On Thursday, Sah Polymers made its debut on the NSE and BSE. The company’s shares are traded at Rs 85, a 31% premium to its issue price of Rs 65 per share.

After listing, the stock traded as high as Rs 89.25, up 37% from the issue price. The stock was trading at Rs 88.95 at 10:59 am, while the S&P BSE Sensex was down 0.42%. A total of 4.1 million shares changed hands on the NSE and BSE.

Shares of Sah Polymers are traded on the exchange list of the “T” group of securities. The stock will trade for 10 trading days in the Trade-for-Trade (T2T) segment. In the T2T segment, every trade must result in delivery and intraday position netting is not allowed.

Sah Polymers is a leading manufacturer of Polypropylene (PP) Woven Bags in India (Udaipur, Rajasthan). The company manufactures and exports PP woven bags, high-density polyethylene (HDPE) box bags, flexible intermediate bulk containers (FIBC), and BOPP laminated bags. The company has a presence in the Indian market. It exports products to Europe, Africa, the Middle East, Australia, Southeast Asia, Caribbean Islands, Latin and Central America, and the United States.

Sah Polymers’ Rs 66.30 crore IPO was 17.46 times subscribed. The company proposes to use the net proceeds to establish a new manufacturing facility to manufacture a new type of flexible intermediate bulk container (FIBC). The fund will also be used to repay/advance certain secured and unsecured borrowings utilized in whole or in part by the company and its subsidiaries and to finance the company’s working capital requirements.