Investor subscribe Sanstar IPO 13.47 times offer size on day 2 of offer

The initial public offer of plant-based speciality products company Sanstar Ltd received 13.47 times subscription on the second day of share sale on Monday.

The Rs 510-crore initial share sale got bids for 50,64,45,900 shares against 3,75,90,000 shares on offer, according to NSE data.

The category for non-institutional investors received 32.84 times subscription while the quota for Retail Individual Investors (RIIs) got subscribed 12.14 times. The portion meant for Qualified Institutional Buyers (QIBs) fetched 1.29 times subscription.

The IPO has a fresh issue of up to 4.18 crore equity shares and an offer for sale of up to 1.19 crore equity shares.

The IPO has a price range of Rs 90-95 per share.

On Thursday, Sanstar Ltd said it has collected Rs 153 crore from anchor investors.

Proceeds from the fresh issue to the tune of Rs 181.55 crore will be utilised to fund the capital expenditure requirement for the expansion of the company's Dhule facility, Rs 100 crore for debt payment a