Sah Polymers Limited is one of the pioneers in the manufacturing and exporting of Polypropylene (PP)/ High Density Polyethylene (HDPE) Woven Bags, BOPP Laminated Bags and Flexible Intermediate Bulk Containers (FIBCs) in India
MUMBAI, Jan 12 (The CONNECT) – Polypropylene woven bags major Sah Polymers Limited today made a strong debut on the exchanges to close 37.31% premium to its IPO issue price.
The scrip listed Rs 85 per share on both BSE and NSE, a premium of 30.77% and closed at Rs 89.25 per share on the bourses
As per NSE, the total quantity traded stood at 41.80 lakh shares, on BSE the total Quantity stood at 4.16 lakh shares. Total Turnover (BSE+NSE) on Day 1 stood at Rs 40.11 crore.
Asad Daud, Managing Director – Sah Polymers, said “We are overwhelmed by the faith shown by the investors in our company. We realise that we are now custodians of the trust and capital of tens of thousands of shareholders and we will always endeavour to maintain that faith shown to us and put in our best efforts to achieve our future goals and objectives so as to enhance shareholder value in the long term. Sah Polymers’ financial performance has been robust and we are very confident about the future outlook of the company."
The Market Capitalization of the Company at today’s closing price stood at Rs. 230.23 Crore as per BSE and NSE.
The issue with a face value of ₹10 per Equity Share consisted of a fresh issue of 102,00,000 shares, at a price band of ₹61-65, with no offer for sale component.
Sah Polymers is led by Asad Daud, and Hakim Sadiq Ali Tidiwala, with a combined expertise of approximately 20 years in the FIBC packaging sector. The Company provides tailored bulk packaging solutions to business-to-business producers in a variety of industries, including agro pesticides, basic drugs, cement, chemicals, fertilisers, food products, textiles, ceramics, and steel. It is also a Del Credere Associate cum Consignment Stockist of Indian Oil Corporation Limited, as well as a Dealer Operated Polymer Warehouse (DOPW) of Indian Oil Corporation’s polymer division.
Sah Polymers has presence in six states and one union territory. Internationally, it supplies its products in six regions: Africa, the Middle East, Europe, The United States, Australia, and Caribbean.
Pantomath Capital Advisors Private Limited was the sole book running lead manager to the issue and Link Intime India Private Limited the registrar.