सनस्टार लिमिटेड का शेयर 14.73% ऊपर ₹109 पर लिस्ट: इश्यू प्राइस ₹95 था; प्लांट बेस्ट स्पेशिएलिटी प्रोडक्ट बनाती है कंपनी

Sunstar Limited’s share was listed on the National Stock Exchange (NSE) at Rs 109, up 14.73% from the issue price. At the same time, the share was listed on the Bombay Stock Exchange (BSE) at Rs 106.40, up 12%. The issue price of this IPO was Rs 95. This IPO was open for investors from July 19 to July 23.

The issue was subscribed a total of 82.99 times in three days. The IPO was subscribed 24.23 times in the retail category, 145.68 times in the qualified institutional buyers (QIB) and 136.49 times in the non-institutional investors (NII) category.

This issue is worth ₹510.15 crore
This issue of Sunstar Limited was of total ₹510.15 crores. For this, Sunstar Limited is issuing 41,800,000 fresh shares worth ₹397.10 crores. Whereas, the existing investors of the company are selling 11,900,000 shares worth ₹113.05 crores through Offer for Sale i.e. OFS.

Retail investors could invest a maximum of ₹199,500
Sunstar Limited had fixed the price band of this issue at ₹ 90-₹ 95. Retail investors could bid for a minimum of one lot i.e. 150 shares. If you had applied for 1 lot as per the upper price band of the IPO of ₹ 95, you would have had to invest ₹ 14,250 for it.

At the same time, retail investors could apply for a maximum of 14 lots i.e. 2100 shares. For this, investors had to invest ₹ 199,500 according to the upper price band.

35% of the issue was reserved for retail investors
The company has reserved 50% of the issue for qualified institutional buyers (QIB). Apart from this, about 35% is reserved for retail investors and the remaining 15% is reserved for non-institutional investors (NII).

The company manufactures plant-based specialty products
Sunstar Limited Plant in Ahmedabad manufactures best specialty products. This includes liquid glucose, dried glucose solids, maltodextrin powder, dextrose monohydrate, native maize starch, refined maize starch, gluten, fiber and protein among other products. The company has two production units at Kutch in Gujarat and Dhule in Maharashtra. As of May 18, 2024, the company’s total production capacity was 3,63,000 tonnes per annum (1,100 tonnes per day).

What is IPO?
When a company issues its shares to the general public for the first time, it is called Initial Public Offering or IPO. The company needs money to expand its business. In such a situation, instead of taking a loan from the market, the company raises money by selling some shares to the public or by issuing new shares. For this, the company brings IPO.