Sati Poly Plast IPO booked 21 times on Day 1, powered by strong retail demand

The initial public offer of Sati Poly Plast Limited, a manufacturer of flexible packaging materials, opened subscriptions with an upbeat response from the market. Sati Poly Plast IPO, valued at ₹17.36 crore, was booked over 21 times on the first day of bidding, led by a strong demand in the retail category. Overall, investors placed bids for over 1.91 crore shares against 8.86 lakh equity shares on offer.

Sati Poly Plast IPO category-wise subscriptions

The retail allocation of Sati Poly Plast IPO was subscribed 52.4 times at the end of bidding on Day 1. The company received bids for over 1.63 crore shares against 3,11,500 shares on offer in the category.

Non-institutional investors submitted bids for over 27.98 lakh shares against 1,33,350 shares offered to them. The NII portion of Sati Poly Plast IPO was booked over 20.98 times on day 1.

The Qualified Institutional Buyer (QIB) portion of Sati Poly Plast IPO consists of 4,44,500 shares.

Sati Poly Plast IPO: Offer size and other details

Sati Poly Plast IPO is valued at ₹17.36 crore. The book-built issue consists of an entirely fresh issue of 13.35 lakh shares, including an anchor allocation of 3.79 lakh shares. No offer for sale (OFS) portion exists in the public issue. Since it is a small and medium enterprises (SME) IPO, the company has reserved 70,000 shares for market makers— Spread X Securities Private Limited.

Beeline Capital Advisors Private Limited is the sole book-running lead manager for the IPO whereas Link Intime India Private Limited is serving as the registrar.

Sati Poly Plast IPO: Price band, lot size

Sati Poly Plast IPO’s price band has been fixed in the range of ₹123 to ₹130 per share. Retail investors interested in Sati Poly Plast IPO can place bids in a minimum lot size of 1000 shares, aggregating to an investment of ₹1,30,000. High Net-worth Investors (HNIs) can apply for Sati Poly Plast IPO by placing bids for 2 lots of 2000 shares totalling a minimum investment of ₹2,60,000.

Sati Poly Plast IPO: Subscription window, allotment date, listing date

Sati Poly Plast’s public issue will remain open for subscription between July 12 and 16. The share allotment status of Sati Poly Plast IPO is expected to be finalised on Thursday, July 18. Shares will be credited to the Demat account of successful bidders on July 19. Refunds for non-allottees will also be initiated on the same day.

Sati Poly Plast Ltd. shares will be tentatively listed on the NSE SME platform on July 22.

About Sati Poly Plast Ltd

Sati Poly Plast Limited offers food and beverage (F&B) packaging solutions, including snack bars, salty snacks, dry fruits and confectionery. The company has two manufacturing units in Noida.