Sanstar

Sanstar is a major Indian manufacturer of plant-based specialty products and ingredient solutions. They process maize into various starch and animal nutrition products, supplying them to the food, pharmaceutical, FMCG, and other industries. Sanstar Limited was originally incorporated as `Continental Papers Limited', as a public limited company, pursuant to the certificate of incorporation dated February 26, 1982 issued by the Registrar of Companies, Delhi & Haryana. The Promoters acquired the entire shareholding, assets and liabilities of Continental Papers Limited of Continental Papers Limited pursuant to Agreement to sell and transfer dated February 22, 2012. Thereafter, the name of the Company was changed to `Sanstar Limited', dated April 2, 2012. Subsequently, pursuant to a Scheme of Amalgamation entered into between the Company and Sanstar Biopolymers Limited approved by the NCLT, Ahmedabad vide order dated November 23, 2023, Sanstar Biopolymer's Undertaking was merged into the Company as a going concern w.e.f. 1 April, 2022. The company is one of the major manufacturers of plant based speciality products and ingredient solutions in India for food, animal nutrition and other industrial applications. The products include liquid glucose, dried glucose solids, maltodextrin powder, dextrose monohydrate, native maize starches, modified maize starches and co-products like germs, gluten, fiber and enriched protein, amongst others. The speciality products and ingredients solutions add taste, texture, nutrients and increased functionality to (i) foods as ingredients, thickening agents, stabilizers, sweeteners, emulsifiers and additives (in bakery products, confectionery, pastas, soups, ketchups, sauces, creams, deserts, amongst others), (ii) animal nutrition products as nutritional ingredients, and (iii) other industrial products as disintegrants, excipients, supplements, coating agents, binders, smoothing & flattering agents, finishing agents, among others. The Company launched the initial public offer by raising Rs 510.15 Cr and issuing 53,700,000 equity shares of face value of Rs 2 each, comprising a fresh issue of 41,800,000 equity shares aggregating to Rs 397.1 Cr and offer for sale of 11,900,000 equity shares aggregating to Rs 113.05 Cr in July 2024.