Sah Polymers IPO Subscribed 2.37 Times On Day Two Of Offer

The Initial Public Offer (IPO) of Sah Polymers was subscribed 2.37 times on the second day of subscription on Monday.
     
The IPO received bids for 1,33,06,420 shares against 56,10,000 shares on offer, according to NSE data.
     
The category meant for Retail Individual Investors (RIIs) was subscribed 7.46 times, while the portion for non-institutional investors received 2.94 times subscription and Qualified Institutional Buyers (QIBs) 39 per cent.
     
The initial public offer has a fresh issue of 1.02 crore equity shares.
     
Price range for the offer is at Rs 61-65 a share.
     
Pantomath Capital Advisors is the manager to the offer.
     
The Udaipur-based company provides tailored bulk packaging solutions to business-to-business producers in a variety of industries, including agro pesticides, basic drugs, cement, chemicals, fertilisers, food products, textiles, ceramics, and steel.
     
The equity shares are proposed to be listed on the BSE and NSE.