Sigachi Industries made a stellar debut on the stock market on Monday, November 15. Sigachi Industries stocks debuted at Rs 575 on BSE, 252.76 per cent premium over the higher end of the issue price of Rs 163. On NSE, Sigachi Industries share opened at Rs 570. Strong financials, pan-India presense, effective management helped Sigachi Industries to open at a record number on the bourses.
Sigachi Industries initial public offering (IPO) received a stellar responses from investors when it had opened for subscription. Sigachi Industries IPO 101.90 times. Investors put in bids for 54.88 crore equity shares against the IPO size of 53.86 lakh equity shares. The qualified institutional buyers subscribed the issue 86.5 times while the portion set aside for retail investors was booked 80.47 times. HNI investors’ portion was subscribed 172.43 times.
Started in 1989, Sigachi Industries manufactures 59 different grades of Microcrystalline Cellulose (MCC). Spread over Hyderabad and Gujarat, the company is one of the leading manufactures in India with an aggregate installed capacity of 11,880 MTPY.With over 30 years of continuous growth, three multi-locational manufacturing facilities and consistent focus on delivering premium quality product.
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