Sah Polymers was incorporated on April 20, 1992, as Peacock Continental Limited. The company is primarily engaged in manufacturing and selling polypropylene/high-density polyethylene FIBC bags, woven sacks, woven fabrics, and woven polymer-based products of different weights, sizes and colours as per customer specifications.
| Bidding Dates |
|---|
| 30 Dec 2022 - 04 Jan 2023 |
| Subscription |
|---|
| 17.46x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,950 | 1 | 13 | 230 | 10.2 M | ₹61 - ₹65 | 60.46 % | ₹622.2 M - ₹663.0 M | RHP DOC |
Sah Polymers IPO SUBSCRIPTION STATUS
04 Jan '23Sah Polymers IPO overall subscription rate was 17.46 times the total available shares
Sah Polymers IPO retail subscription rate was 39.78 times in the retail segment
Sah Polymers IPO non-institutional investor subscription rate was 32.69 times in the non-institutional investor category
Sah Polymers IPO Qualified Institutional Bidder subscription rate was 2.4 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 10% | 15% | 75% |
04 Jan 2023 (Day 4) | 39.78x | 32.69x | 2.4x |
03 Jan 2023 (Day 3) | 16.51x | 6.49x | 1.05x |
02 Jan 2023 (Day 2) | 7.43x | 2.92x | 0.39x |
30 Dec 2022 (Day 1) | 1.93x | 0.93x | 0.38x |
Sah Polymers FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| Q1FY23 | 12.5 | 272.2 | -2.1 | -5.3 | 8.7% |
| FY22 | 43.8 | 805.1 | -7.9 | -18.7 | 9.6% |
| FY21 | 12.7 | 550.7 | 13.9 | -9.6 | 6.0% |
Sah Polymers IPO SUBSCRIPTION STATUS DETAILS
Sah Polymers had 10.2 M shares on offer
Sah Polymers IPO offer price was in the range ₹61 - ₹65
Sah Polymers IPO minimum Investment was ₹14950
Sah Polymers IPO issue size was ₹ 622.2 M - ₹ 663.0 M
Sah Polymers had a minimum lot size of 230 Shares per application
Sah Polymers NUMBER OF SHARES ON OFFER
Sah Polymers IPO IMPORTANT DATES
| Issue Open Date | 30 Dec 2022 |
| Issue close Date | 04 Jan 2023 |
| Allotment Date | 09 Jan 2023 |
| Refund Date | 10 Jan 2023 |
| Demat Account Credit Date | 11 Jan 2023 |
| Listing Date | 12 Jan 2023 |
| Listing on Exchange(s) | NSE and BSE |
| Sah Polymers Allotment Status | Exchange |
Sah Polymers IPO subscription opened on 30 Dec 2022, and closed on 04 Jan 2023
IPO allotment for Sah Polymers was finalized on Monday, 09 Jan 2023
IPO listing for Sah Polymers was on NSE and BSE on Thursday, 12 Jan 2023
Sah Polymers IPO LISTING GAINS
| Issue Price (adjusted) | 65.0 |
| Listing Open Price | 85.0 |
| Listing Close Price | 89.3 |
| Listing Gain% | 30.8% |
| Current Gain% | 28.5% |
Sah Polymers Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Aeroflex Neu Ltd. | 83.6 | 215.5 | 226.7 | 6.9 | 1.7 | 1.6 | 1.2 | 134.2 | 2.1 | 1.7 | 733.7 | 0.4 | 32.7 |
| Garware Hi-Tech Films Ltd. | 7155.5 | 16623.9 | 42.9 | 2.3 | 7.4 | 12.7 | 11.2 | 2185 | 1 | 338.2 | 2.1 | 166.9 | 19 |
| EPL Ltd. | 242.5 | 7766.7 | 20 | -10.8 | 1.5 | 13.6 | 7.9 | 4806.5 | 12.9 | 388.9 | 8.3 | 12.1 | -1.8 |
| AGI Greenpac Ltd. | 706.9 | 4573.5 | 12.6 | 3.1 | 1.7 | 14.6 | 9.9 | 2760.4 | 6 | 351.7 | 9.1 | 56 | 4.1 |
| TCPL Packaging Ltd. | 4274 | 3889.3 | 33.7 | -2.5 | 2.1 | 13.6 | 5.7 | 1835.6 | 2.9 | 97.8 | -31.6 | 126.9 | -13.6 |
| Polyplex Corporation Ltd. | 1190.1 | 3736 | 24.1 | 1.7 | 0.5 | 1.1 | 0.5 | 7173.4 | 2.8 | 45 | -78.5 | 49.5 | 13.9 |
Sah Polymers IPO Reports
Sah Polymers INFORMATION ON IPO ISSUE
About Sah Polymers
Sah Polymers was incorporated on April 20, 1992, as Peacock Continental Limited. The company is primarily engaged in manufacturing and selling polypropylene/high-density polyethylene FIBC bags, woven sacks, woven fabrics, and woven polymer-based products of different weights, sizes and colours as per customer specifications.
Object of the Issue
- Setting up a new facility to manufacture new variants of flexible intermediate bulk containers
- Repayment/prepayment of certain secured and unsecured borrowings availed by the company and its subsidiary
- Funding the working capital requirements of the company
- General corporate purposes
Sah Polymers - PROMOTERS
| Name |
|---|
| Sat Industries Limited |
Sah Polymers Book Running Lead Managers
Pantomath Capital Advisors Private Limited
ipo@pantomathgroup.com
Sah Polymers Registrar to the Offer
Link Intime India Private Limited
Sahpolymers.ipo@linkintime.co.in
Sah Polymers Strengths
Product portfolio
The company's product portfolio includes flexible intermediate bulk containers, container bags, woven fabric and HDPE woven fabric, woven sacks, PP fabric, box bags, fabric rolls, and bags for flexible packaging
Customer base
The company has a customer base across industries and geographies, both domestic and overseas
Management team
Its management has experience in key areas such as production, sales & marketing, and finance
Sah Polymers Risks
Negative cash flows
The company has experienced negative cash flows from operations in the recent past and may do so again in the future
Dependent on few customers
The company derives a significant portion of its revenue from limited customers, and the loss of one or more such customers could adversely affect the business, results of operations, financial condition and cash flow
Competition
The industry segments in which the company operates are fragmented, and it faces competition from other large and small players. This may affect business operations and financial conditions
IPO FAQs
The promoter of the company is Sat Industries Limited.
The category allocation of qualified institutional buyers is 75.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 10.0%.
The price band of the IPO is Rs 61.0 - 65.0.
The IPO application opens on Dec 30, 2022 and closes on Jan 04, 2023.
The minimum lot size for the IPO is 230. The maximum lot size for the IPO is 2990.
For all category investors, the minimum application amount for this IPO is Rs. 14,950.0, the maximum value for this IPO is Rs 194,350.0.
This IPO will be allotted on Jan 09, 2023.
The refund will be credited to your account on Jan 10, 2023.
The allotted shares will be credited to your demat on Jan 11, 2023.
Sah Polymers Ltd.’s shares listed on the stock exchanges on Jan 12, 2023.