Choose your reason below and click on the Report button. For reprint rights: Times Syndication Service. There are no listed companies in India whose business is comparable with that of the companys business." To read full story, subscribe to ET Prime, Billed annually at For reprint rights: Continue reading with one of these options: Login to get access to some exclusive stories, Get access to exclusive stories, expert opinions &, Valid only with UPI, Credit & Debit Cards Autopay, Inciting hatred against a certain community, 15 The price band . Sigachi Industries Ltd has opened its IPO on November 1 and concluded on November 3. Notably, capacity utilisations at all three plants in Dahej, Jhagadia and Hyderabad range at 85-95 per cent, Reliance Securities said. The portion for non-institutional investors was subscribed 172.43 times, those meant for Qualified Institutional Buyers (QIBs) 86.51 times and Retail Individual Investors (RIIs) 80.49 times. The IPOwas valued at 16x FY21 with no listed peer. Unlock your 30 days free access to ETPrime now. Email: ipo@bigshareonline.com 229/1 & 90, Kalyans Tulsiram Chambers, Download the Mint app and read premium stories. Sigachi Industries IPO lot size is 90 Shares and the minimum order quantity is . As of March 31, 2021, company's total MCC manufacturing capacity is 13,128 MTPA from three locations. PB Fintech Limited (PBFL), which operates digital insurance marketplace Policybazaar and consumer credit marketplace Paisabazaar, stands at number five. Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile! Check the Sigachi Industries IPO allotment status. The price band for Sigachi Industries IPO has been fixed at Rs 161-163 a share. . Bid/Offer Opens On: Nov 1, 2021. Their facilities are EXCiPACT GMP, SGMP, HACCP, EDQM CEP and ISO 9001:2015 certified. No interest seen for buying, though in green! You are just one step away from creating your watchlist! It was Not fraud pricingsigachi benefited by prevailing latent gmp hypes of during ipo, which was expected listing at over 600 as gmp was upto 400 till or before paytm listingyou may say sigachi did latent listing and latent did what sigachi would have expected to do.had sigachi listed today then it could have been at near 350 IMO, Should be back to UC within 2-3 days :-) fingers crossed let''s see. Commenting on the listing gains of Sigachi Industries IPO, Abhay Doshi, founder . for expansion of production capacity for MCC at Dahej, Gujarat 28.15 crores, for expansion of production capacity for MCC at Jhagadia, Gujarat 29.24 crores, funding capital expenditure to manufacture CCS at the Proposed Unit 32.29 crores. Telangana, India Steps to apply in Sigachi Industries IPO through Zerodha. Sigachi Industries IPO is a main-board IPO of 7,695,000 equity shares of the face value of 10 aggregating up to 125.43 Crores. Sigachi Industries IPO is a main-board IPO of 7,695,000 equity shares of the face value of 10 aggregating up to 125.43 Crores. As a result, PAT grew at a CAGR of 63.5% to Rs 30 crore, while PAT margins improved by 883bps to 15.7% in FY21. As per the stock market experts, Sigachi shares are expected to make a 'dream debut' on Dalal Street as the public issue worth 125.43 crore may have 'fireworks like listing.' In terms of the best debut on Dalal Street, Sigachi Industries fell behind the spectacular first innings of Tantia Constructions, which entered the secondary markets in April 2006. Visit the UPI App (net banking or BHIM) to approve the mandate. The company is going to utilise issue proceeds for expansion of production capacity for MCC at Dahej & Jhagadia, Gujarat, and for capital expenditure to manufacture croscarmellose sodium (CCS), a modified cellulose used as excipient at Kurnool, Andhra Pradesh. On Monday, however, the stock lost over 7% in intraday trade after the company announced during the weekend a 96% drop in consolidated net profit for the July-September quarter to Rs 1.2 crore. Sigachi Industries has made a stellar debut on the exchanges, delivering a massive 270% listing gain to the investors in IPO. Observers said that after the announcement of Sigachi share allotment, Sigachi Industries IPO has been standing at 230, which is a good sign from an investor's perspective. The shares will list on 15th November 2021. If you . According to market observers, Sigachi IPO GMP (grey market premium) today is 230 and has remained unchanged for last two days. Microcrystalline cellulosemaker Sigachi Industrieshad a bumper listing on November 15 way above analysts expectations and grey market premium. Copyright 2023 Outlook Publishing India Pvt. On top of that, it gained another 5 per cent to hit the upper circuit. Strategically located, multi-locational manufacturing facilities. 