Mumbai1 hour ago
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The initial public offer i.e. IPO of Sunstar Limited will open on July 19. Investors will be able to bid for this issue till July 23. The company’s shares will be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on July 26.
The company wants to raise ₹510.15 crore through this issue. For this, the company is issuing 41,800,000 fresh shares worth ₹397.10 crore. Whereas, the existing investors of the company are selling 11,900,000 shares worth ₹ 113.05 crore through Offer for Sale i.e. OFS.
If you are also planning to invest money in it, then we are telling you how much you can invest in it.
What is the minimum and maximum amount that can be invested?
Sunstar Limited has fixed the price band of this issue at ₹90-₹95. Retail investors can bid for a minimum of one lot i.e. 150 shares. If you apply for 1 lot at the upper price band of IPO at ₹95, then you will have to invest ₹14,250.
Whereas, retail investors can apply for maximum 14 lots i.e. 2100 shares. For this, investors will have to invest ₹ 199,500 as per the upper price band.
35% of the issue reserved for retail investors
The company has reserved 50% of the issue for Qualified Institutional Buyers (QIB). Apart from this, about 35% share is reserved for retail investors and the remaining 15% share is reserved for non-institutional investors (NII).
What is IPO?
When a company issues its shares to the general public for the first time, it is called Initial Public Offering i.e. IPO. The company needs money to expand its business. In such a situation, instead of taking loan from the market, the company raises money by selling some shares to the public or issuing new shares. For this the company brings IPO.
