Sah Polymers files DRHP with SEBI for IPO
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Sah Polymers has filed draft red herring prospectus (DRHP) with Securities and Exchange Board of India (SEBI) for its initial public offering (IPO). The IPO will be a fresh issue of 1,02,00,000 equity shares, with no offer-for-sale component.
Proceeds from the issue will be utilised for manufacturing of new Flexible Intermediate Bulk Containers (FIBC) plant and expansion of production capacity; funding working capital requirements for the new project; and payment of certain debt. Pantomath Capital Advisors is the sole book running lead manager to the issue. The equity shares are proposed to be listed on the BSE and NSE.
Udaipur-based 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 based products.
