Incorporated in 1992, 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 and woven polymer.
The company 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.
Sah Polymers Limited have two business divisions (i) domestic sales; and (ii) exports. 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.
As of March 31, 2022, the company is supported by 97 committed staff based on the payroll. The company has one manufacturing facility with an installed production capacity of 3960 m.t. p.a. located at Udaipur, Rajasthan.
Competitive Strength:
- Product portfolio
- Customer base across geographies and industries
- Management Team
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Total Borrowing |
|---|---|---|---|---|---|
| 31-Mar-20 | 35.93 | 49.91 | 0.3 | 18.81 | 10.37 |
| 31-Mar-21 | 40.58 | 55.34 | 1.27 | 20.09 | 13.79 |
| 31-Mar-22 | 68.67 | 81.23 | 4.38 | 26.65 | 30.54 |
| 30-Jun-22 | 75.35 | 27.59 | 1.25 | 27.74 | 33.15 |
| Amount in ₹ Crore |
Objects of the Issue
The company proposes to utilize the Net Proceeds towards funding of the following objects:
1. Setting up of a new manufacturing facility to manufacture new variant of Flexible Intermediate Bulk Containers (FIBC).
2. Repayment/ Prepayment of certain secured and unsecured borrowings in full or part availed by the Company and the Subsidiary Company.
3. Funding the working capital requirements of the Company.
4. General corporate purposes.
Sah Polymers IPO Details
| IPO Date | Dec 30, 2022 to Jan 4, 2023 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹61 to ₹65 per share |
| Lot Size | 230 Shares |
| Issue Size | 10,200,000 shares of ₹10 (aggregating up to ₹66.30 Cr) |
| Fresh Issue | 10,200,000 shares of ₹10 (aggregating up to ₹66.30 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| QIB Shares Offered | Not less than 75% of the Issue |
| NII (HNI) Shares Offered | Not more than 15% of the Issue |
| Retail Shares Offered | Not more than 10% of the Issue |
| Company Promoters | Sat Industries Limited is the company promoter. |
Sah Polymers IPO Tentative Timetable
Sah Polymers IPO opens on Dec 30, 2022, and closes on Jan 4, 2023. The Sah Polymers IPO bid date is from Dec 30, 2022 10.00 A.M. to Jan 4, 2023 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 5 PM on the issue closing day.
| Event | Tentative Date |
|---|---|
| Opening Date | Dec 30, 2022 |
| Closing Date | Jan 4, 2023 |
| Basis of Allotment | Jan 9, 2023 |
| Initiation of Refunds | Jan 10, 2023 |
| Credit of Shares to Demat | Jan 11, 2023 |
| Listing Date | Jan 12, 2023 |
Sah Polymers IPO Lot Size
The Sah Polymers IPO lot size is 230 shares. A retail-individual investor can apply for up to 13 lots (2990 shares or ₹194,350).
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 230 | ₹14,950 |
| Retail (Max) | 13 | 2990 | ₹194,350 |
| S-HNI (Min) | 14 | 3,220 | ₹209,300 |
| B-HNI (Min) | 67 | 15,410 | ₹1,001,650 |
Sah Polymers IPO Promoter Holding
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding | 60.46% |
Sah Polymers IPO Review
The company is operating in a highly competitive segment with two of its group company having an interest in a similar business. There are many other points of concern. Even based on its super earnings the issue is highly-priced. Initial listing in the “T” group may curtail speculative movements in the initial period. There is no harm in skipping this pricy bet. Read detail review…
Sah Polymers IPO Anchor Investors
Sah Polymers IPO Anchor investor bid ended on Jan 4, 2023. A total of 10,200,000 shares are offered to Anchor investors. Sah Polymers IPO Anchor Investor Lock-in Period is Dec 29, 2022 for 50% of equity shares and May 15, 2023 for the remaining portion.
- Anchor Investor Bid Date: Dec 29, 2022
- Anchor Portion Size: Rs.66.30 crore (Shares offered * Upper Price)
- Anchor lock-in period end date (50% Shares): Around Feb 20, 2023 (30 Days)
- Anchor lock-in period end date (remaining shares): Around May 15, 2023 (90 Days)
Sah Polymers IPO Prospectus
Company Contact Information
Sah Polymers Limited
E-260-261
Mewar Industrial Area
Madri Udaipur Rajasthan 313003
Phone: +91 294 2493889
Email: cs@sahpolymers.com
Website: https://sahpolymers.com/
Sah Polymers IPO Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: Sahpolymers.ipo@linkintime.co.in
Website: https://linkintime.co.in/