The Initial Public Offer (IPO) of Sigachi Industries Limited has opened from today i.e. Monday, November 1.
Apart from Sigachi Industries, the IPOs of two more companies- Policy Bazaar (SJS Enterprises) and SJS Enterprises are also open today. Bidding for the IPO of these companies can be done till November 3.
The price band for Sigachi Industries IPO has been fixed at Rs 161-163. As per the data available on BSE, as of 11:35 am on November 1, the IPO of Sigachi Industries was subscribed 2.80 times. In this, the portion reserved for retail investors has been oversubscribed by 5.57 times.
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An analyst at Unlisted Stock Market said, “Dalal Street is busy with the entry of big startups in the stock market. On the other hand, some small size IPOs are also ready to enter with them. Sigachi Microcrystalline Cellulose (MCC) maker The company is one of the leading companies in the country.
The financial figures of the company are satisfactory and its revenue is growing at 22% year-on-year for the last 3 years. Along with the revenue of the company, its profit is also increasing.
He said, "Looking at the upper price band fixed for the IPO, the P/E is approaching 13x, which can be called reasonable.
The price band of the company's IPO is very reasonable and its IPO size is also small. I can see a lot of investor interest in this IPO and it can get a lot of oversubscriptions.
Issue Size
Hyderabad-headquartered Sigachi Industries is offering 7.7 million shares as a fresh issue through this IPO. However, earlier the company had planned to issue only 28.4 lakh shares.
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According to the upper price band of the IPO, the company can raise Rs 125 crore through this IPO.
Sigachi Industries IPO GMP
According to experts in the gray market, the shares of Sigachi were trading at a premium of around Rs 150 in the gray market on Monday. The company can be listed on both BSE and NSE on 11th November.
One Lot of 90 Shares
Retail investors can bid for the IPO of Sigachi Industries in lots of 90 shares. The minimum bid amount for one lot will be Rs 4,670. A maximum of 13 lots can be bid.