Morgan Stanley Asia (Singapore) Pte - ODI acquired 54.95 lakh shares while hedge fund Ghisallo Master Fund LP bought 49.8 lakh shares in the company via open market transactions. Both FIIs bought the company's shares at an average price of Rs 534.8 apiece.
The bulk packaging solutions provider raised Rs 66.30 crore by issuing 1.02 crore shares via the public issue.
About 1,579 shares advanced, 1,831 shares declined and 145 remained unchanged as the benchmark indices end lower for the third day in a row
Sah Polymers offers customised bulk packaging solutions to companies catering to several industries including agro pesticides, cement, chemical, fertilizer, food products, ceramic, and steel.
Sah Polymers | Shares of the company were trading at a 10-15% premium over the issue price in the grey market, analysts have said
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 initial share-sale received bids for 9,79,44,810 shares against 56,10,000 shares on offer, as per data available with the NSE.
Sah Polymers IPO | The customised bulk packaging solutions provider launched its Rs 66.3-crore public issue for subscription on December 30, with a price band of Rs 61-65 per share.
The portion set aside for retail investors and high networth individuals were fully booked on first day itself. Retail investors subscribed 4.57 times the allotted quota, while HNIs quota fetched 1.43 times bids.
Sah Polymers IPO | The IPO is a fresh issue of 1.02 crore equity shares. There is no OFS component to the issue. Sah Polymers’ profit for FY23 grew by 244 percent to Rs 4.4 crore, while revenue climbed 46.2 percent to Rs 80.5 crore, compared to the previous year. Exports accounted for over than 55 percent of the topline.