Sanstar Limited IPO: Share Allotment Finalised, GMP Flies High, Listing Tomorrow; Check Status

The Sanstar IPO has been a topic of interest among investors, marking yet another significant public issue. The allotment process for the Sanstar IPO, which began on Wednesday, July 24, has been finalized. This article delves into the details of the IPO, the allotment process, and the response it received from various investor segments.

The Sanstar IPO opened for subscription on Friday, July 19, and closed on Tuesday, July 23. This IPO attracted significant attention, evidenced by the subscription status on the last bidding day, which stood at an impressive 82.99 times. Such a high subscription rate indicates a robust demand for Sanstar shares among investors, highlighting the company's strong market position and potential for future growth.

The response from different categories of investors was noteworthy:

Qualified Institutional Buyers (QIBs): The QIBs showed a resounding response to the IPO. On the last day of bidding, QIBs booked 145.68 times their allotted shares.
Non-Institutional Investors (NIIs): The NIIs also displayed significant enthusiasm, subscribing to the IPO 136.50 times.
Retail Investors: Retail investors subscribed 24.23 times to the IPO.

Checking Allotment Status

Investors who applied for the Sanstar IPO can now check their allotment status through the IPO registrar, Link Intime India Private Ltd. Here's a step-by-step guide on how to check the allotment status on different platforms:

On Link Intime India Private Ltd. Website

Visit the Registrar Website: Go to Link Intime India Private Ltd.
Select IPO: Choose the Initial Public Offering (IPO) from the menu; the name will appear once the allocation is completed.
Enter Details: Click on the PAN, demat account, or application number to discover the current status.
Application Type: Select between ASBA and non-ASBA.
Submit Information: Enter the details and complete the captcha.
Check Status: Click submit to view your allotment status.

On BSE Website

Visit BSE Allotment Page: Go to BSE India IPO Allotment.
Select Issue Type: Choose 'Equity' under 'Issue Type'.
Select IPO: Pick the IPO from the drop-down menu under 'Issue Name'.
Enter Details: Provide your PAN or application number.
Verify and Submit: Confirm your identity by clicking 'I am not a Robot' and then submit.

On NSE Website

Visit NSE Allotment Page: Go to NSE IPO Allotment.
Register: If not already registered, sign up using your PAN.
Login: Enter your username, password, and captcha code.
Check Status: View your IPO allotment status on the new page.

Refund and Allotment Process

For investors who were not allotted shares, the refund process will commence today, Thursday, July 25. The funds will be credited back to their respective bank accounts. For those who were allotted shares, the shares will be transferred to their demat accounts today. The Sanstar IPO listing date has been fixed for Friday, July 26, and all eyes will be on how the shares perform on the listing day.

Grey Market Premium (GMP) Analysis

The Sanstar IPO has also seen active trading in the grey market. As of today, the grey market premium (GMP) for Sanstar shares stands at +34. This indicates that the shares were trading at a premium of Rs 34 over the IPO price in the grey market, suggesting a strong anticipated listing price.

Based on the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Sanstar shares is around Rs 129 per share, which is approximately 35.79% higher than the IPO price of Rs 95. This positive premium reflects high investor confidence and expectation of a solid performance post-listing.

Over the past 13 sessions, the GMP has shown an upward trend, reaching a maximum of Rs 44 and a minimum of Rs 0. This fluctuation indicates varying investor sentiment and market dynamics. However, the current premium points towards a favourable listing outcome.

The Sanstar IPO has garnered attention and participation from various investor segments, showcasing strong market confidence. With the allotment process complete and the shares set to be listed soon, investors are awaiting the performance of Sanstar on the stock exchange. The high subscription rates and positive grey market premium suggest a promising start for Sanstar in the public market.