Sah Polymers IPO Subscribed 5.35 Times On Thrid Day Of Offer

The initial public offer of Sah Polymers was subscribed 5.35 times on the third day of subscription on Tuesday.
     
The initial share-sale received bids for 2,99,95,450 shares against 56,10,000 shares on offer, according to data available with the NSE.
     
The category meant for Retail Individual Investors (RIIs) was subscribed 16.53 times, while the portion for non-institutional investors received 6.49 times subscription and Qualified Institutional Buyers (QIBs) 1.05 times.
     
The Initial Public Offer (IPO) has a fresh issue of 1.02 crore equity shares and is in a price range of 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.