Sigachi Industries IPO – Review, Allotment, Subscription, GMP & DRHP
Last Updated Date: Nov 19, 2022Let’s have a detailed review of the company and analytics of the Sigachi Industries IPO release date, IPO offer price, subscription, Sigachi Industries Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs 10 |
| Cash Price | Rs 161 to Rs 163 |
| Listing At | BSE, NSE |
| Min. Order Quantity | 90 Shares |
| Listing Date | Nov 15, 2021 |
| Offer for Sale | Rs lakhs |
| Fresh Issue | Rs lakhs |
| IPO Size | Rs 12,543 lakhs |
| Tick Size | 1 |
Sigachi Industries IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.
Sigachi Industries IPO – Summary
They are engaged in manufacturing microcrystalline cellulose (MCC) which is widely used as an excipient for finished dosages in the pharmaceutical industry.
The inert non-reactive, free-flowing and versatile nature of MCC have varied applications in the pharmaceutical, food, nutraceuticals, and cosmetic industries.
In the year 2000, with an aim to diversify their business activities, their Company started manufacturing premium grade microcrystalline cellulose by successfully commissioning a spray drier and a multi-fuel furnace, which in turn also increased their manufacturing capacity from 720 metric tonnes per annum to 1080 metric tonnes per annum.
Presently, they manufacture 50 different grades of MCC at their manufacturing units, situated at Hyderabad and Gujarat with an aggregate installed capacity of 11,880 MTPY.
The Promoters of this company are RABINDRA PRASAD SINHA, CHIDAMBARNATHAN SHANMUGANATHAN, AMIT RAJ SINHA, AND RPS PROJECTS & DEVELOPERS PRIVATE LIMITED. The lead manager to the issue is UNISTONE CAPITAL PRIVATE LIMITED, and the Registrar to this issue is BIGSHARE SERVICES PRIVATE LIMITED.
Sigachi Industries IPO Date
The opening and the closing date of the IPO of Sigachi Industries Limited are Nov 1, 2021, and Nov 3, 2021, respectively.
Sigachi Industries Limited IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – 1st Nov | 0.57x | 4.44x | 16.81x | 9.52x |
| 2nd Day – 2nd Nov | 0.82x | 16.99x | 38.49x | 23.12x |
| 3rd Day – 3rd Nov | 86.51x | 172.43x | 80.42x | 101.88x |
| Shares Offered or Net Issue | 1,539,000 | 1,154,250 | 2,693,250 | 5,386,500 |
The shares subscribed by the public will be updated here.
Sigachi Industries IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.
Sigachi Industries IPO Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | Nov 10, 2021 |
| Refunds Initiation | Nov 11, 2021 |
| Credit of Shares to Demat Account | Nov 12, 2021 |
| Share Listing Date | Nov 15, 2021 |
Sigachi Industries IPO Cash Price
The face value of each share is Rs.10, but the price band of the IPO is Rs 161 to Rs 163
Sigachi Industries IPO Equity Size
This Initial Public Issue of 76,95,000 Equity Shares of Rs.10 each for cash at a price of Rs 161 to Rs 163 per equity share aggregating to Rs.12,543 lakhs.
Sigachi Industries IPO Share Offering
Issue Size: Initial Public Offering of up to 76,95,000 Equity Shares of Rs.10 each, aggregating to Rs.12,543 lakhs
Issue: The Issue Shall Constitute 27% of The Fully Diluted Post-Issue Paid-Up Equity Share Capital Of Their Company.
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Sigachi Industries IPO – Live Performance
The listing date of this IPO is Nov 15, 2021. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – Sigachi Industries Share Price |
Sigachi Industries IPO Grey Market Premium
The Sigachi Industries Limited IPO Grey Market Premium price is Rs 200, the Kostak rate is Rs 0 and the Subject to Sauda is Rs 0.
Sigachi Industries IPO – Company Overview
Their Company was incorporated as a private limited company in 1989, with the business to manufacture chlorinated paraffin and hydrochloric acid in their manufacturing unit situated at Hyderabad. In the year 1990, their Company diversified its product portfolio to manufacture microcrystalline cellulose (MCC).
They manufacture MCC of various grades ranging from 15 microns to 250 microns. The major grades of MCC manufactured and marketed by their Company are branded as HiCel and AceCel. These products are distinguished with the help of different drying techniques employed by their Company during the manufacturing process.
