Financial Insights

Sigachi Industries IPO subscribed 67.94 times on the final day, the retail portion booked 72.05 times

The company Sigachi Industries who manufacture the cellulose-based excipients, planned to raise INR 125.43 crore by issuing 76.95 lakh shares at the upper price band.

The chemical-maker Sigachi Industries IPO been subscribed 67.94 times on the final day of bidding, 3rd November’21.

Investors have put in bids for 36.59 crore equity shares against the IPO size of 53.86 lakh equity shares.

Retail investors bought 72.05 times the shares set aside for them.

The portion reserved for non-institutional investors has been subscribed 110.87 times, while Qualified Institutional Buyers (QIBs) had bid 28.55 times of their lot.

The company’s operating profit margin stood at 20.13 percent in fiscal year 2021 against 17.8 percent in fiscal year 2020 with growth of about 233 bps. The net profit margin declined by over 300 bps to 15.4 percent in FY21.

Promoters Rabindra Prasad Sinha, Chidambarnathan Shanmuganathan, Amit Raj Sinha and RPS Projects & Developers hold a 53.32 percent stake whereas the shareholding of promoter and promoter group is at 64.64 percent.

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