the shares are reserved for Non-Institutional Investors (NII).
