Sigachi-Industries-IPO

Today is the first day of Sigachi Industries initial public offering (IPO)

Sigachi Industries IPO: The subscription period for Sigachi Industries Ltd’s initial public offering (IPO) began on Monday, November 1 and will end on November 3, along with two other offerings of Policybazaar and SJS Enterprises. For its three-day share sale, the business has established a price range of 161-163 per share.

According to BSE statistics, the retail component of the IPO had been subscribed 5.57 times as of 11:35 a.m., while the whole issue had been subscribed 2.80 times.

“At the same time that the D-Street is witnessing some massive startup IPOs, the little IPO is gearing up for its debut. Sigachi is one of the most well-known MCC manufacturers. Revenues have grown at a CAGR of 22% over the previous three years, which appears to be sufficient. There has been good top and bottom line growth. The demanding P/E of nearly 13x appears fair in the issue’s top range. According to Abhay Doshi, creator of UnlistedArena.com, “reasonable cost and small issue size should assure enormous interest, which would lead to substantial subscription.”

Also Read: Nykaa IPO GMP, Reviews, Data, Valuation, Grey Market, Price, Lot Size and more details

The Hyderabad-based maker of cellulose-based excipients’ initial public offering (IPO) comprises of a new issue of 7.70 million shares, up from a scheduled issue of up to 2.84 million shares. The company would raise up to 125 crore through its share sale if it sells at the top end of the pricing range.

Sigachi Stocks GMP

According to market watchers, Sigachi shares are currently available in the grey market for a premium (GMP) of 150. On November 11th, the company plans to go public on the BSE and NSE, two of the world’s most prestigious stock markets.

Microcrystalline Cellulose (MCC), which is commonly used as an excipient for completed doses in the pharmaceutical sector and has a variety of uses in the food, nutraceuticals, and cosmetic industries, is manufactured by the Hyderabad-based company.

It operates out of three production facilities in Gujarat, one each in Hyderabad, Jhagadia, and Dahej.

The funds from the offering would be utilised to expand MCC’s manufacturing facilities in Gujarat, specifically in Dahej and Jhagadia. The development would increase the capacity of the Dahej and Jhagadia facilities by 3,600 MTPA, bringing them to 7,890 and 5,760 MTPA, respectively.