Sanstar IPO
Sanstar Limited (SANSTAR) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 26 July 2024.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +52.5% (likely range +48% to +68%), day's high +64.8%, chance of a gain 97%. Actual: +14.7% at the open, +35.6% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 1,07,40,000 | 1,56,45,82,800 | 146x | |
| NII (HNI) total | 80,55,000 | 1,09,94,80,050 | 136x | |
| Big NII (above ₹10 lakh) | 53,70,000 | 80,24,84,550 | 149x | |
| Small NII (₹2-10 lakh) | 26,85,000 | 29,69,95,500 | 111x | |
| Retail | 1,87,95,000 | 45,54,33,300 | 24.2x | |
| Total | 3,75,90,000 | 3,11,94,96,150 | 83.0x |
Bids on NSE and BSE together, as published by NSE, as of 23 Jul 2024, 07:00 PM. Shares offered exclude the anchor portion. 13% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Sanstar's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| DEE Development EngineersJun 2024 | 202x | 144x | 23.4x | 99.6x | ₹431 Cr | +67.0% | +80.2% |
| Vishnu Prakash R PungliaAug 2023 | 172x | 111x | 32.0x | 87.8x | ₹309 Cr | +66.7% | +66.7% |
| Aeroflex IndustriesAug 2023 | 195x | 126x | 34.4x | 97.1x | ₹352 Cr | +75.9% | +81.8% |
| Stanley LifestylesJun 2024 | 222x | 120x | 19.2x | 97.0x | ₹534 Cr | +34.1% | +38.0% |
| Azad EngineeringDec 2023 | 180x | 87.6x | 23.8x | 80.7x | ₹751 Cr | +37.4% | +38.7% |
| Laxmi Organic IndustriesMar 2021 | 175x | 218x | 20.1x | 107x | ₹605 Cr | +19.6% | +34.3% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Pantomath Capital Advisors | 19 | +20.0% | 79% |
Offer documents (NSE)
Frequently asked
What is the Sanstar IPO price band and lot size? ₹90.0–95.0 per share, with a lot of 150 shares, so the smallest retail bid is ₹14,250.
How many times has it been subscribed? 83.0x overall: QIB 146x, NII 136x, retail 24.2x.
How did it list? It opened at ₹109, +14.7% against the issue price of ₹95.0, and closed its first day +21.1%.
