Sah Polymers IPO

Sah Polymers IPO | Review

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Sah Polymers Limited has come up with an initial public offer (IPO). It will open on December 30 – January 04 at Rs.61-65 a share. The IPO issue size is around Rs.66.30 crores. The minimum bid will be for 230 shares and in its multiples thereafter.


Sah Polymers Limited was incorporated in the year 1992. It is primarily engaged in the manufacturing and selling of Polypropylene (PP)/High-Density Polyethylene (HDPE) FIBC Bags, Woven Sacks, HDPE/PP woven fabrics based products of different weights, sizes and colors as per customer’s specifications. Also, it offers customized bulk packaging solutions to B2B manufacturers catering to different industries such as Agro Pesticides Industry, Basic Drug Industry, Cement Industry, Chemical Industry, Fertilizer Industry, Food ProductsIndustry, Textile Industry Ceramic Industry and Steel Industry. Besides, the company is a Del Credere Associate cum Consignment Stockist (DCA/ CS) of Indian Oil Corporation Limited and also operates as Dealer Operated Polymer Warehouse (DOPW) of Indian Oil Corporation Limited for their polymer division. 

The company enters into arrangements as third-party manufacturers to manufacture its tape and fabric based on customers’ requirements. It has two business divisions (i) domestic sales; and (ii) exports. It has a presence in 5 states and 1 union territory for the domestic market based on sales made. Internationally, the company exports its products to 14 countries such as Algeria, Togo, Ghana, Poland, Portugal, France, Italy, Dominican Republic, USA, Australia, UAE, Palestine, UK and Ireland. 

Presently, the company has one manufacturing facility with an installed production capacity of 3960 m.t.p.a. located at Udaipur, Rajasthan. Over the years, it has made investments, from time to time, in manufacturing infrastructure to support product portfolio requirements and its reach.



SAT Industries Limited  – 100.00%

Promoter Holding

Pre-Issue Shareholding – 100.00%Post-Issue Shareholding – 60.46%

Strength & Weakness

Diverse product portfolioNegative cash flows in the recent past,
Focus on qualityCompetition from small & large players
Experienced managementrequire a number of approvals, NOCs, licenses, etc.
Dedicated employee baseAvailed unsecured loans from banks
Diversified customer baseHave certain contingent liabilities
In the process of, expanding manufacturing capacitiesRequires significant amounts of working capital


Container bagPP woven Fabric
HDPE Woven FabricWoven Sacks
PP FabricFlexible Intermediate Bulk Containers
Fabric RollsBags for Flexible Packaging


Kanpur Plastipack Ltd.
Rishi Techtex Ltd.
Jumbo Bag Ltd.
SMVD Polypack Ltd.
EMMBI Industries Ltd
Commercial Syn. Bags Ltd.

Company Financials

YearRevenue (in Crore)Profit (in Crore)

Objects of Issue

1) Setting up of a new manufacturing facility to manufacture a new variant of FIBC

2) Repayment of certain secured and unsecured borrowings in full availed by the company

3) Funding the working capital requirements of our Company

4) General corporate purposes.

Sah Polymers IPO Lot Size

Retail (Min)1230Rs.14,950
Retail (Max)132,990Rs.1,94,350
S-HNI (Min)143,220Rs.2,09,300
B-HNI (Max)6715,410Rs.10,01,650

Sah Polymers IPO Details

IPO Opening Date December 30, 2022
IPO Closing Date January 04, 2023
Face Value Rs.10 per Equity Share
IPO Price Rs.61-65 per share
Market Lot 230 shares
Minimum Order Quantity 230 shares
Listing At NSE, BSE
Fresh Issue1,02,00,000 shares
Issue Size Up to Rs.66.30 Crore
QIB Shares Offered 75% of the offer
Retail Shares Offered 10% of the offer 
NII/HNI Shares Offered 15% of the offer

Sah Polymers IPO Timetable

IPO DateDec 30 – Jan 04, 2022
Allotment DateJanuary 09, 2022
Initiation of RefundsJanuary 10, 2022
Credit of share to Demat a/cJanuary 11, 2022
IPO Listing DateJanuary 12, 2022

Sah Polymers IPO GMP

The current GMP is around Rs.6

Allotment Status

Link Intime –

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About the author

Shankar Awale

Hey! I am Shankar Awale an aspiring blogger with an obsession for all things of Finance. This blog is dedicated to help people to learn about Financial Knowledge in easy language.

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