At the higher end of the price band i.e. Rs 61-65 per share; Sah Polymers’ customized bulk packaging solutions provider; aims to mobilize at least Rs. 66.3 crore. The public offering only includes fresh issues unlike other IPOs from last month that had only offer for sale(OFS). The proceeds of the IPO will be utilized for setting up a new manufacturing facility to make a new variant of flexible intermediate bulk containers (FIBC), repaying debts, and working capital requirements, besides general corporate purposes.
Sah Polymers’ public offering is still getting a good public response even on the 3rd day of bidding which is January 3rd. The Public offering has so far attracted bids of 1.76 crore equity shares as against an IPO size of 56.1 lakh shares; subscribing it 3.14x as per the data. The retail investors made bids 10.63x against that of the share being offered to their quota while High net worth individuals made 3.64x bids against that of the allotted quotas respectively.
Meanwhile qualified institutional buyer’s quota has been subscribed just 39% so far. At the higher end of the price band i.e. Rs 61-65 per share; Sah Polymers’ customized bulk packaging solutions provider; aims to mobilize at least Rs. 66.3 crore. The public offering only includes fresh issues unlike other IPOs from last month that had only offer for sale(OFS). The proceeds of the IPO will be utilized for setting up a new manufacturing facility to make a new variant of flexible intermediate bulk containers (FIBC), repaying debts, and working capital requirements, besides general corporate purposes.
According to the DHRP filed with the SEBI, “ Sah Polymers manufactures polypropylene (PP)/high-density polyethylene (HDPE) FIBC bags, as well as woven sacks, HDPE/PP woven fabrics, and woven polymer. It supplies to several industries including agro pesticides, basic drugs, cement, chemical, fertilizer, food products, textile, ceramic and steel.”