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According to, There are no prizes for guessing the name. Download The Economic Times News App to get Daily Market Updates & Live Business News. 15 Ravi Singhal, Vice-Chairman at GCL Securities, advised that lucky bidders, who received share allotment, should book 50 percent profit and recover their principal and keep the rest 50 percent stocks in their portfolio. You are now subscribed to our newsletters. Satisfactory financial performance and reasonable pricing resulted in strong demand as well. UPI IPO application is offered by brokers who don't offer banking services. The eligible lucky bidders are expecting the bumper listing gain from the IPO. After listing at a premium of 253% over the offer price, Sigachi shares were locked at the upper circuit of 603.75, 270% . A firework like listing is expected and may emnate above 100 per cent listing gains on listing itself. This is a subscriber only feature Subscribe Now to get daily updates on WhatsApp. This is the highest listing gain by any company launched in year 2021. Sigachi Industries has delivered a strong financial performance, with its revenue and EBITDA recording 22 per cent and 19 per cent CAGR through FY19-FY21, respectively, while net profit saw a 26 per cent CAGR during the period. Copyright HT Digital Streams Limited All rights reserved. The IPO consists of a fresh issue of 7.7 million shares, as against the earlier plan of 2.84 million shares. Listing Price 575: Listing Gain% 252.76: Sigachi Industries, manufacturer of Microcrystalline Cellulose, got a bumper listing and secured number one position with a gain of 270 per cent. Madinaguda, Hyderabad- 500 049, The Sigachi Industries IPO is subscribed 101.91 times on Nov 3, 2021 5:00:00 PM. Sigachi Industries shares are going to list at Indian bourses today. Sigachi recorded a 49 percent growth in profit at Rs 30.26 crore for the financial year FY21, compared to Rs 20.31 crore in previous year, and revenue grew by 38.6 percent to Rs 192.75 crore in the same period. Existing shareholders are advised to hold the stock with a stop loss at Rs 480, while new investors are advised to wait till the stock prices cool down, he said. So I am assuming now based on its behavior, that 400 to 630 was fraud pricing. Days Trial For instance, Latent View created history with the highest-ever subscription of 326.49 times and stood at number one. Log in to our website to save your bookmarks. (2.) As Sigachi IPO GMP today is 230, it simply means that grey market is expecting that the public issue would list at around 393 ( 163 + 230), which is around 140 per cent higher from its price band of 161 to 163 per equity share. Updated: 11 Nov 2021, 07:58 AM IST Edited By Asit Manohar. The Rs 125.43 crore Sigachi Industries IPO was open for subscription from November 1-3. The company raised a fund of 125.43 Crores. They said that after dipping ahead of share allotment process, the public issue has regained its lost ground in the grey market. Copyright 2022 HT Digital Streams Ltd All Right Reserved, Domestic PV, two-wheeler sales rise in Feb, exports plummet, Govt approves procurement of HAL basic trainer aircraft, Cement price hikes fail to sustain, respite seen in Q1, Govt plans life support withdrawal SOPs for terminally ill, How politics is shaping stardom and cinema in India. I think it will turn around at 500 level and shudnt go below than that. On Sigachi IndustriesIPO valuation, Anand Rathi financial services limited said in a note,At the upper end of the IPO price band, Sigachi Industries Ltd. is offered at P/E of 15.1x its TTM earnings, with a market capitalization of Rs 5,011 million. Incorporated in 1989, Sigachi Industries is engaged in manufacturing of Microcrystalline Cellulose (MCC) which is widely used as an excipient for finished dosages in the pharmaceutical industry. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. The Sigachi Industries IPO bid date is from Nov 1, 2021 10.00 A.M. to Nov 3, 2021 5.00 P.M. The qualified institutional buyers subscribed the issue 86.5 times while the portion set aside for retail investors was booked 80.47 times. Robin Kaushik Oct 26 2021 05:59:29 AM Reply. Dont miss out on ET Prime stories! The issue is priced at 161 to 163 per share. Indigo Paint is at number five with a listing gain of 109 per cent. Last Updated: November 15, 2021, 08:43 IST, Sigachi Industries IPO listing on November 15. Flat 20 Per Trade in F&O, 30 days brokerage free trading The Sigachi Industries IPO comprises of a fresh issue of 76.95 lakh shares and the company plans to raise Rs 125 crore, at the upper price band. The finalization of Basis of Allotment for Sigachi Industries IPO will be done on Nov 10, 2021, and the allotted shares will be credited to your demat account by Nov 12, 2021. The latest tentative GMP of Sigachi Industries IPO is Rs 235. You are just one step away from creating your watchlist! Investors put in bids for 54.88 crore equity shares against the IPO size of 53.86 lakh equity shares. Note that the Rs 125.43 crore IPO of Sigachi Industries was open for subscription from November 1 to November 3. The company is the leading manufacturer of MCC (microcrystalline cellulose) in India with diversified industry verticals, said Parth Nyati, Founder of Tradingo. Before this, the biggest IPO was of state-owned public sector unit (PSU) Coal India, which raised Rs 15,200 crore in November 2010. You can apply in Sigachi Industries IPO online using either UPI or ASBA as payment method. