The initial stake sale of Sigachi Industries was open for subscription between November 1-3. It raised Rs 125.43 crore via the primary route, selling its shares in the range of Rs 161-163 a piece.
Merely 24 hours ahead of listing, the scrip was commanding a super solid premium of Rs 220-230 in the grey market, hinting towards a robust debut on Dalal Street.
The issue received a hefty response from investors as it was subscribed about 102 times. The quota for qualified institutional buyers was subscribed 86.5 times, whereas the quota for retail buyers was subscribed 80.5 times. HNI investors’ portion was subscribed 172.43 times.
Hyderabad-based Sigachi Industries manufactures microcrystalline cellulose (MCC), which has varied applications in the pharmaceutical, food, nutraceuticals and cosmetic industries.
