Mr. Murtaza Ali Moti, Chief Exectuive Officer, Sah Polymers Limited and their plants & products
· Price Band of ₹ 61 – ₹ 65 per equity share bearing face value of ₹ 10 each (“Equity Shares”)
· Anchor Investor BIDDING DATE- Thursday 29 ,December 2022*
· Bid/Offer Opening Date – Friday, 30th December, 2022 and Bid/Offer Closing Date – Wednesday, 4th January, 2023.
· Minimum Bid Lot is 230 Equity Shares and in multiples of 230 Equity Shares thereafter.
· The Floor Price is 6.1 times the face value of the Equity Share and the Cap Price is 6.5 times the face value of the Equity Share.
MUMBAI, 26 DECEMBER, 2022 (GPN): Udaipur based Sah Polymers IPO 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 Rs. 61 to Rs. 65 per share. The bid for anchor investors will open on Thursday, December 29, 2022.
This is 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 total equity issued before IPO is 15.59 crores and along with reserves the net-worth is Rs 27.74 crores as at the end of the 30th June 2022. Post IPO, the Company’s net-worth shall stand at Rs 92.95 crores. The Book value post IPO would be 36 plus the profit surplus for the period.
Sah Polymers is led by Asad Daud and professionally backed by Hakim Sadiq Ali Tidiwala and Murtaza Ali Moti with a combined expertise of approximately 20 years in the FIBC packaging sector.
The 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.
Pantomath Capital Advisors Private Limited is the sole book running lead manager to the issue and Link Intime India Private Limited is the registrar to the offer. The equity shares are proposed to be listed on the Main Board of NSE, BSE and expected to debut on 12 January 2023.Ends
RHP Link: https://pantomath-web.s3.ap-
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