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Founded in 1989, Sigachi Industries specializes in the manufacture of microcrystalline cellulose (MCC), which is widely used in the pharmaceutical industry as an adjunct to final effects. MCC has a wide range of applications in the pharmaceutical, food, nutraceutical, and cosmetic industries.
The company manufactures MCCs in various sizes ranging from 15 microns to 250 microns and most models of MCC are manufactured and sold by HiCel and AceCel companies. Currently, the company operates 59 different MCC brands in its manufacturing units in Hyderabad and Gujarat. The company has an in-house R&D office equipped with the tools to perform all the necessary experiments to create new molecules from concept to production.
The company has obtained various certifications and operates 3 manufacturing units namely Unit 1 in Hyderabad, 2 Manufacturing Units, Unit 2, and Unit 3 which are located in Jhagdia and Dahej in Gujarat. As of March 31, 2021, the company’s total MCC production capacity from three locations is 13,128 million tons per year.
Sigachi Industries IPO Details
|IPO Opening Date||Nov 1, 2021|
|IPO Closing Date||Nov 3, 2021|
|Issue Type||Book Built Issue IPO|
|Face Value||₹10 per equity share|
|IPO Price||₹161 to ₹163 per equity share|
|Market Lot||90 Shares|
|Min Order Quantity||90 Shares|
|Listing At||BSE, NSE|
|Issue Size||7,695,000 Eq Shares of ₹10|
(aggregating up to ₹125.43 Cr)
Sigachi Industries IPO Details
The IPO has a new issue of 76.95 million shares. In addition, the Hyderabad-based company plans to raise Rs 125 crore at a higher cost. For the store sponsor, gifts are invited for one piece with a minimum of 90 pieces and a maximum of 13 deals. This underwriting is a very new problem. That is, there is no offer for sale or OFS in the IPO of Sigachi Industries.
Unistone Capital is the only bookkeeper to take care of this issue. On the other hand, the author is Share Services Pvt. Ltd. Public donations will be distributed on November 10 and healing will begin on November 11.
Sigachi Industries IPO Status
Investors had earlier placed orders to buy 1.52 crore shares against the IPO volume of 53.86 crore shares on Monday. So far, bookmakers have registered 5.65 times more than their allotted shares. For non-institutional publishers, the issuance rate was 7% higher, although eligible school clients did not submit their applications at the time of writing.
Issue Objectives of Sigachi Industries IPO
Sigachi Industries, founded in 1989, intends to use the proceeds from the IPO to expand its manufacturing facilities. The funds will be used to increase activities in the Dahej and Jhagdia districts of Gujarat. Proceeds will be used to build CCS in the Cornwall area. The company also plans to use it for traditional business purposes.
Sigachi Industries IPO GMP
Shares of Sagachi Industries are trading at Rs 150 in the gray market on Monday, November 1. Shares of Sagachi Industries are trading at Rs 313 per share in the gray market, which is about 92% due to the high impact of inflation. Rate on Monday. The high GMP score showed a strong record for shares of Segachi Industries on the NSE and BSE later this month.
Sigachi Industries Ltd, established in 1989, manufactures 59 different brands of Microcrystalline Cellulose (MCC) at its two manufacturing facilities in Hyderabad and Gujarat. The company is one of the largest MCC producers in India with a total of 11,880 Mtpa. MCC markings range from 15 microns to 250 microns. MCC is used to make pharmaceutical and food products.
What is the bid price of Sigachi IPO?
An initial public offering (IPO) for cellulose products maker Sigachi Industries opened for registration earlier today. At the end of the first day of bidding on Monday, so far 9.52 bids have been registered.
Figures from the National Stock Exchange (NSE) show that a total of 5,12,75,610 shares were sold on its two exchanges, of which 53,86,500 shares were issued.
Sigachi Industries ’IPO will be available for registration till Wednesday, November 3, 2021, at a cost of Rs 125.43 crore and the price of the Micro Crystal Line Cellulose (MCC) plant has been fixed at Rs 161-163 per unit.
Why invest in Sigachi Industries IPO?
- The compound is one of the largest manufacturers of microcrystalline cellulose (MCC) which is widely used as an auxiliary for end products in the pharmaceutical industry.
- A company with a wide portfolio that can offer a variety of end-user applications. PAN has a long-term presence in the Indian market. The company places great emphasis on research and development with quality certification and quality control over products and supplies.
- The company has grown strongly in the last 3 years. Its revenue increased from Rs 132.8 crore in FY19 to Rs 196 crore in FY21.
- The company has set a limit on assets. The limits are increasing every year. It earned revenue of Rs. 19 crore (14.3%) for the financial year 2019 as against Rs. 30.2 crore (15.4%). Its margin of Rs 8.99 crore (16.3%) for the first quarter of FY2022 indicates that the company is a solid player.
How do I apply Sigachi IPO?
You can apply for a Segachi Industries IPO using the UPI-supported application by following two steps:
- Enter your bid on Console
- Accept UPI mandate on your phone
Once approved, the amount in your treasury will be withheld. Click here to learn more.
Is it necessary for you to Subscribe to Sigachi Industries?
The Financial Intelligence and Investors Group awarded Anand Rathi the IPO of Sigachi Industries IPO with a “Subscription” number.
“On the high impact of the stock market, Sigachi Industries Ltd. was given 15.1 times P / E of its TTM revenue, with a market capitalization of Rs 5,011 million, as the company is one of the largest microcrystalline cellulose manufacturers.
With over 30 years of experience in India, Pan Indian Residential and Global Markets, investments of expert management, and future leadership team in FY21 with a high RoNW of 32.12% and reasonable price. We number this IPO. ” “Subscribe,” the company said in a letter.
Marwari Shares and Finance Limited offers a similar view. Based on the issue, considering the adjusted revenue of Rs 10.80 for the 21st Fiscal Year, the company will be listed at a P / E of 15.10 with a market capitalization of Rs 5.011 million.
Rating because this business is one of the largest producers of MCC (Cellulose Based Expansion) in India and gets reasonable price with the acquisition of various business units and on an independent source, ”the company said.
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