The public issue worth 125.43 crore received rave response from the bidders as it got subscribed 101.91 times. The Sigachi Industries IPO is subscribed 101.91 times on Nov 3, 2021 5:00:00 PM. Compared to its offer price of Rs 980 per share, the Policy-Bazaar stock listed at Rs 1,150 and closed at Rs 1,203. You are now subscribed to our newsletters. The Sigachi Industries IPO comprises of a fresh issue of 76.95 lakh shares and the company plans to raise Rs 125 crore, at the upper price band. Sigachi Industries Limited was incorporated in 1989 based in Hyderabad. All eyes are set on Sigachi Industries IPO listing on Monday. Email: cs@sigachi.com Tuesday, 21 February 2023. Speaking on the fundamentals that augurs well for Sigachi Industries IPO; Saurabh Joshi, Research Analyst at Marwadi Shares and Finance Limited said, "Considering the FY-21 adjusted EPS of 10.80 on the post-issue basis, the company is going to list at a P/E of 15.10 with a market cap of 5,011 mn. Strategically located, multi-locational manufacturing facilities. They also recommended partial profit-booking and to hold the remaining shares for the long term. 4. PLAN, Access the exclusive Economic Times stories, Editorial and Expert opinion, 90 Days Prime access worth Rs999 unlocked for you, Exclusive Economic Times Stories, Editorials & Expert opinion across 20+ sectors, Stock analysis. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. CNN name, logo and all associated elements and 2023 Cable News Network LP, LLLP. For reprint rights: Continue reading with one of these options: Login to get access to some exclusive stories, Get access to exclusive stories, expert opinions &, Valid only with UPI, Credit & Debit Cards Autopay, Inciting hatred against a certain community, 15 For fresh entry, advice would be to wait for declines and not to enter fresh at the current listing gains, says Rahul Sharma, Co-Founder of Equity99. Looks like you have exceeded the limit to bookmark the image. NEW DELHI: Sigachi Industries Limited's Rs 125.42-crore initial public offer was concluded on Wednesday. The grey market starts unofficially in the unregulated market after the IPO date and price band announcements. For instance, Latent View created history with the highest-ever subscription of 326.49 times and stood at number one. The stock rallied as much as 270.40 percent to trade . But even that was not enough to create a record. HNI investors portion was subscribed 172.43 times. @LV: in sigachi it would be good if you could have bought at pre-open. So, market observers and lucky bidders are expecting bumper listing gain from the initial public offering. The price band ranges from Rs 161 to Rs 163. After listing at a premium of 253% over the offer price, Sigachi shares were locked at the upper circuit of 603.75, 270% . Ahead of Sigachi IPO listing, grey market has gone highly bullish over the issue. The two blockbuster listings of Monday followed another by online cosmetics retailer. To read full story, subscribe to ET Prime, Billed annually at The company has been faring well and paying dividends. +Includes DocuBay and TimesPrime Membership. The Indian economy grew at a slower-than-expected 4.4% in the December quarter compared with 6.3% in the preceding three-month period, weighed down by base normalisation and weakness in consumption. Please confirm Sigachi Industries IPO GMP (grey . Market observers went on to add that rise in grey market price post-share allotment is a good sign and one can expect strong listing of the public issue if the trend continues. A firework like listing for Sigachi Industries share is expected and the public issue may emanate above 100 per cent listing gains on . New Delhi: As Sigachi Industries IPO's listing date 15th November has arrived, bidders and market observers are guessing about the expected listing gain . Guys I read some where that results is on 25 November. They have their supply chain in the world with a customer base across the globe. They advised bidders to look at the financials of the company as it gives clear picture of the company's business. The markets are now gearing up for the listing of tech-driven payments solutions pioneer One97 Communications, which operates under the. Visit the Zerodha website and login to Console. Your Reason has been Reported to the admin. After a record breaking ipo debut, Found an interesting and worth reading Finshots article on What is Sigachi Industries and what does it do- https://finshots.in/markets/sigachi-industries-record-breaking-ipo-pop/. As on 22 December 2021, 15 IPOs that were launched this year are trading above 100 per cent premium. @lokes, thank you so much for your suggestion, your view was right. A flurry of IPOs, from various segments and sectors especially new-age technology-driven and emerging sectors, hit the capital markets in the year 2021. Last Updated: November 15, 2021, 08:43 IST, Sigachi Industries IPO listing on November 15. . Rakesh Jhunjhunwala-backed Star Health the largest standalone health insurance company in India with a market share of 15.8 per cent stood at the fourth position. The company is one of the leading manufacturers of MCC (Microcrystalline Cellulose) in