Customised bulk packaging solutions provider Sah Polymers is expected to finalise its IPO share allotment on January 9, which is eagerly awaited by participants, especially after healthy closing to the public issue.
Investors have two available online options to check their application status by following three easy steps.
a) Select issue type 'equity' and issue name 'Sah Polymers Limited'
b) Enter either 'application number' or 'PAN number'
c) Check box (I'm not a robot) and click on 'search' button.
Alternatively, the allotment status can also be checked on the IPO registrar's website.
a) Select company name 'Sah Polymers Limited - IPO'
b) Select and accordingly enter either 'PAN number', or 'application number', or 'DP Client ID'
c) Finally click on 'search' button.
Once the share allotment gets finalised, the refunds will be credited to the bank accounts of unsuccessful investors by January 10, and eligible investors will get shares in demat accounts by January 11.
And finally, Sah Polymers will make its grand debut on the BSE and NSE on January 12. This would be the second listing since the beginning of New Year 2023, after Radiant Cash Management Services which had started the year on a strong note despite tepid IPO subscription and market correction.
The grey market, which is generally looked at to know a bit of expected listing performance, is indicated that the stock may debut with a moderate premium over expected final issue price of Rs 65 per share.
Analysts said Sah Polymers shares traded with 5-15 percent premium in the grey market, an unofficial trading platform trading in the IPO shares.
The Rs 66-crore public issue has received strong response from investors, subscribing 17.5 times as retail investors and high net-worth individuals have bought shares nearly 40 times and 33 times the allotted quota respectively. Qualified institutional buyers have bid 2.4 times the portion set aside for them.
The initial public offering was entirely a fresh issue by the company.
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, catering to different industries including agro pesticides, basic drug, cement, chemical, fertilizer, food products, textile, ceramic, and steel.
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