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Sah Polymers IPO Listing: There has been a great listing of Sah Polymers on the stock exchange. The company had issued an IPO at Rs 65 per share and the listing of the stock has taken place at Rs 85 with a gain of 30 per cent. But after the listing, the stock is seeing even more growth. At present, the share of Shah Polymers is trading at 89.25 per cent with a gain of 37.33 per cent.
Shah Polymers came up with an IPO at a face value of Rs 10 at Rs 65 per share. The company has raised Rs 66.3 crore from the IPO. After the listing of the stock on the stock exchange, the market cap has reached Rs 230 crore. The IPO was subscribed a total of 17.46 times, in which the retail investors’ quota was subscribed 39.78 times. The non-institutional investors’ quota was subscribed 32.69 times and the institutional investors’ quota was subscribed 2.4 times. Faded listing in the gray market was being feared.
The NSE Bell has rung in celebration of the listing ceremony of Sah Polymers Limited on the Exchange today! #NSE #Listing #IPOListing #NSEIndia #stockmarket #ShareMarket #SahPolymersLimited @AshishChauhan pic.twitter.com/nX9oxoGEo2
— NSE India (@NSEIndia) January 12, 2023
The name of Sah Polymers comes in the giant companies making plastic bags in the country. Saah Polymers is engaged in the manufacture of plastic bags. It is used in agro pesticides, medicine, cement, chemical, fertilizers, food products, clothes, tiles and steel industries. Its business is in Africa, Middle East, Europe, America, Australia and the Caribbean, including a total of 7 states in the country. In the financial year 2022, it had earned 244 percent more profit of Rs 4.38 crore from the business on an annual basis. The company’s revenue has increased by 46.2 percent to reach Rs 80.5 crore.
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