Sati Poly Plast IPO Lists at 90% Above IPO Price

On July 22, Sati Poly Plast's shares made its public market debut, launching at a price of ₹247, which was ninety percent more than the share issuance price of ₹ 130 on the NSE SME platform.

A new issue of 13.35 lakh equity shares, the ₹ 17.36-crore public offer attracted a lot of interest from investors, as it was approximately 500 times subscribed. Qualified institutional buyers, or QIBs, and non-institutional investors were the next most active groups, with retail investors purchasing 669 times their allocated quota.

Sati Poly Plast Limited was founded in July 1999 and is an industry leader in manufacturing multipurpose flexible packaging materials. The company runs two production facilities: Plant 2 in Udhyog Kendra, Noida, and Plant 1 in Gautam Budh Nagar, Noida. The installed capacity of both plants is 540 tons per month.

Read about Sati Poly Plast IPO Subscription Status

- The proceeds of the new issue will be used for general corporate objectives and working capital needs.

- The subscription period for the Sati Poly Plast IPO was available from Friday, July 12, until Tuesday, July 16. The Sati Poly Plast IPO listing date is July 22, and the IPO allotment was completed on July 18.

- The IPO price range for Sati Poly Plast was ₹123 to ₹130 per share. Through the book-built issuance, which was a completely new issue of 13.35 lakh equity shares, the company was able to raise ₹17.36 crore.

The manufacturer of multipurpose packaging materials saw strong demand for its public offering during the bidding process. The initial public offering (IPO) of Sati Poly Plast received an astounding 499.13 times as many bids for 44.22 crore equity shares as opposed to the 8.86 lakh shares that were available for purchase.

To Summarize

Sati Poly Plast gained 90% from the ₹ 130 issue price when it was listed on the NSE SME at ₹247. IPO received almost 400 bookings. From 2015 to 2019, it went from trading to production and provides end-to-end packaging solutions.