Udaipur-based Sah Polymers Limited is geared up to launch its initial public offering (IPO) on 30th December.
The company is primarily engaged in manufacturing and selling of Polypropylene (PP)/ High Density Polyethylene (HDPE) Flexible Intermediate Bulk Containers (FIBC) bags, woven sacks, HDPE/PP woven fabrics, woven polymer-based products.
Led by Asad Daud, Sah Polymers is professionally backed by Hakim Sadiq Ali Tidiwala and Murtaza Ali Moti with a combined expertise of approximately 20 years.
The company provides tailored bulk packaging solutions to business-to-business producers in a variety of industries, including textiles and others.
In a statement, the company informed that it is exporting to 14 countries including USA, UK, Australia and the majority of the sales comes from exports.
The company’s sales have grown from Rs. 49.90 crore in FY 2020 to Rs. 81.23 crore in FY 2022. It operates at 85 per cent to 92 per cent of the installed capacity and is therefore going for further capex. The total capex is Rs. 33.81 crore, out of which the company has taken bridge loan of Rs. 15.71 crore from the holding company and deployed while the IPO approvals came so that the overall timeframe of the installation is not delayed.
The new project is estimated to commence commercial operations within this year 2022-23 itself. Out of the current manufacturing facility (in Udaipur, Rajasthan), the company manufactures a diverse range of HDPE/PP woven sacks and FIBC products with filling capacity of up to 500 kg per bag/sack.
The company intends to manufacture a new variant of FIBC products with filling capacities of up to 2,500 kg out of the new unit.
