Sanstar Ltd's Rs 510 crore initial public offering (IPO) was oversubscribed within two hours on the first day of bidding, driven by strong demand from retail and NII category investors. By 12:12 p.m., the IPO was subscribed 1.55 times overall, with the retail category at 1.94 times and the NII portion at 2.7 times. There were no bids from qualified institutional buyers at that point.
