Sunstar Overseas gets SEBI approval for IPO

New Delhi, May 18 (UNI) Sunstar Overseas Ltd, one of the leading exporters of conventional and organic Basmati rice, has received the SEBI approval for its IPO.

The company will enter the capital market with an initial public offering through a 100 per cent book built issue. ''The objective of the Issue is to expand and upgrade existing facilities,'' a company release said today.

The public offer consists of 56,00,000 equity shares of Rs 10 each. The issue would constitute 34.96 per cent of the fully diluted post issue paid-up capital of the company.

UTI Securities is the book running lead manager to the Issue and Intime Spectrum Registry Limited is the Registrar to the Issue.

UNI PC PV KN1943