Sah Polymers Limited IPO to Open on Dec 30 | Espresso

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Sah Polymers Ltd to Open on Dec 30. Check IPO Details, Issue Date, Price

December 28, 2022
Sah Polymers Ltd to Open on Dec 30. Check IPO Details, Issue Date, Price

Sah Polymers Ltd is coming out with a fresh public issue to raise Rs. 66 crores from the market.

Below are the details of the Sah Polymers Ltd IPO:

  • Issue opens – Dec 30 (Friday)
  • Issue closes – Jan 04 (Wednesday)
  • Issue size – Rs. 66 crores
  • Price band – Rs. 61 to 65 per equity share
  • Bid lot – 230 shares and in multiples thereof

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And here are some details of the company and further details on the Sah Polymers Ltd.

Company details:

·       Sah Polymers Ltd (“Sah Polymers”) was incorporated on April 20, 1992. Promoted by Sat Industries, Sah Polymers is an ISO 9001:2015 certified company, primarily engaged in manufacturing and selling of Polypropylene (PP)/ High Density Polyethylene (HDPE) FIBC Bags, Woven Sacks, HDPE/PP woven fabrics, based products of different weight, sizes and colours as per customers specifications.

·       They offer customised bulk packaging solutions to business-to-business (“B2B”) manufacturers catering to different industries such as Agro-Pesticides Industry, Basic Drug Industry, Cement Industry, Chemical Industry, Fertilizer Industry, Food Products Industry, Textile Industry Ceramic Industry and Steel Industry.

·       The company is a Del Credere Associate cum Consignment Stockist (DCA/ CS) of Indian Oil Corporation Ltd and also operates as Dealer Operated Polymer Warehouse (DOPW) of Indian Oil Corporation Limited for their polymer division.

·       Sah Polymers enters into arrangements as third-party manufacturers to manufacture their tape and fabric based on customers’ requirements.

·       They have 2 business divisions (i) domestic sales; and (ii) exports. The company has presence in 5 states and 1 union territory for their domestic market based on sales made for the 3 months ended June 30, 2022 and FY 2022, respectively.

·       Internationally, they export their products to 14 countries such as Algeria, Togo, Ghana, Poland, Portugal, France, Italy, Dominican Republic, USA, Australia, UAE, Palestine, UK and Ireland.

Issue Size: 66 crores

Issue break-up:

  • QIB – 75% of the offer – Rs. 49.73 crores
  • NIB – 15% of the offer – Rs. 9.95 crores
  • RET – 10% of the offer – Rs. 6.63 crores

Listing: BSE and NSE

Registrar: Link Intime India Private Limited

UPI: All Retail & NII bidders' (bids up to Rs 5,00,000) applications through brokers are compulsorily in UPI Mode.

Note

· Application made using third party UPI or ASBA Bank A/c are liable to be rejected.      

· The UPI Mandate acceptance time for Retail and NII Bidders (bids up to ? 5,00,000) shall expire at 5:00 PM on the closing day of  the IPO i.e. Jan 04, 2023. 

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