Sah Polymers, the last IPO of the year, has had a great opening. On Friday, 86 percent subscription was received on the first day of the IPO. The IPO received bids for 48,04,470 shares against an offer of 56,10,000 shares, according to data available with the National Stock Exchange (NSE).
What’s up with the gray market? Talking about the gray market premium ie GMP of Sah Polymers, it is Rs.6. The issue price of this IPO has been fixed at Rs 61-65 per share. In this context, the listing of the stock can reach beyond Rs 70.
Explain that 1.02 crore new shares will be issued under the IPO. At the same time, the shares of the company will be listed on BSE and NSE. The allotment of Sah Polymers IPO is expected to happen by January 9. Eligible investors will receive shares in their demat accounts by January 11. The listing of the shares is expected to happen on January 12, 2023.
While Pantomath Capital Advisors is acting as the merchant banker to the issue, Link Intime India is the registrar to the offer.