Sigachi Industries IPO – Review, Allotment, Subscription, GMP & DRHP

Let’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 ValueRs 10
Price BandRs [●]
Listing AtBSE, NSE
Min. Order QuantityNA
Listing Date NA
Offer for SaleRs lakhs
Fresh IssueRs lakhs
IPO SizeRs lakhs
Tick SizeNA

Sigachi Industries IPO is listed at [●] premium. Check out the live share price by clicking on the below link.

Sigachi Industries Share Price – Live Performance

Sigachi Industries IPO – Summary

Sigachi Industries IPO

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 has varied applications in the pharmaceutical, food, nutraceuticals and the 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. With

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 SAFFRON CAPITAL ADVISORS PRIVATE LIMITED, and the Registrar to this issue is BIGSHARE SERVICES PRIVATE LIMITED.


Sigachi Industries IPO Date

The opening and the closing date of IPO of Sigachi Industries Limited is not available yet.


Sigachi Industries Limited IPO Subscription

Day / DateQIBNIIRIITotal Subscription
1st Day – 
2nd Day –  
3rd Day – 
Shares Offered or Net Issue

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
Refunds Initiation
Credit of Shares to Demat Account
Share Listing Date

Sigachi Industries IPO Price Band / Cash Price

The face value of each share is Rs.10, but the price band of the IPO is Rs.[●] 


Sigachi Industries IPO Equity Size

This Initial Public Issue of 28,41,500 Equity Shares of Rs.10 each for cash at a price of Rs.[●] per equity share aggregating to Rs.[●] lakhs.


Sigachi Industries IPO Share Offering

Issue Size: Initial Public Offering of up to 28,41,500 Equity Shares of Rs.10 each, aggregating to Rs.[●] lakhs

Issue: The Issue Shall Constitute 27% Of The Fully Diluted Post-Issue Paid-Up Equity Share Capital Of Their Company.


Sigachi Industries IPO – Live Performance

The listing date of this IPO is NA. 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 X, the Kostak rate is Rs X and the Subject to Sauda is X. 


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 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 has varied applications in the pharmaceutical, food, nutraceuticals and the 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 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 business and evaluate the growth prospectus:

Financial Summary:

Amount (in INR & lakhs)
31-Mar-20Mar-1931-Mar-18
Total Assets10,914.399,146.257,228.82
Total Revenue14,394.9013,287.7710,378.49
Total Expense11,860.5110,814.939,418.19
Profit After Tax2,031.551,901.27692.24

Earnings per Equity Share (in lakhs)

31-Mar-20Mar-1931-Mar-18
Basic & Diluted26.4424.759.01

Their revenues from operations for the Fiscals 2020, 2019 and 2018 were Rs.13,906.26 lacs, Rs.12,898.81 lacs and Rs.10,0730.00 lacs respectively, and grew at a CAGR of 11.35% over such period.

EBITDA for the Fiscals 2020, 2019 and 2018 were Rs.5,460.20 lacs, Rs.2,985.12 lacs and Rs.1,478.60 lacs, respectively, and grew at a CAGR of 54.57% over such period.

Their profit after tax for the Fiscals 2020, 2019 and 2018 was Rs.2,031.55 lacs, Rs.1,901.27 lacs and Rs.692.24 lacs respectively, and grew at a CAGR of 43.17%. For further details, please refer to the section titled ―Financial Information‖ on page 232 of this Draft Red Herring Prospectus.


Sigachi Industries Limited IPO – Promoters

The Promoter of this company are:

  1. RABINDRA PRASAD SINHA,
  2. CHIDAMBARNATHAN SHANMUGANATHAN,
  3. AMIT RAJ SINHA 
  4. RPS PROJECTS & DEVELOPERS PRIVATE LIMITED

List of Related Parties (Key Managerial Personnel)

  • Subbarami Reddy Oruganti, Chief Financial Officer
  • Shreya Mitra, Company Secretary and Compliance Officer

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 manufacturer 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 relationship with their customers
  • 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 28,41,500 Equity Shares aggregating up to Rs.[●] lakhs
of which:
QIB PortionNot more than [●] Equity Shares
 Retail Investors Portion Not less than [●] Equity Shares
 Non-Retail Investors PortionNot less  than [●] Equity Shares
 Equity Shares outstanding prior to the Issue76,82,500 Equity Shares
 Equity Shares outstanding after the Issue1,05,24,000 Equity Shares

Sigachi Industries IPO Issue Object

Their Company proposes to utilise 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 of 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:

  • Well experienced management team with proven project management and implementation skills;
  • Pan India market presence and one of the leading excipient manufacturer 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 relationship with their customers;
  • 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; and
  • Growth led by continuous investment and focus on R&D.

The relevant quantitative factors are:

Basic & Diluted EPSRONW (%)NAV (Rs.)
31-Mar-2026.4431.46
31-Mar-1924.7542.36
31-Mar-189.0126.2884.07

Sigachi Industries IPO : Competitive Peers

They are engaged in 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 comparison is not possible.


Sigachi Industries IPO Lead Managers

Lead Managers
SAFFRON CAPITAL ADVISORS PRIVATE LIMITED
605, 6th floor, Center Point,
Andheri Kurla Road, J. B. Nagar,
Andheri (East), Mumbai – 400 059,
Maharashtra, India.
Telephone: +91 22 4082 0901/06
Facsimile: +91 22 4082 0999
E-mail: ipos@saffronadvisor.com
Website: www.saffronadvisor.com
Investor grievance: investorgrievance@saffronadvisor.com
Contact Person: Abhijit Diwan / Varsha Gandhi
SEBI Registration Number: INM000011211
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: 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 ReviewCompany ReputationCompetitive EdgeFinancial StatementPopularity IndexPromoters Reputation
Angel Broking7.5/107.4/108.5/108.1/107.1/10
Sharekhan7.2/107.1/108.6/108.1/107.2/10
Kotak Securities7.3/107.5/108.4/108.1/107.3/10
ICICI Direct7.3/107.3/108.7/108.1/107.1/10
IIFL7.5/107.2/108.8/108.0/107.1/10
Edelweiss7.5/107.4/108.4/108.3/107.2/10
Zerodha7.4/107.1/108.5/108.1/107.0/10
5Paisa7.1/107.1/108.4/108.1/107.1/10
Karvy7.4/107.3/108.2/108.1/107.1/10
Motilal Oswal7.1/107.1/108.6/108.3/107.2/10

 


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