Sanstar, specializing in plant-based products, approved for IPO to fund Dhule expansion and debt repayment. Third-largest Maize products manufacturer in India. Book Running Lead Manager: Pantomath Capital Advisors. Proposed listing on BSE and NSE.
Benchmark indices ended lower on Friday. Sensex fell 733 points to 73,878 and Nifty lost 172 points to 22,475. Here s a look at stocks likely to remain in action next week.
The Bengaluru-based company is rolling out a ₹1,842 crore initial public offering comprising a fresh issue of ₹760 crore and an offer of sale of ₹1,082 crore. The IPO represents 17% of the company s post-issue paid-up capital. Proceeds of the issue will be used to trim debt and for capex.
Chairman and CEO Manish Gupta of Indegene says that a portion of the IPO proceeds will be used to repay debt, which includes interest costs associated with a previous loan. This, according to him, will boost the company s profitability.