Home / Markets / Ipo /  Sah Polymers IPO: What GMP signals as issue opens for subscription tomorrow

The initial public offering (IPO) of polymer manufacturer Sah Polymers will open for subscription tomorrow i.e., on Friday, December 30, 2022 and will conclude on January 4, 2023. The issue has a price band of 61 to 65 per share. The bid for anchor investors will open on Thursday, December 29, 2022.

As per market observers, Sah Polymers shares are commanding a premium of 6 in the grey market today. The company's shares are expected to list on leading stock exchanges BSE and NSE on January 12, 2023.

Sah Polymers' IPO will be 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. 

Sah Polymers is a Udaipur-based company and 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 funding of the following objects 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 availed by the company and the subsidiary company, funding the working capital requirements of the company, and general corporate purposes.

75% of the issue is reserved for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs) and the remaining 10% for the retail individual investors (RIIs). Pantomath Capital Advisors is the merchant banker to the initial share sale whereas Link Intime India Private Ltd is the registrar for the public offer.

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