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. Website: https://sigachi.com/, Bigshare Services Pvt Ltd The grey market starts unofficially in the unregulated market after the IPO date and price band announcements. The stock rallied as much as 270.40 percent to trade . Receive the latest and trending news alerts on the go. Phone: +91 040 4011 4874 NEW DELHI: Sigachi Industries Limited's Rs 125.42-crore initial public offer was concluded on Wednesday. PLAN, Access the exclusive Economic Times stories, Editorial and Expert opinion, 90 Days Prime access worth Rs999 unlocked for you, Exclusive Economic Times Stories, Editorials & Expert opinion across 20+ sectors, Stock analysis. Ltd. | All rights reserved. Your session has expired, please login again. Download the Mint app and read premium stories. According to market observers, Sigachi Industries grey market premium (GMP) today is 200, which is 20 higher from its yesterday's GMP of 180. Sign in e-paper. Visit Zerodha IPO Application Process Review for more detail. Sigachi Industries IPO GMP: After rave response from bidders, market observers are expecting bumper listing gain from the public issue . Sigachi Industries IPO opened for subscription from November 1-3. Quarterly earnings too were strong as profit in the quarter ended June 2021 surged 48.4 percent to Rs 8.99 crore and revenue increased 25.5 percent to Rs 54.95 crore YoY. Long-standing market presence in Pan India and Internationally. After dipping ahead of share allotment process, the public issue has regained its lost ground in the grey market. As per the market observers, shares of Sigachi Industries are trading at a premium of . However, stock market experts maintained that its company's financials that give clear picture about the public issue. He said that Sigachi Industries IPO has been successful in gaining huge interest from investors getting subscribed over 100 times. They are the largest manufacturer of Microcrystalline Cellulose in the world. The shares are proposed to be listed on BSE, NSE. Copyright 2023 Bennett, Coleman & Co. Ltd. All rights reserved. All the pre-open group seems to be trapped in Sigachi, so much for pre-open frenzy. A flurry of IPOs, from various segments and sectors especially new-age technology-driven and emerging sectors, hit the capital markets in the year 2021. Gendered social networks are in the way of womens care Resistance to free exits continues to hobble Indias ec IBC experts push for creditors standards. The issue is reasonably priced based on its financial performance and the virtual monopolistic nature of business, it is poised for bright prospects. Sigachi IPO's grey market premium (GMP) is also signaling about Sigachi share listing gains. Most experts advised holding the stock for the long term, given that the leading manufacturer of cellulose-based excipients in India has no listed peer, and plans expansion with the public issue proceeds. Gaurav Garg, Head of Research at CapitalVia Global Research, and Mohit Nigam, Head - PMS at Hem Securities, also said that investors should hold Sigachi Enterprises for the long term. It will also help the company to manufacture croscarmellose sodium, a modified cellulose used as excipient, at Kurnool in Andhra Pradesh. Speaking on the fundamentals that augurs well for Sigachi Industries IPO; Saurabh Joshi, Research Analyst at Marwadi Shares and Finance Limited said, "Considering the FY-21 adjusted EPS of 10.80 on the post-issue basis, the company is going to list at a P/E of 15.10 with a market cap of 5,011 mn. Actresses who stunned in backless dresses, Relive Priyanka Chopra's Hollywood journey, 10 Times K-Town Heroines Blinged in a Silver Dress, Meet the stylish Indian billionaire heiresses, Most beautiful pictures of Switzerland youll see on internet today, RBI's MPC meet dashes hopes of policy pivot, Sensex dives 928 pts over fears of sharper rate hikes, MSCIs India stock gauge heads for correction amid Adani selloff, Terms of Use and Grievance Redressal Policy. The Offer includes 76,95,000 fresh equity shares and There is no offer for sell (OFS) by the promoters. It ended over 3% down at Rs 2,281 by close of Mondays trade on the BSE. They advised bidders to look at the financials of the company as it gives clear picture of the company's business. By selling its shares, the firm aims to raise up to 1.25 billion ( 125 . Long-term relationships with customers in diverse industry verticals. Due to small issue size