
Sah Polymers' shares made a strong debut at the bourses on Monday as the scrip got listed at a stellar premium of 31 per cent at Rs 85 on both BSE and National Stock Exchange, over its issue price of Rs 65 apiece.
Sah Polymers debut delivered a better-than-expected listing pop to the investors as the company as was commanding a grey market premium of Rs 10 per share a day ahead of its listing.
Sah Polymers raised Rs 66.30 crore via its initial public offering (IPO), which ran from December 30, 2022, to January 4, 2023. The company sold its shares in the range of Rs 61-65 apiece and was subscribed a solid 17.46 times.
The quota reserved for retail bidders was booked 39.78 times in the four-day bidding process. The quota reserved for non-institutional buyers was subscribed 32.69 times. The quota reserved for institutional bidders saw 2.4 times bidding.
The market for polymers is anticipated to reach $790 billion by 2027, expanding at a CAGR of 5.5 per cent from 2022 to 2027. Sah Polymers is a manufacturer and seller of Polypropylene/High-Density Polyethylene FIBC Bags, Woven Sacks, HDPE/PP Woven Fabrics, and Woven polymers.
Sah Polymers offer customised bulk packaging solutions to business-to-business (B2B) manufacturers catering to different industries such as agro pesticides, basic drug, cement, chemicals, fertilizers, food processing, textiles among others. The market for polymers is anticipated to reach $790 billion by 2027, expanding at a CAGR of 5.5 per cent.
The company has a presence in six states and one union territory for the domestic market and six regions internationally including Africa, the Middle East, Europe, the USA, Australia and the Caribbean.
Sah Polymers has one manufacturing facility with an installed production capacity of 3,960 metric tonnes per annum (mpta) located at Udaipur, Rajasthan.
Also Read: Route Mobile shares rally 5% on bagging contract from Sri Lanka-based MNO. Full details