Sah Polymers IPO subscribed 17.46 times on the last day of subscription

• Polymer manufacturer and packaging solutions provider Sah Polymers was subscribed 17.46 on the last day of the IPO subscription process.
• The Udaipur-based company plans to raise ₹66.3 crore through a fresh issue of 10.2 million shares, with no offer for sale (OFS) component.
• The price band of the IPO is set at ₹61-65 per share.
• Shares of the company are currently commanding a premium of ₹15 in the grey market.

The initial public offering of Sah Polymers, a polymer manufacturer and packaging solutions provider based in Udaipur, was subscribed by 17.46 times on the last day of the subscription process.

Sah Polymers IPO received huge demand from retail investors as this portion was subscribed by 39.78 times.

The company’s ₹66.3 crore IPO is a complete fresh issue of 10.2 million shares, with no offer for sale (OFS) component.

The shares of the company are currently commanding a grey market premium (GMP) of ₹15 per share. GMP is the premium at which IPO shares are traded in the unofficial market before they are listed on the stock exchanges.

Category of investors	Subscription status
Qualified institutional buyers	2.40 times
Non institutional investors	32.69 times
Retail	39.78 times
Overall	17.46 times

The company is primarily engaged in manufacturing and selling of polypropylene (PP) and high density polyethylene (HDPE) bulk bags (or FIBC bags), woven sacks, and HDPE/PP woven fabrics.

Sah Polymers offers customised bulk packaging solutions to business-to-business manufacturers catering to different industries such as agro pesticides, basic drugs, cement, chemicals, fertilisers, food products, textiles, ceramics and steel.

It exports products to 14 countries such as Algeria, Togo, Ghana, Poland, Portugal, France, Italy, Dominican Republic, USA, Australia, UAE, Palestine, the UK and Ireland.

Sah Polymers intends to use part of its net proceeds from the IPO to establish a new facility with an additional installed capacity of 3.96 billion tonnes per annum to manufacture different variants of FIBC products. Once set up, it will double the company’s total production capacity to 7.92 billion tonnes per annum.

It currently has one manufacturing facility located at Udaipur, Rajasthan, with an installed production capacity of 3.96 million tonnes per annum.

The company also intends to use a part of the proceeds to repay debt, fund working capital requirements and for other general corporate purposes.


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