Rajasthan-based Sah Polymers files draft papers for IPO
- ByStartupStory | April 22, 2022
Sah Polymers, situated in Rajasthan, has filed preliminary paperwork for an initial public offering with the financial markets regulator. The IPO will consist of a new issue of 1.02 crore shares, with the proceeds going towards the establishment of a plant to produce new flexible intermediate bulk container variants (FIBC).
The proceeds from the IPO would also be used to pay off debts (Rs 16.66 crore), meet working capital requirements (Rs 14.96 crore), and for general business purposes. Sah Polymers specializes in producing and distributing FIBC bags, woven sacks, HDPE/PP woven fabrics, and woven polymer-based goods made of polypropylene (PP) and high-density polyethylene (HDPE).
Business-to-business (B2B) manufacturers in industries such as agro pesticides, basic drugs, cement, chemical, fertilizer, food goods, textile, ceramic, and steel can benefit from the company’s unique bulk packaging solutions.
It now has one facility in Udaipur with a capacity of 3,960 million tonnes per annum, as well as a presence in six states and one union territory. It exports to six different regions, including Africa, the Middle East, Europe, the United States, and Australia.
For the nine months ending December 2021, Sah Polymers made a consolidated profit of Rs 4.32 crore (on a pro forma basis) on a revenue of Rs 64.3 crore, while for the financial year 2020-21, it made a profit of Rs 1.33 crore on revenue of Rs 68.34 crore. The issue’s book running lead manager is Pantomath Capital Advisors, and the offer’s registrar is Link Intime India.
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