Sunstar, a specialty product and ingredient solutions maker, is set to launch its first public issue on July 19.
Issue Details and Financial Goals
The IPO will offer 5.37 crore equity shares at a price band of Rs 90-95 per share. Sunstar aims to raise Rs 510.15 crore through this offering.
The IPO comprises a fresh issue of 4.18 crore shares, generating Rs 397.1 crore for the company,
and an offer for sale (OFS) of 1.19 crore shares worth Rs 113.05 crore by the promoters.
Issue Overview
Sunstar, a specialty product and ingredient solutions maker, will debut in the market with its first public issue on July 19.
The IPO will offer shares priced between Rs 90 and Rs 95 per share, aiming to raise Rs 510.15 crore.
Promoters’ Offer for Sale (OFS)
Promoters Rani Gautamchand Chaudhary, Richa Sambhav Chaudhary, and Samiksha Shreyans Chaudhary will collectively sell 104 lakh equity shares through the OFS.
Additionally, other promoters Gautamchand Sohanlal Chaudhary, Sambhav Gautam Chaudhary, and Shreyans Gautam Chaudhary will each sell 5 lakh shares.
Allocation Breakdown
Sunstar has allocated 50% of the issue size to qualified institutional buyers (QIBs), 35% to retail investors, and the remaining 15% to non-institutional investors, including high net-worth individuals.
Anchor Book and Timeline
Ahead of the IPO, shares worth up to Rs 153 crore from the QIB book have been reserved for the anchor book, scheduled to open on July 18.
The public issue will conclude on July 23, offering investors an opportunity to participate in Sunstar’s debut on the market.
