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Sigachi Industries IPO Subscribed 101.90 Times On Last Day

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Sigachi Industries' IPO had been subscribed 101.90 times on last day of biddingChemical maker Sigachi Industries' preliminary public deal (IPO) was subscribed 101.90 times on Wednesday, which was the last day of bidding.Investors bid for 54.88 crore equity shares versus the IPO size of 53.86 lakh equity shares, as retail financiers bought 80.47 times the shares reserved for them.The non-institutional investors' (NIIs) portion had been subscribed 172.43 times while certified institutional buyers (QIBs) had bid 86.1 times of their lot.Sigachi Industries aims to raise Rs 125.43 crore at the upper price band by releasing 76.9 lakh shares.The cost band for the issue, which closed on Wednesday (November 3), had been repaired at Rs 161-163 a share.The lot size stood at 90 shares.

A retail investor, who can invest approximately Rs 2 lakh, could get up to a maximum of 13 lots (1,170 shares or Rs 1,90,710).

The business makes microcrystalline cellulose (MCC), a polymer commonly utilized for ended up dosages in the pharmaceutical market.




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