Sanstar shares jump 21% in debut trade
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New Delhi: Shares of plant-based speciality products company Sanstar Ltd on Friday ended with a premium of over 21 per cent against the issue price of Rs 95. The stock started the trade at Rs 106.40, up 12 per cent from the issue price on the BSE. During the day, it jumped 34.4 per cent to Rs 127.68. Shares of the firm ended at Rs115.09, reflecting a surge of 21.14 per cent. On the NSE, it opened the trade at Rs109, a jump of 14.73 per cent.
The stock ended at Rs115.19 apiece, up 21.25 per cent. The company’s market valuation stood at Rs2,097.45 crore. The initial public offer of Sanstar Ltd received 82.99 times subscription on the closing day of the share sale on Tuesday amid massive participation from institutional buyers. The Rs 510-crore initial share sale had 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 had a price range of Rs90-95 per share.
