Sah Polymers IPO opens for subscription from December 30

26 Dec 2022 , 09:04 AM

The first week of New Year 2023 will be busy for investors as Sah Polymers’ initial public offer (IPO) is opening for subscription from December 30, 2022. The issue will conclude on January 04, 2023. The company has finalized the issue price band at Rs 61 to Rs 65 per share. Investors can apply in the IPO in a lot size of 230 shares and its multiples.

The issue only comprises fresh equity shares of worth Rs 66.30 crore. Out of 1.02 crore equity shares, 75% are reserved for qualified institutional buyers, 15% for non-institutional investors and remaining 10% is reserved for retail investors.

As per the RHP of the issue, the company will utilize net proceeds to set up an additional manufacturing facility for new variant of flexible intermediate bulk containers (FIBC) with capacity of 3,960 million tonnes per annum at Udaipur, Rajasthan. Remaining amount will be used to repay the borrowings and to fund working capital requirements.

Sah Polymers Limited was incorporated in the year 1992 and is primarily engaged in manufacturing and selling of Polypropylene (PP)/High-Density Polyethylene (HDPE) FIBC Bags, Woven Sacks, HDPE/PP woven fabrics and woven polymer. The company has its presence in 6 states and 1 UT. It also exports products to 14 countries such as Algeria, Togo, Ghana, Poland, Portugal, France, Italy, Dominican Republic, USA, Australia,UAE, Palestine, the UK and Ireland.

Pantomath Capital Advisors is working on the issue as merchant banker to the issue, while Link Intime India is the registrar.