Mumbai32 minutes ago
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Sunstar Limited’s Initial Public Offer i.e. IPO will open on July 19. Investors will be able to bid for this issue till July 23. The company’s shares will be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on July 26.
Through this issue, the company wants to raise Rs 510.15 crore. For this, the company is issuing 41,800,000 fresh shares worth Rs 397.10 crore. Whereas, the existing investors of the company are selling 11,900,000 shares worth Rs 113.05 crore through Offer for Sale i.e. OFS.
If you are also planning to invest money in this, then we are telling you how much you can invest in this.
What is the minimum and maximum amount that can be invested?
Sunstar Limited has fixed the price band of this issue at ₹ 90-₹ 95. Retail investors can bid for a minimum of one lot i.e. 150 shares. If you apply for 1 lot as per the upper price band of the IPO of ₹ 95, then you will have to invest ₹ 14,250 for it.
At the same time, retail investors can apply for a maximum of 14 lots i.e. 2100 shares. For this, investors will have to invest ₹ 199,500 according to the upper price band.
35% of the issue is 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).
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.
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