Sah Polymers shares settle over 37% higher in debut trade: Report

Shares of Sah Polymers on Thursday ended with a premium of over 37 per cent on the stock exchanges against the issue price of Rs 65.

The stock made its debut at Rs 85, reflecting a jump of 30.76 per cent from the issue price on the BSE. Later, it rallied 37.30 per cent to settle at Rs 89.25 apiece.

On the NSE, the shares began the trade at Rs 85 and finally ended at Rs 89.25 each.

In volume terms, 4.16 lakh shares of the firm were traded on the BSE and 41.82 lakh shares on the NSE during the day.

The Udaipur-based company provides tailored bulk packaging solutions to business-to-business producers in a variety of industries, including agro pesticides, basic drugs, cement, chemicals, fertilisers, food products, textiles, ceramics, and steel.

Meanwhile, in the broader market, the 30-share BSE benchmark ended 147.47 points or 0.25 per cent lower at 59,958.03.

The initial public offer of Sah Polymers was subscribed 17.46 times last week.

The initial share-sale had a price range for the offer at Rs 61-65 a share.