The Initial public offer (IPO) of Sah Polymers opened for subscription from December 30 to January 4 is subscribed 4.34 times on day 3 of the offer by 4:15 PM. The company is raising Rs 66.3 crore from the offer by issuing fresh equity shares at the price band of Rs 61-65 per share. Click here to apply in the IPO.
According to the data from BSE, investors made bids for 2,43,61,830 equity shares or 3.35 times as against 56,10,000 equity shares offered for subscription by 4.15 PM on Tuesday, January 3.
The portion reserved for retailers was subscribed 14.87 times, whereas the portion for non-institutional investors fetched 4.96 times bids, and the qualified institutional bidders booked 0.53 times of the allocated quota.
Sah Polymers has its presence in 5 states and 1 union territory for their domestic market, based on sales made in 1QFY23 and FY22. The company export their products to 14 countries including the US, Algeria, Ghana, UK and Australia.
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