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Sigachi Industries IPO opens for subscription today: Here are the key things to know

Sigachi Industries IPO opens for subscription today: Here are the key things to know

By CNBCTV18.com Nov 1, 2021 12:37:16 PM IST (Updated)

The initial public offering (IPO) of Sigachi Industries has opened for subscription today. The price band for the issue has been fixed at Rs 161-163 a share. The Sigachi Industries IPO hits the market with two other public offers from Policybazaar and SJS Enterprises.

The initial public offering (IPO) of Sigachi Industries has opened for subscription today. The price band for the issue has been fixed at Rs 161-163 a share. The Sigachi Industries IPO hits the market with two other public offers from Policybazaar and SJS Enterprises.

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Here are the key things to know before investing in the Sigachi IPO:
IPO dates
The offer will open for subscription on November 1 and close on November 3.
Offer details
The company plans to raise up to Rs 125.43 crore from the issue at the upper price band by issuing 76.95 lakh shares.
Lot size and category-wise reserved portion
The IPO market lot size is 90 shares. A retail investor, who can invest up to Rs 2 lakh, can apply for up to a maximum of 13 lots (1,170 shares or Rs 1,90,710).
Book running lead managers
Unistone Capital is the sole book-running lead manager to the issue.
Registrar
Bigshare Services Private Ltd. is the registrar of the public issue.
Objective of the issue
Sigachi Industries aims to utilise issue proceeds for expansion of production facilities for microcrystalline cellulose (MCC) at Dahej and Jhagadia, Gujarat.
Allotment date
The allotment of the issue is likely to take place on November 10.
About the company
Sigachi Industries Ltd, incorporated as a private limited company in 1989, manufactures 59 different grades of microcrystalline cellulose (MCC) at its manufacturing units and is situated at Hyderabad and Gujarat with an aggregate installed capacity of 11,880 MTPY.
Valuation
At the upper end of IPO price band, Sigachi Industries is offered at P/E of 15.1x its TTM earnings, with a market capitalisation of Rs 5,011 million.
Promoters
Promoters Rabindra Prasad Sinha, Chidambarnathan Shanmuganathan, Amit Raj Sinha and RPS Projects & Developers hold 53.32 percent stake in the company.
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