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IPO

Sah Polymers files draft papers with Sebi

MyBigPlunge  

Udaipur-based Sah Polymers Ltd has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The IPO will be a fresh issue of 1,02,00,000 equity shares, with no offer-for-sale component. Pantomath Capital Advisors is the sole book running lead manager to the issue. Proceeds from the issue will be used 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. Sah Polymers manufactures polypropylene (PP)/ high density polyethylene (HDPE) FIBC bags, woven sacks, HDPE/PP woven fabrics and woven polymer based products.