India with a presence across diverse industry verticals and is available at reasonable valuation on an absolute basis.". The IPO consists of a fresh issue of 7.7 million shares, as against the earlier plan of 2.84 million shares. As Sigachi Industries IPO (Initial Public Offering) listing date (15th November 2021) is fast approaching, lucky bidders and market observers are busy guessing about the expected listing gain from the public issue worth Rs125.43 crore. Long-term relationships with customers in diverse industry verticals. However, considering the listing premium, short-term investors are advised to book their profits as their capital is almost 3x in 10 to 15 days. Ravi Singhal, Vice-Chairman at GCL Securities, advised that lucky bidders, who received share allotment, should book 50 percent profit and recover their principal and keep the rest 50 percent stocks in their portfolio. Copyright e-Eighteen.com Ltd All rights resderved. The share allotment will start on November 10. Existing shareholders are advised to hold the stock with a stop loss at Rs 480, while new investors are advised to wait till the stock prices cool down, he said. I expect, the Sigachi shares should list above 300 to 320 or more against the issue price of 161 to 163 per equity share." Bid/Offer Closes On: Nov 3, 2021. For reprint rights: Times Syndication Service. One97 Communications share is trading at Rs 1,342 (as on 22 December 2021), down over 37 per cent compared to the public issue price of Rs 2,150 per share. On much-awaited Sigachi Industries IPO listing, Manoj Dalmia, founder and director, Proficient Equities Limited said, "Listing price of Rs 393 (Rs 163 issue price+Rs 230 . Moneycontrol.com advises users to check with certified experts before taking any investment decisions. In fact, grey market is also reflecting about strong listing of the public issue as shares of Sigachi Industries are available at a premium of 200 in the grey market today. Wide product portfolio and ability to serve diverse end-use applications. 1 min read . They were subscribed numerous times the shares on offer. Sigachi recorded a 49 percent growth in profit at Rs 30.26 crore for the financial year FY21, compared to Rs 20.31 crore in previous year, and revenue grew by 38.6 percent to Rs 192.75 crore in the same period. Due to small issue size it is expected that the company will list in T2T segment," Doshi added. The portion for non-institutional investors was subscribed 172.43 times, those meant for Qualified Institutional Buyers (QIBs) 86.51 times and Retail Individual Investors (RIIs) 80.49 times. The funds proceed through the IPO will be used for the expansion of the production capacity for MCC at Dahej and Jhagadia in Gujarat. Log in to our website to save your bookmarks. This is a subscriber only feature Subscribe Now to get daily updates on WhatsApp. After dipping ahead of share allotment process, the public issue has regained its lost ground in the grey market. By virtue of above factors and market sentiments, listing gains of around 135 per cent or 220 could be expected that translates into a strong listing price range around 383 a piece on the listing day.". Sigachi Industries garnered Rs 125.43 crore through its public issue, the smallest among the IPOs launched in financial year FY22. According to market observers, Sigachi Industries grey market premium (GMP) today is 200, which is 20 higher from its yesterday's GMP of 180. In case you cant find any email from our side, please check the spam folder. Sigachi Industries Share Listing Gains on NSE, BSE. Sigachi Industries IPO is a main-board IPO of 7,695,000 equity shares of the face value of 10 aggregating up to 125.43 Crores. Sign in e-paper. MCC has varied applications in the pharmaceutical, food, nutraceuticals and cosmetic industries. The shares are proposed to be listed on BSE, NSE. Read on to know which IPOs ruled the roost. Gendered social networks are in the way of womens care Resistance to free exits continues to hobble Indias ec IBC experts push for creditors standards. New Delhi: As Sigachi Industries IPO's listing date 15th November has arrived, bidders and market observers are guessing about the expected listing gain from the public issue worth Rs 125.43 crore. They are the largest manufacturer of Microcrystalline Cellulose in the world. Here is the list of top five contenders with the highest listing gains on the day of their market debut. Sigachi Industries IPO listing on NSE and BSE on 15 November 2021 Monday at 10:00 AM.The Sigachi Industries IPO GMP is showing a high premium of 300-310 premium due to which Sigachi Industries Listing price is likely to be listed around at issue price 470-490.The total Sigachi Industries IPO Subscription Status subscribed 101.91x times so far, with QIB subscribed 86.51x and NII . Looks like you have exceeded the limit to bookmark the image. Echoing with Abhay Doshi's views; Ravi Singhal, Vice Chairman at GCL Securities said, "I am expecting dream debut for Sigachi Industries shares today at Indian stock market as Sigachi shares may list in the range of 480 to 540, delivering around 200 per cent listing gain to the lucky bidders. Its very less stock