Sigachi Industries listed on BSE, NSE ; lists with a bumper opening at 252% premium

November 16, 2021 Trading 2 min read
sigachi industries

Sigachi Industries stock price received a staggering response from the investors, and the trade took off with a significant premium of 252.76 percent on the bourses. The share price is at Rs 603.75, up by 440.75 points ( or 270%). 

A listing premium of at least 100 percent over the issue price was expected from the indications of the listing expectations as well as grey market premium.

Sigachi Industries Limited IPO opened for subscription on 1st November 2021 and closed on 3rd November 2021. 

Sigachi Industries IPO Subscription Status

Investor Category Subscription (times)
Qualified Institutions 86.51
Non-Institutional Buyers 172.43
Retail Investors 80.49
Total 101.91

Sigachi Industries Limited is one of the leading manufacturers of Microcrystalline Cellulose (MCC), an excipient used in the pharmaceutical industry.  Its IPO, worth Rs 125.43 crore has received an incredible response from investors, who subscribed to the issue over 100 times. 

On the last day of the offer, the maiden release of Sigachi Industries IPO had received a soaring high 101.91 times subscription. As per NSE consolidated data, against the  53,86,500 shares on offer, Sigachi Industries Limited IPO received bids for 54,89,47,440. Before the IPO release, the company had fixed a price band of Rs 161-163 per share. Through IPO, Sigachi Industries had issued 76.95 lakh equity shares. 

Sigachi Industries IPO Shares Offered

Category Shares Offered Amount (Rs Cr) Size (%)
QIB 1,539,000 25.09 28.57
NII     1,154,250 18.81 21.43
RII 2,693,250 43.90 50.00
Total 5,386,500 87.80 100.00

Hyderabad based Sigachi Industries Limited manufactures Microcrystalline Cellulose MCC, which has various applications. Sigachi Industries manufactures 59 different grades having a range of  15- 250 microns. The company has an in-built, well-functioning R&D department. Of the three manufacturing units, one is at Hyderabad, and the other two is located in Gujarat with a total installed capacity of 13,128 MTPA at the three units.

Objectives of the IPO Listing

  • To roll out funds for the expansion of the production capacity of MCC at the manufacturing units in Dahej & Jhagadia, Gujarat.
  • To acquire funds for increasing the production of an excipient named croscarmellose sodium (CCS) at the manufacturing unit in Kurnool, Andhra Pradesh. 
  • For other general corporate purposes.

Sigachi Industries has been in the industry for 30 years and is spread across 40 countries worldwide.  Sigachi Industries has a long-standing and trustworthy market presence along with strategically located functioning units. Keenly focused on R&D, they have a well-experienced management team for their successful endeavours. Investors should invest in Sigachi Industries stock if they are considering a medium to long-term perspective. 

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