Business News/ Markets / Upcoming IPO: Sah Polymers to launch issue this week. Check date, price band, key details

The initial public offering (IPO) of polymer manufacturer Sah Polymers will open for subscription this week on Friday, December 30, 2022 and conclude on January 4, 2023. As per reports, the company has fixed a price band of 61 to 65 per share for its issue. The bid for anchor investors will open on Thursday, December 29, 2022.

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.

The Udaipur-based company 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 has a presence in 6 states and 1 union territory for the domestic market and 6 regions internationally in 6 regions such as Africa, the Middle East, Europe, the USA, Australia and the Caribbean.

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. 

Link Intime India Private Ltd is the registrar for the IPO. The equity shares of the company are proposed to be listed on leading stock exchanges BSE, NSE and expected to debut on January 12, 2023.

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Updated: 26 Dec 2022, 11:55 AM IST
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