- The Hyderabad-based manufacturer of cellulose-based excipients,
Sigachi Industries , is looking to raise ₹125.43 crore. - Analysts believe the company’s consistency in paying a dividend continuously for the last three years bodes well.
- You can easily apply to the IPOs via mobile applications of new age investment platforms like Zerodha, Paytm, Upstox and others.
So far in the first two days of the IPO bidding process, it has already been subscribed over 22.133 times.
Shares reserved for retail investors have been oversubscribed by 37.14 times on the second day of the IPO bidding process.
Strong demand in subscription for the IPO is also because the shares of the company commanded a strong premium of ₹160 in the grey market today. The grey market premium rose to ₹160 per share on Tuesday from ₹150 earlier.
You can easily apply to the IPOs via mobile applications of new age investment platforms like Zerodha, Paytm, Upstox and others.
The company is looking to raise ₹125.43 crore through the IPO with a price band of ₹161 to ₹163 per share. It is engaged in the manufacturing of microcrystalline cellulose, the polymer that is widely used for finished dosages in the pharmaceutical industry.
“With over 30 years of continuous growth, three multi-locational manufacturing facilities and consistent focus on delivering premium quality products, the company is one of the leading manufacturers of cellulose based excipients in India, in terms of volume,” said a report by JM Financial.
Net profit of the chemical manufacturer has been increasing steadily over the past three financial years.
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