Sah Polymers IPO subscribed 17.46 instances on the final day of subscription

• Polymer producer and packaging options supplier Sah Polymers was subscribed 17.46 on the final day of the IPO subscription course of.
• The Udaipur-based firm plans to boost ₹66.3 crore by a recent problem of 10.2 million shares, with no provide on the market (OFS) part.
• The worth band of the IPO is about at ₹61-65 per share.
• Shares of the corporate are at the moment commanding a premium of ₹15 within the gray market.

The preliminary public providing of Sah Polymers, a polymer producer and packaging options supplier based mostly in Udaipur, was subscribed by 17.46 instances on the final day of the subscription course of.

Sah Polymers IPO obtained large demand from retail buyers as this portion was subscribed by 39.78 instances.

The corporate’s ₹66.3 crore IPO is a whole recent problem of 10.2 million shares, with no provide on the market (OFS) part.

The shares of the corporate are at the moment commanding a gray market premium (GMP) of ₹15 per share. GMP is the premium at which IPO shares are traded within the unofficial market earlier than they’re listed on the inventory exchanges.

The corporate is primarily engaged in manufacturing and promoting of polypropylene (PP) and excessive density polyethylene (HDPE) bulk baggage (or FIBC baggage), woven sacks, and HDPE/PP woven materials.Sah Polymers provides customised bulk packaging options to business-to-business producers catering to completely different industries equivalent to agro pesticides, primary medicine, cement, chemical compounds, fertilisers, meals merchandise, textiles, ceramics and metal.

It exports merchandise to 14 international locations equivalent to Algeria, Togo, Ghana, Poland, Portugal, France, Italy, Dominican Republic, USA, Australia, UAE, Palestine, the UK and Eire.

Sah Polymers intends to make use of a part of its web proceeds from the IPO to determine a brand new facility with an extra put in capability of three.96 billion tonnes each year to fabricate completely different variants of FIBC merchandise. As soon as arrange, it can double the corporate’s complete manufacturing capability to 7.92 billion tonnes each year.

It at the moment has one manufacturing facility situated at Udaipur, Rajasthan, with an put in manufacturing capability of three.96 million tonnes each year.

The corporate additionally intends to make use of part of the proceeds to repay debt, fund working capital necessities and for different basic company functions.

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