Sah Polymers, whose Rs 66.30 crore initial public offering (IPO) received a strong response from bidders, is likely to finalise basis of allotment today.
The IPO was a hit among investors, as the issue by the polymer products player was subscribed 17.46 times during the four-day bidding process. The issue ran from December 30, 2022 to January 4, 2023 and was sold in the range of Rs 61-65 price band.
Incorporated in 1992, Sah Polymers 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.
Last heard, Sah Polymers was commanding a premium of Rs 6-8 in the grey market, signaling an upside of 10 per cent for the investors on listing. However, the premium in the unofficial market is fluctuating constantly.
The quota reserved for retail bidders was subscribed a whopping 39.78 times in the four-day bidding process. The quota reserved for non-institutional buyers fetched 32.69 times bids. The allocations for institutional bidders were booked only 2.4 times.
Sah Polymers’ IPO was not widely tracked by analysts during the issue and hat the issue had received mixed ratings from the ones that reviewed the issue. A few analysts were positive on Sah’s growth but some others had suggested to give the IPO a miss.
Investors, who bade for the issue, can check the allotment status on BSE’s website:
1) Visit https://www.bseindia.com/investors/appli_check.aspx
2) Under the issue type, click Equity
3) Under the issue name, select Sah Polymers Limited in the dropbox
4) Write the application number
5) Add the PAN card ID
6) Click on ‘I am not a Robot’ and hit submit
You can also check the allotment status on the online portal of Link Intime India
Private Limited ( https://linkintime.co.in/MIPO/Ipoallotment.html), the registrar to the issue.
The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications, and carries out the allotment process as per the prospectus.
The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading of refunds, and attending to all investor-related queries after the issue is completed.
1) Go to the web portal of Link Intime India Private Limited
2) Select the IPO in dropbox whose name will be populated only if the allotment is finalised
3) You may be required to select either one of the three modes: Application number, Client ID or PAN ID
4) In application type, select between ASBA and non-ASBA
5) Enter the details of the mode you selected in Step 2
6) For security purposes, fill the captcha accurately
7) Hit submit
Bidders who could not get allotment in the IPO may see the initialization of refunds on January 10. Others, who would be allotted shares may see the credit of shares in the demat account by January 11. The listing of the IPO is likely on January 12.
Also Read: Ashish Kacholia upped stake in Yasho Industries, Xpro India; stayed put on Fineotex Chemicals
Also Read: Sensex jumps over 950 points, Nifty tops 18,100: Abbott India, IDBI & 134 others hit 52-week high