Sah Polymers IPO – Review
Sah Polymers Limited – a leading PP Woven Bags Manufacturer in India is planning to raise INR 66 Crore via IPO [Fresh Issue 66 Cr + OFS NIL]
Sah Polymers – History
The Company was originally incorporated in the year 1992 under the name and style of Peacock Continental Limite at Udaipur (Rajasthan, India), under the provisions of the Companies Act, 1956.
The name of the company was changed to Sah Polymers Limited pursuant to a special resolution passed in the Extra Ordinary General Meeting of the company held on July 22, 1998
Sah Polymers – Business
Sah Polymers Limited (an ISO 9001:2015 certified company) is primarily engaged in the manufacturing and selling of Polypropylene, BOPP Laminated Bags, High-Density Polyethylene, Woven Bags, and Flexible Intermediate Bulk Containers in India.
The Company offers customised bulk packaging solutions to B2B (business-to-business) manufacturers catering to different industries such as –
- Agro Pesticides Industry,
- Basic Drug Industry,
- Cement Industry,
- Cattle Feed Industry,
- Chemical Industry,
- Fertilizer Industry,
- Food Products Industry,
- Metal Industry,
- Mineral Industry,
- Paper Mill Industry,
- Textile Industry,
- Ceramic Industry, and
- Steel Industry
Besides this, the Company is a Del Credere Associate cum Consignment Stockist of Indian Oil Corporation Limited (IOCL) and also operates as a Dealer Operated Polymer Warehouse (DOPW) of Indian Oil Corporation Limited for their polymer division.
The Company also enters into arrangements with third-party manufacturers to manufacture its tape and fabric based on customers’ requirements.
The Company mainly has 2 business divisions, first is domestic sales and second is exports.
Company Presence
The Company has a presence in 6 states and 1 union territory as far as the domestic market is concerned; while internationally it supplies products in 6 regions such as Africa, Australia, Europe, the Middle East, South-East Asia, the USA, and Caribbean Island.
Manufacturing Facility
Presently, the company has one manufacturing facility with an installed production capacity of 3960 m.t. p.a. located at Udaipur (Rajasthan, India).
Strategies Ahead
- Setting up a new manufacturing facility to widen product portfolio and increase our capacity
- Increase customer network in existing markets and enter new geographical markets
- Carefully evaluate and pursue accretive acquisitions
Promoters
Sat Industries Limited
IPO Details
30 Dec 2022 to 04 Jan 2023
Face Value (FV) = INR 10
Issue Price = INR 61 to INR 65
Minimum Investment Amount = INR 14950
Minimum Bid = 230 Shares
Listing On = BSE, NSE
Book Running Lead Managers
Pantomath Capital Advisors Private Limited
Financials
Conclusion
FinBlab recommends NEUTRAL ratings on Sah Polymers IPO
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