• Shah Polymers' IPO will be a fresh issue of 1,02,00,000 equity shares with no Offer for Sale (OFS) component
Polymer maker Sah Polymers' initial public offer (IPO) will open this week on Friday, December 30, 2022, and close on January 4, 2023. As per the report, the company has fixed a price band of ₹61 to ₹65. per share for its issue.
Shah Polymers' IPO will be a fresh issue of 1,02,00,000 equity shares with no Offer for Sale (OFS) component.
The Udaipur based company is primarily engaged in manufacturing and sales of Polypropylene (PP)/High Density Polyethene (HDPE) FIBC bags, woven sacks, HDPE/PP woven fabric and woven polymer based products. The company has presence in 6 states and 1 union territory for the domestic market and internationally in 6 regions namely Africa, Middle East, Europe, USA, Australia and Caribbean.
The company proposes to utilize the net proceeds for financing the following items for setting up a new manufacturing facility to manufacture new types of Flexible Intermediate Bulk Containers (FIBC), repayment/prepayment of certain secured and unsecured borrowings received in whole or in part. Company and subsidiary, financing the working capital requirements of the company and for general corporate purposes.
Link Intime India Private Limited is the Registrar for the IPO. The Equity Shares of the Company are proposed to be listed on the leading stock exchanges BSE, NSE.
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