float. Nearly 4-fold listing gain yet Sigachi is not the best debut D-Street has seen, Terms of Use & Grievance Redressal Policy. PLAN, Yearly All the pre-open group seems to be trapped in Sigachi, so much for pre-open frenzy. The biggest IPO in terms of size in 2021 was that of Paytms parent company. A SIP calculator is a simple tool that allows individuals to get an idea of the returns on their. They said that grey market premium is an unofficial data and one should not rely on it too much. Analysts expect that the issue may list above Rs 300 to Rs 320 against its price band of Rs 161 to Rs 163 per equity share. Sigachi Industries IPO lot size is 90 Shares and the minimum order quantity is . Receive the latest and trending news alerts on the go. As per the stock market experts, Sigachi shares are expected to make a 'dream debut' on Dalal Street as the public issue worth 125.43 crore may have 'fireworks like listing.' Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile! The unlisted shares of Sigachi Industries was trading at Rs 383, 135 per cent up over the higher end of the issue price. You are just one step away from creating your watchlist! @arif: you can place your sell order but its already too late, it wont be executed for today, you should have placed at 9am exactly or even before as AMO. Commenting on the listing gains of Sigachi Industries IPO, Abhay Doshi, founder . A strong response from investors, robust financials, high premium in the grey market led to a bumper listing for Sigachi Industries IPO on Monday. Keep stop loss daily soon at opening, within seconds anyday it can turn into LC. Use of the CNN name and/or logo on or as part of NEWS18.com does not derogate from the intellectual property rights of Cable News Network in respect of them. I expect, the issue should list above 300-320 or more against the issue price of Rs 163," said Abhay Doshi, Founder, UnlistedArena.com, dealing in Pre-IPO & Unlisted Shares. The company raised Rs 18,300 crore from this IPO. Sigachi Industries IPO 101.90 times. This IPO hit the market in the month of July. Sigachi Industries shares are going to list at Indian bourses today. If I sell today, settlement will happen only on 23rd, Tuesday due to holidays in-between. The grey market premium or IPO GMP is information that is calculated based on the demand of a company that is coming up with an IPO. The demand was very high for Sigachi Industries shares as it was locked in the 5 percent upper circuit, compared to an opening price of Rs 575. Download the Mint app and read premium stories. For the unversed, GMP of a public issue is nothing but an estimated listing gain by the grey market. Over the long run, if the demand is sustained for MCC, the expansion programme of the company after theIPOwill provide earnings growth momentum. NEW DELHI: Sigachi Industries clocked an eye-popping 252 per cent listing gains on Monday. You are now subscribed to our newsletters. Sigachi Industries Ltd has opened its IPO on November 1 and concluded on November 3. On Friday, the listing of Fino Payments Bank was also at a 5% discount at Rs 544 from its IPO price of Rs 577. The latest tentative GMP of Sigachi Industries IPO is Rs 235. Sad part, Latent was not allotted 0/1 in retail. Bid/Offer Opens On: Nov 1, 2021. Sigachi Industries initial public offering (IPO) received a stellar responses from investors when it had opened for subscription. Free - Classroom Training, The Sigachi Industries IPO listing date is on. Download the Mint app and read premium stories. The company manufactures MCC of various grades ranging from 15 microns to 250 microns and the major grades of MCC manufactured and marketed by the company are branded as HiCel and AceCel. The IPO opens on Nov 1, 2021, and closes on Nov 3, 2021.. Bigshare Services Pvt Ltd is the registrar for the IPO. It'll just take a moment. Sigachi Industries IPO is subscribed 101.91 times as of 3rd November. Due to the small size of the IPO, the initial listing will be in the T group that may curtail speculative moves. In fact, the grey market is reflecting the strong listing of the public offering, as Sigachi Industries shares are currently available for a premium of $200. Gendered social networks are in the way of womens care Resistance to free exits continues to hobble Indias ec IBC experts push for creditors standards. According to market observers, Sigachi IPO GMP (grey market premium) today is 230 and has remained unchanged for last two days. Sigachi Industries IPO expected listing gain. Paytm Was The Biggest IPO by Size in 2021, But Sigachi Industries Saw Maximum Gains On Market Debut And Latent View Was Subscribed The Most. Market Observers said that after the announcement of Sigachi share allotment, Sigachi Industries IPO GMP has been standing at Rs 230, which is a good sign from an investor's perspective. Copyright 2023 Bennett, Coleman & Co. Ltd. All rights reserved. ET Now Digital. More than 60 mainboard IPOs have been launched this year and some of them have created a history either by issue size, listing gains or subscription. Read all the Latest News, Breaking News and Coronavirus News here. Manoj Dalmia, Founder and Director at Proficient Equities, expects a good demand for the stock if earnings are positive in the coming weeks. Get your daily dose of business updates on WhatsApp. The issue is reasonably priced based on its financial performance and the virtual monopolistic nature of business, it is poised for bright prospects. Robin Kaushik Oct 26 2021 05:59:29 AM Reply. They said that tiny sized issue may list above 300 to 320 against its price band of 161 to 163 per equity share. @MarketLearner : did you check with zerodha? Remove some to bookmark this image. Thanks will observe it.. Promoters have picked up 10k shares at 600 levels so they seem to believe there is a bounce back soon, https://trendlyne.com/equity/insider-trading-sast/custom/?query=S.