Comments
The initial public offer (IPO) of Sah Polymers was subscribed 5.35 times on Day-3 of subscription on Tuesday, thanks to a strong response from retail investors.
The ₹66-crore IPO received bids for 2.98 crore shares against 56.10 lakh shares on offer, according to data available with the exchanges. The public issue came at a price range of ₹61-65 a share.
The quota for retail investors was subscribed 16.53 times and the portion for non-institutional investors received bids for 6.49 times even as qualified institutional buyers managed to get 100 per cent.
The IPO has a fresh issue of 1.02 crore equity shares.
Anchor investors
As a part of the IPO process, the company raised ₹29.84 crore from three anchor investors — Leading Light Fund VCC-The Triumph Fund, Saint Capital Fund and Maven India Fund.
The Udaipur-based company is primarily engaged in manufacturing and selling of Polypropylene, high-density polyethylene, flexible intermediate bulk containers bags, woven sacks, HDPE/PP woven fabrics, woven-polymer based products.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.