All that you should know about the Company before applying for the IPO.
The public issue of equity shares of Sigachi Industries Limited will open for subscription on November 01, 2021 and closes on November 03, 2021 It is expected to list on the stock exchanges on November 15, 2021 What does the company do? Why is the company going public? Who are its key competitors? Its key strengths, and lot more. Here’s everything that you want to know about the company to analyse the IPO.
Incorporated in 1989, the Company is one of the leading manufacturers of MCC (cellulose based excipients) in India. MCC (Microcrystalline Cellulose) has varied applications in the pharmaceutical, food, nutraceuticals and the cosmetic industries. It is widely used as an excipient for finished dosages in the pharmaceutical industry. The Company manufactures 59 different grades of MCC. The major grades of MCC that it manufactures and markets are branded as HiCel and AceCel.
It has also entered into operations and management agreements with Gujarat Alkalies and Chemicals Limited (GACL) for operating and managing the manufacturing units owned by GACL and for contract manufacturing of sodium chlorate, stable bleaching powder and poly aluminum chloride in the said units.
The Company export its products to 41 countries including Australia, USA, South America, U.K., Poland, Italy, Denmark, China, among others. Its exports business account for about 73% of its total sales (in FY 21). The Company operates 3 manufacturing units – one unit situated at Hyderabad and other two are situated in Gujarat (at Jhagadia and Dahej).
Rabindra Prasad Sinha, Chidambarnathan Shanmuganathan, Amit Raj Sinha and RPS Projects & Developers Private Limited
Some of the key strengths of the Company are listed below.
There are no listed peers in India
Given below are the objectives of the Company –
The Company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects –
The Offer is a 100% Fresh issue.
|IPO Size||₹ 125.43 Crore*|
|Offer Mix||100% Fresh Issue|
|Price Band||₹ 161 - ₹ 163|
|Lot Size||90 Shares (& in multiples thereof)|
|Face Value||₹ 10|
|Application Amount||Min. ₹ 14,670 (1 lot) | Max. ₹ 1,90,710 (13 lots) [at upper price band]|
|Listing on||NSE & BSE|
|Registrar||Bigshare Services Private Limited|
|Cut-off time for UPI Mandate Confirmation||08-Nov-2021 (up to 12:00 PM)|
|QIB||₹ 62.72 Crore (50% of the Issue Size)|
|NIB||₹ 18.81 Crore (15% of the Issue Size)|
|Retail||₹ 43.90 Crore (35% of the Issue Size)|
|IPO Opens||November 01, 2021|
|IPO Closes||November 03, 2021|
|Finalization of the basis of allotment||November 10, 2021|
|Unblocking of funds / Initiation of refunds||November 11, 2021|
|Credit of equity shares to Demat accounts||November 12, 2021|
|Listing of equity shares||November 15, 2021|
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