Sigachi Industries IPO subscribed 9.52 times

The initial public offer of microcrystalline cellulose manufacturer Sigachi Industries received 9.52 times subscription on Monday, the first day of the issue. Price range for the Rs 125.42-crore offer is at Rs 161-163 per share. The initial public offer is of up to 76,95,000 equity shares.

The initial public offer of microcrystalline cellulose manufacturer Sigachi Industries received 9.52 times subscription on Monday, the first day of the issue. It received bids for 5,12,75,610 shares against 53,86,500 shares on offer, according to NSE data. Qualified institutional buyers (QIBs) category received 57 per cent subscription, while that of non institutional investors 4.44 times and retail individual investors (RIIs) 16.81 times. Price range for the Rs 125.42-crore offer is at Rs 161-163 per share. The initial public offer is of up to 76,95,000 equity shares. Unistone Capital Private Limited is the manager to the offer. Sigachi is a leader player in the field of pharma excipients, nutra and food ingredients.

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