The public issue of equity shares of SAH POLYMERS LIMITED will open for subscription on December 30, 2022 and closes on January 04, 2023. It is expected to list on the stock exchanges on January 12, 2023. What does the company do? Why is the company going public? Who are its key competitors? Its key strengths, and lot more. Here’s everything that you want to know about the company to analyse the IPO.
Incorporated in April 1992 and promoted by Sat Industries, Sah Polymers is an ISO 9001:2015 certified company primarily engaged in manufacturing and selling Polypropylene (PP)/High-Density Polyeth-ylene (HDPE) FIBC Bags, Woven Sacks, HDPE/PP woven fabrics-based products of different weights, sizes and colours as per customers’ specifications. They offer customised bulk packaging solutions to business-to-business manufacturers catering to different industries such as Agro-Pesticides Industry, Basic Drug Industry, Cement Industry, Chemical Industry, Fertilizer Industry, Food Products Industry, Textile Industry Ceramic and Steel Industry.
The company also enters into arrangements with third-party manufacturers to manufacture tape and fabric based on customer needs. Presently, they have one manufacturing facility with an installed production capacity of 3960 m.t. p.a. located in Udaipur, Rajasthan.
They have two business divisions: domestic sales and exports. The company has a sales presence in 5 states and 1 union territory in its domestic market, based on sales in the 3 months ended June 30, 2022, and FY 2022, respectively. Internationally, they export to 14 countries, including Algeria, Togo, Ghana, Poland, Portugal, France, Italy, Dominican Republic, USA, Australia, UAE, Palestine, UK, and Ireland.
Why is the Company going public?
Given below are the objectives of the Company –
The Company proposes to utilise the Net Proceeds from the Fresh Issue towards funding of the following objects:
Retting up of a new manufacturing facility to manufacture new variant of Flexible Intermediate Bulk Containers (FIBC)
Repayment of certain secured and unsecured borrowings in full availed by the Company
Funding the working capital requirements of Company
General Corporate Purposes
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