Sah Polymers outperforms on the market debut; closes at 37% premium

12 Jan 2023 , 03:47 PM

After an outstanding debut on the bourses at 30.7% premium over issue price, the shares of Sah Polymers closed at 37.31% premium at Rs 89.25 apiece on NSE and BSE. Healthy subscription numbers and good financial track record are some of reasons for the premium listing. 

The initial public offer (IPO) of polymer manufacturer Sah Polymers was subscribed over 17 times on the last day of subscription. The IPO received bids for 9,79,44,810 shares against 56,10,000 shares on offer. The offer was opened for subscription from December 30 to January 04.

The offer comprised only a fresh issue of 1.02 crore shares. The issue fetched the company Rs 66.30 crore at the higher end of the price band of Rs 61-65 per share.