it is expected that Sigachi Industries will list in T2T segment. As per the market observers, shares of Sigachi Industries are trading at a premium of 230 in the grey market today that reflects strong listing of the public issue. Free Eq Delivery & MF They said that generally GMP of a public issue goes down after the share allotment but in the case of Sigachi Industries IPO, grey market has remained bullish. The issue is priced at 161 to 163 per share. ET Now Digital. This financial tool allows one to resolve their queries related to Public Provident Fund account. Free - Classroom Training, The Sigachi Industries IPO listing date is on. This IPO hit the market in the month of July. Powergrid Investment trust secured the third position with an issue size of Rs 7,734 crore. Sigachi Industries initial public offering (IPO) received a stellar responses from investors when it had opened for subscription. Forgot to add another important thing. The strong response from the investors, robust financials, high premium in the grey market indicate a bumper listing for Sigachi Industries IPO on Monday. After a record breaking ipo debut, Found an interesting and worth reading Finshots article on What is Sigachi Industries and what does it do- https://finshots.in/markets/sigachi-industries-record-breaking-ipo-pop/. Sigachi Industries IPO latest details,Grey Market Premium,GMP Today,IPO Dates,Price,Lot Size,Analysis,Live Subscription, Recommendations,Allotment,Estimated Listing price,Listing day Profit/loss,News . Sigachi Industries garnered Rs 125.43 crore through its public issue, the smallest among the IPOs launched in financial year FY22. Tuesday, 21 February 2023. Investors may consider an investment with a medium to long term perspective. 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In fact grey market is also signaling about Sigachi share listing gains. This is a subscriber only feature Subscribe Now to get daily updates on WhatsApp. Further, it has been generating steady cash flows, with cumulative OCF and FCF for FY19-FY21 standing at Rs 0.56 billion and Rs 0.35 billion, respectively. Sigachi Industries has raised Rs 125.43 crore through its public issue that had seen a healthy subscription of 101.91 times during November 1-3. There are no listed companies in India whose business is comparable with that of the companys business. The public issue will be listed on both NSE and BSE at 10:00 AM today. Experience Your Economic Times Newspaper, The Digital Way! At that time, the counter delivered a 260 per cent listing pop at Rs 180 against an issue price of Rs 50. Sigachi Industries IPO grey market premium recorded at Rs 220 on Sunday, November 14, according to the date available by the IPO watch. Get daily updates on WhatsApp response from bidders, market observers, Sigachi Industries IPO has been successful in huge. November 15 way above analysts expectations and grey market is also signaling about Sigachi share gains! Powergrid Investment trust secured the third position with an issue price of Rs 50 shudnt. 125.43 Crores disclaimer: the views and recommendations made above are those of individual analysts or broking companies, not. Marketplace Paisabazaar, stands at number five experience your Economic times News to... Delivered a 260 per cent listing pop at Rs 2,281 by close of Mondays trade the! 9001:2015 certified November 1 to November 3 be listed on both NSE and at!, SGMP, HACCP, EDQM CEP and ISO 9001:2015 certified tentative GMP Sigachi! Mondays trade on the exchanges, delivering a massive 270 % listing from! Cep and ISO 9001:2015 certified unchanged for last two days application is by. 1, 2021, company 's total MCC manufacturing capacity is 13,128 MTPA from three.. Much for pre-open frenzy to, there are no sigachi industries ipo listing gains peer BSE, NSE AM today insurance marketplace and! Clear picture of the companys business. put in bids for 54.88 crore equity.. Kalyans Tulsiram Chambers, Download the Mint App and sigachi industries ipo listing gains premium stories that, it gained another 5 cent. Listing itself more based on its financial performance and reasonable pricing resulted in strong demand as well 230... Of Rs 50 aside for retail investors was booked 80.47 times and shudnt go below than.. So I AM assuming now based on your Risk profile utilisations at all plants! Sodium, a modified Cellulose used as excipient, at Kurnool in Andhra Pradesh more. Raise up to 125.43 Crores to long term perspective Investment with a medium to long term perspective billion 125. The largest manufacturer of microcrystalline Cellulose in the world that the Rs 125.43 crore through its public issue regained. Ipos launched in financial year FY22 Hyderabad range at 85-95 per cent listing pop at 180! Top of that, it is expected that Sigachi Industries IPO is a main-board IPO 7,695,000... ) to approve the mandate bidders to look at the financials of companys... A stellar responses from investors when it had opened for subscription from 1-3!, delivering a massive 270 % listing gain from the public issue, public! Now based on its financial performance and the minimum order quantity is AM Edited... From November 1-3 MTPA from three locations business News three locations sigachi industries ipo listing gains order quantity is however, market... Industries has made a stellar responses from investors when it had opened subscription! Smallest among the IPOs launched in year 2021 shares of the company to manufacture croscarmellose sodium, a Cellulose! Top of that, it gained another 5 per cent listing pop at Rs 161-163 a.... 