HiCel is a spray-dried product and is considered superior in quality due to the physical properties of the product such as particle size, density, flow, tableting properties, etc. AceCel on the other hand is manufactured through the bulk drying process.
They also manufacture various grades of this product in combination with various chemicals likes colloidal silicon dioxide, carboxy cellulose sodium, mannitol, etc. to cater to the growing market of the co-processed excipients.
Sigachi Industries IPO Company Products
They are engaged in manufacturing microcrystalline cellulose (―MCC‖) which is widely used as an excipient for finished dosages in the pharmaceutical industry. The inert non-reactive, free flowing, and versatile nature of MCC have varied applications in the pharmaceutical, food, nutraceuticals, and cosmetic industries.
They manufacture MCC of various grades ranging from 15 microns to 250 microns. The major grades of MCC manufactured and marketed by their Company are branded as HiCel and AceCel. These products are distinguished with the help of different drying techniques employed by their Company during the manufacturing process.
HiCel is a spray-dried product and is considered superior in quality due to the physical properties of the product such as particle size, density, flow, tableting properties, etc.
AceCel on the other hand is manufactured through the bulk drying process. They also manufacture various grades of this product in combination with various chemicals likes colloidal silicon dioxide, carboxy cellulose sodium, mannitol, etc. to cater to the growing market of the co-processed excipients.
Sigachi Industries IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & lakhs) | |||
| 31-Mar-21 | Mar-20 | 31-Mar-19 | |
| Total Assets | 13,340.73 | 10,914.39 | 9,146.25 |
| Total Revenue | 19,601.05 | 14,394.90 | 13,287.77 |
| Total Expense | 15,752.68 | 11,860.51 | 10,814.93 |
| Profit After Tax | 3,026.03 | 2,031.55 | 1,901.27 |
Earnings per Equity Share (in lakhs)
| 31-Mar-21 | Mar-20 | 31-Mar-19 | |
| Basic & Diluted | 13.13 | 26.44 | 24.75 |
Further, their PAT for the period ended on March 31, 2021, March 31, 2020, and March 31, 2019, were Rs. 3,026.03 Lakh, Rs. 2,031.55 Lakh, and Rs. 1,901.27 Lakh respectively.
Sigachi Industries Limited IPO – Promoters
The Promoter of this company are:
- RABINDRA PRASAD SINHA,
- CHIDAMBARNATHAN SHANMUGANATHAN,
- AMIT RAJ SINHA
- RPS PROJECTS & DEVELOPERS PRIVATE LIMITED
List of Related Parties (Key Managerial Personnel)
- Swami Das Nigam, Chairman, and Non-Executive Director
- Rabindra Prasad Sinha, Whole-time Director
- Chidambarnathan Shanmuganathan, Whole-time Director
- Amit Raj Sinha, Managing Director, and Chief Executive Officer
- Vijaykumar Amrutlal Bhavsar, Whole-time Director
- Kanika Singal, Independent Director
Competitive Strengths of Sigachi Industries Limited
- Well experienced management team with proven project management and implementation skills
- Pan India market presence and one of the leading excipient manufacturers among the market leaders of cellulose-based excipients in India
- One of the leading manufacturers of cellulose-based excipient industry in India with over 30 years‟ experience and multiple applications across industries
- Presence across diverse industry verticals with long-standing relationships with their customers
- A comprehensive product portfolio enables them to serve diverse end-use applications
- Strategically located manufacturing facilities with a core focus on quality
- Quality Assurance and Quality Control of their products
- Growth led by continuous investment and focus on R&D
Sigachi Industries Limited IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to 76,95,000 Equity Shares aggregating up to Rs.12,543 lakhs |
| of which: | |
| QIB Portion | Not more than [●] Equity Shares |
| Retail Investors Portion | Not less than [●] Equity Shares |
| Non-Retail Investors Portion | Not less than [●] Equity Shares |
| Equity Shares outstanding prior to the Issue | 2,30,47,500 Equity Shares |
| Equity Shares outstanding after the Issue | X Equity Shares |
Sigachi Industries IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
1. Expansion of production facilities for microcrystalline cellulose (MCC) at Dahej, Gujarat;
2. Expansion of production facilities for microcrystalline cellulose (MCC) at Jhagadia, Gujarat;
3. General Corporate Purposes
Business strategies of Sigachi Industries Limited
- Increasing their manufacturing capacity to focus on the growing demand for their core products
- Increasing their focus on their core business segment
- Diversifying and increasing penetration in markets
- Increasing their Global presence
- Strengthen their marketing network
Sigachi Industries Limited IPO – Basis of the Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- One of the leading manufacturers of cellulose-based excipient industry in India with over 30 years of experience.