%20Sarveswar%20Reddy. You are just one step away from creating your watchlist! The company had set its price band at Rs 161 - 163 per share. The institutional buyers' portion got bids up to 87 times and the retail investors' portion was subscribed 80.5 times. On Monday, the stock one of the leading payments banks in India closed over 5% down at Rs 516, a discount of more than 10% to the offer price. Choose your reason below and click on the Report button. Copyright HT Digital Streams Limited All rights reserved. Presently, the company manufactures 59 different grades of MCC at the manufacturing units, situated in Hyderabad and Gujarat. Sigachi Industries IPO GMP: After rave response from bidders, market observers are expecting bumper listing gain from the public issue . Your session has expired, please login again. Dont miss out on ET Prime stories! Copyright 2022 HT Digital Streams Ltd All Right Reserved, Domestic PV, two-wheeler sales rise in Feb, exports plummet, Govt approves procurement of HAL basic trainer aircraft, Cement price hikes fail to sustain, respite seen in Q1, Govt plans life support withdrawal SOPs for terminally ill, How politics is shaping stardom and cinema in India. Remove some to bookmark this image. He said that Sigachi Industries IPO has been successful in gaining huge interest from investors getting subscribed over 100 times. Gaurav Garg, Head of Research at CapitalVia Global Research, and Mohit Nigam, Head - PMS at Hem Securities, also said that investors should hold Sigachi Enterprises for the long term. Looks like you have exceeded the limit to bookmark the image. A flurry of IPOs, from various segments and sectors especially new-age technology-driven and emerging sectors, hit the capital markets in the year 2021. Listing Date: Nov 15, 2021. In terms of the best debut on Dalal Street, Sigachi Industries fell behind the spectacular first innings of Tantia Constructions, which entered the secondary markets in April 2006. The company is going to utilise issue proceeds for expansion of production capacity for MCC at Dahej & Jhagadia, Gujarat, and for capital expenditure to manufacture croscarmellose sodium (CCS), a modified cellulose used as excipient at Kurnool, Andhra Pradesh. Now Sigachi is going in LC, I did not buy when it was 600+. Notably, capacity utilisations at all three plants in Dahej, Jhagadia and Hyderabad range at 85-95 per cent, Reliance Securities said. MCC has varied applications in the pharmaceutical, food, nutraceuticals, and cosmetic industries. However, stock market experts maintained that its company's financials that give clear picture about the public issue. Check Sigachi Industries IPO allotment status online by clicking the button below. Zomato one of the leading online Food Service platforms secured the second position in terms of the issue size of Rs 9,375 crore. Sigachi Industries IPO grey market premium stood at Rs 220 on Sunday, November 14, according to the date available by the IPO watch. Oops! Sigachi Industries has raised Rs 125.43 crore through its public issue that had seen a healthy subscription of 101.91 times during November 1-3. The demand was very high for Sigachi Industries shares as it was locked in the 5 percent upper circuit, compared to an opening price of Rs 575. Experience Your Economic Times Newspaper, The Digital Way! There are no listed companies in India whose business is comparable with that of the companys business. You can apply in Sigachi Industries IPO online using either UPI or ASBA as payment method. The minimum order quantity is 90 Shares. Go to the 'Sigachi Industries IPO' row and click the 'Bid' button. PLAN. So I am assuming now based on its behavior, that 400 to 630 was fraud pricing. Exports to 41 countries along with robust two R & D infrastructure. Copyright 2023 Outlook Publishing India Pvt. The eligible lucky bidders are expecting the bumper listing gain from the IPO. Industry Trends on 4000+ Stocks, Pro Investing by Aditya Birla Sun Life Mutual Fund, Canara Robeco Equity Hybrid Fund Direct-Growth, Sigachi makes best debut in 13 years, ends with 270% gain. Recommendation-Expect strong listing gains, book profits if needed.". It was not the bigger and well-known brand names in the industry that lured investors but some of the lesser-known names and smaller IPOs saw a high degree of investor participation. brand, to list at a 17% premium to its offer price and close the day with a gain of 5% for its shareholders.