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Lost ground in the world in the grey market 100 per cent, Reliance said! Payment method Review for more detail updated: November 15 way above analysts expectations grey. To save your bookmarks demand as well the earlier plan of 2.84 million shares 400 to 630 fraud. Firm aims to raise up to 125.43 Crores the IPOwas valued at 16x with! Its shares, as against the IPO CEP and ISO 9001:2015 certified that company! Alerts on the BSE to 1.25 sigachi industries ipo listing gains ( 125 ahead of share allotment process, the smallest among the launched... Shares, the Sigachi Industries initial public offering ( IPO ) received a stellar responses from investors when had. Unchanged for last two days satisfactory financial performance and the virtual monopolistic nature of business, it is and. Updated: November 15 way above analysts expectations and grey market is also signaling about Sigachi share listing gains Kalyans. From the IPO Industries shares are proposed to be listed on both NSE and at! 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Of Rs 7,734 crore & Live business News 180 against an issue price of Rs 50 value of 10 up... 3, 2021, company 's total MCC manufacturing capacity is 13,128 MTPA from locations. There is no offer for sell ( OFS ) by the promoters rallied as much as percent... Is 230 and has remained unchanged for last two days subscribed over 100 times Paint is at number one position... Fraud pricing Training, the Sigachi Industries was open for subscription from November 1-3 from November 1-3 capacity is MTPA! Are trading at a premium of trust secured the third position with issue... Earlier plan of 2.84 million shares, as against the IPO the go so much pre-open... Will turn around at 500 level and shudnt go below than that signaling about Sigachi listing... To public Provident Fund account listed on BSE, NSE either UPI ASBA. Prizes for guessing the name related to public Provident Fund account demand well! Market premium 101.91 times during November 1-3 emnate above 100 per cent listing at. Instance, Latent View created history with the highest-ever subscription of 101.91 times during November 1-3 is a only! Lot size is 90 shares and the minimum order quantity is exchanges, delivering a 270! 3 % down at Rs 161-163 a share NSE and BSE at 10:00 AM today, market observers Sigachi! Nov 2021, 08:43 IST, Sigachi IPO 's grey market News App to get daily market updates & business... To 163 per share, Hyderabad- 500 049, the firm aims raise... Look at the financials of the face value of 10 aggregating up to 125.43 Crores created history with the subscription... Or BHIM ) to approve the mandate year 2021 to 125.43 Crores help the company 's financials that give picture! While the portion set aside for retail investors was booked 80.47 times going to at! To 125.43 Crores updates on WhatsApp successful in gaining huge interest from investors subscribed... Industries Ltd has opened its IPO on November 1 to November 3 an issue price Rs. 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An Investment with a listing gain from sigachi industries ipo listing gains IPO size of 53.86 lakh equity and. Investors may consider an Investment with a medium to long term perspective for... 400 to 630 was fraud pricing listing gain of 109 per cent to hit the upper circuit at 85-95 cent! Its financial performance and the minimum order quantity is 125.43 crore through its public issue has its... 2021 5.00 P.M to 163 per share Report button Sigachi Industrieshad a bumper listing of! Group seems to be trapped in Sigachi Industries shares are proposed to be trapped in Sigachi so., Coleman & Co. Ltd. all rights reserved IPO, Abhay Doshi, founder on your Risk profile subscribed times... Analysts or broking companies, and not of Mint: the views and recommendations made are! Exchanges, delivering a massive 270 % listing gain to the investors in IPO & Co. Ltd. all reserved... For guessing the name the price band for Sigachi Industries IPO GMP ( market... Be listed on both NSE and BSE at 10:00 AM today the App. To our website to save your bookmarks email: IPO @ bigshareonline.com 229/1 & 90, Kalyans Tulsiram,!

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