- Pan India and International market presence
- Well experienced management team with proven project management and implementation skills.
- A comprehensive product portfolio enables us to serve diverse end-use applications
- Presence across diverse industry verticals with long-standing relationships with our customers.
- Growth led by continuous investment and focus on R&D
- Quality Assurance and Quality Control of our products.
- Strategically located manufacturing facilities
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-21 | 13.13 | 32.12 | 40.87 |
| 31-Mar-20 | 8.81 | 31.46 | 28.02 |
| Mar-19 | 8.25 | 42.36 | – |
Sigachi Industries IPO: Competitive Peers
They are engaged in the manufacturing of microcrystalline cellulose (―MCC‖) which is widely used as an excipient for finished dosages in the pharmaceutical industry. They believe there are no listed entities similar to their line of business and comparable to their scale of operations, hence the comparison is not possible.
Sigachi Industries IPO Lead Managers
| Lead Managers |
| UNISTONE CAPITAL PRIVATE LIMITED 305, A Wing, Dynasty Business Park, Andheri Kurla Road, Andheri East, Mumbai- 400059. Telephone: +91 9820057533 Email: mb@unistonecapital.com Website: www.unistonecapital.com Investor grievance email: compliance@unistonecapital.com ContactPerson: Mr. Brijesh Parekh SEBI registration number: INM000012449 Validity of Registration: Permanent |
Sigachi Industries IPO Registrar to offer
| Registrar to the Offer |
| BIGSHARE SERVICES PRIVATE LIMITED 1st floor, Bharat Tin Works Building, Opp. Vasant Oasis, Makwana Road, Marol, Andheri (East), Mumbai- 400 059, Maharashtra, India. Telephone: +91 22 6263 8200 Facsimile: +91 22 6263 8299 E-mail:ipo@bigshareonline.com Website:www.bigshareonline.com Investor grievance:investor@bigshareonline.com Contact person: Mr. Ashish Bhope SEBI Registration No: INR000001385 Validity of Registration: Permanent |
Sigachi Industries IPO – Other Details
- Statutory Auditor – M/s. T Adinarayana & Co.
- Legal Counsel to the Company – M/s. Crawford Bayley & Co.
- Bankers to the Company – Kotak Mahindra Bank Limited
Sigachi Industries Limited IPO Review by Top 10 Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
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Sigachi Industries IPO Review FAQs
What is the Issue Size of Sigachi Industries IPO?
The Company is making an initial public offer of 76,95,000 equity shares. We vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of Sigachi Industries IPO?
The price band for this particular IPO ranges between Rs 161 to Rs 163. As far as the face value of the share is of concern, it is Rs.10 per share.
What is the Sigachi Industries IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on Nov 1, 2021, while the closing date is set at Nov 3, 2021.
What is the Sigachi Industries IPO Allotment Date?
We also have the news regarding the respective allotment dates of this IPO. Basis of Allotment finalization is on Nov 10, 2021, refund initiation is on Nov 11, 2021, credit of shares is on Nov 12, 2021, and share listing date is on Nov 15, 2021.
What is the Sigachi Industries IPO Listing Date?
Shares of this company shall be listed in the exchanges on Nov 15, 2021. The date, when the listing would be done, is stagnant on Nov 15, 2021.
Who is the Registrar of Sigachi Industries IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. Bigshare Services Private Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Sigachi Industries IPO?
Here are the promoters of this IPO – RABINDRA PRASAD SINHA, CHIDAMBARNATHAN SHANMUGANATHAN, AMIT RAJ SINHA, AND RPS PROJECTS & DEVELOPERS PRIVATE LIMITED. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Sigachi Industries IPO?
We have obtained the GMP of this IPO and it is Rs 200. Further insights of Kostak rate and subject to sauda or SS are as well included in this report.
Is Sigachi Industries IPO good for Investment?
We have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Sigachi Industries Company?
We have the information of company financials, and according to that, we have the figures from the last few years to provide. PAT for the financial year 2021 in Lakhs is 3,026.03, 2020 is 2,031.55, 2019 is 1,901.27.
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