The initial public offer (IPO) of Sah Polymers Limited received a huge response and subscribed 86 per cent on the day first of subscription on 30 December. Sah Polymers IPO is preparing to raise ₹66.30 Cr funds through its Fresh Issue and Offer For Sale.
Sah Polymers reserved shares in this IPO, 75% for qualified institutional buyers (QIB) and 15% for non-institutional investors (NII), and 10% for the retail category have been reserved.
Sah Polymers IPO Subscription Status
The company received bids for 48,04,470 shares against 56,10,000 shares on offer, according to data from the BSE.
For the retail investor’s category, the company received bids for 21,11,170 shares against 10,20,000 that’s was 2.07 times and for non-institutional investors, the company received bids for 15,24,210 shares of the 15,30,000 that’s was almost fully subscribed but the qualified institutional buyers (QIB) category didn’t receive much interest. Only 38% subscribed on the QIB category. The company received bids for 11,69,090 of the 30,60,000 shares on offer for this segment.
Sah Polymers Limited is 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 weights, sizes, and colors as per customers’ specifications.
Sah Polymers Limited offers customized bulk packaging solutions to business-to-business (“B2B”) manufacturers such as Textile Industries, Agro Pesticides Industries, Basic Drug Industries, Cattle Feed Industries, Cement Industries, Chemical Industries, Food Products Industries, Metal Industries, Mineral Industries, Paper Mill Industries, Textile Industries, Tyre Industries, Fertilizer Industries, Salt Industries & Many More