Home / Markets / Ipo /  Sah Polymers IPO: Latest GMP as all eyes on shares listing after allotment
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The finalisation of the basis of share allotment of Sah Polymers IPO is done and if allotted, the shares will get credited to the demat accounts on Wednesday, January 11, 2023. Now, all eyes are on the listing of the company's shares that is likely to debut this week.

The company's shares are expected to list on the leading stock exchanges BSE and NSE this week on Thursday, January 12, 2023. According to market observers, Sah Polymers shares are commanding a premium of 7 in the grey market today. 

The initial public offer (IPO) of polymer manufacturer Sah Polymers was subscribed over 17 times on the last day of subscription. The initial share-sale received bids for 9,79,44,810 shares against 56,10,000 shares on offer. The offer had opened for public subscription on Friday, December 30, 2022 and will conclude on Wednesday, January 4, 2023. 

The Retail Individual Investors (RIIs) part was subscribed 39.78 times, the category for non-institutional investors received 32.69 times subscription and Qualified Institutional Buyers (QIBs) 2.40 times.

Sah Polymers IPO consisted of a fresh issue of 1,02,00,000 equity shares, with no offer for sale (OFS) component. Sat Industries, which is the promoter, holds 91.79% stake in the company. The price range for the initial share sale was at 61-65 a share.

Sah Polymers is Udaipur-based company which is primarily engaged in manufacturing and selling of polypropylene (PP)/ high density polyethylene (HDPE) FIBC bags, woven sacks, HDPE/PP woven fabrics and woven polymer based products.

The company proposes to utilize the net proceeds towards setting up of a new manufacturing facility to manufacture new variant of Flexible Intermediate Bulk Containers (FIBC), repayment/ Prepayment of certain secured and unsecured borrowings in full or part, funding the working capital requirements, and general corporate purposes.

Pantomath Capital Advisors was the merchant banker to the initial share sale whereas Link Intime India Private Ltd was the registrar for the public offer.

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