Mumbai: Sanstar Limited, a leading manufacturer of plant-based specialty products, made a successful entry into the stock market today. The Sanstar company’s shares began trading on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) at 10:00 AM.
Anticipation for the Sanstar IPO had been high, with shares commanding a premium of ₹35 in the grey market, indicating a potential listing price of around ₹130. While valuations were considered slightly elevated, the IPO garnered a robust response from investors due to the company’s strong growth prospects in the plant-based products market.
Market experts predict a promising start for Sanstar, with the listing price expected to range between ₹125 to ₹130 per share. This would translate to a listing gain of approximately 33%, according to Amit Goel, Co-Founder and Chief Global Strategist at Pace 360. He attributed the optimistic outlook to the company’s rising product demand and expansion plans.
Sanstar IPO Makes a Strong Debut
Prashanth Tapse, Senior Vice President of Research at Mehta Equities, shared similar sentiments. Despite the higher valuations, Sanstar’s IPO received a healthy subscription across investor categories. Tapse highlighted the company’s strong market position, high entry barriers in the industry, and loyal customer base as key factors contributing to the positive investor sentiment. He anticipates a listing gain of 22% to 25%.
As Sanstar embarks on its public journey, the market is watching closely to see how the stock performs in the coming days.
Sanstar IPO is generating significant buzz in the grey market, with shares currently trading at a premium of ₹35. This indicates strong investor interest and expectations of a robust listing. Based on the grey market premium, the anticipated listing price for Sanstar shares is around ₹130, marking a potential 35% jump from the issue price.
Sanstar IPO Makes Solid Debut
Sanstar Limited made a strong entry into the stock market on July 26, with its shares listing at ₹109, marking a 14.7% premium over the issue price of ₹95. The company raised a total of ₹510.15 crore through the IPO, comprising a fresh issue of ₹397.10 crore and an offer for sale of ₹113.05 crore.
The IPO, which was open for subscription from July 19 to 23, was oversubscribed by a significant margin. Allotment of shares was finalized on July 24.
Sanstar Limited made a strong debut on the stock market today. The shares of the plant-based products manufacturer opened at ₹109 on the National Stock Exchange (NSE), a premium of 14.74% over its issue price of ₹95. On the Bombay Stock Exchange (BSE), the stock began trading at ₹106.40, representing a 12% premium.
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