Sigachi Industries IPO
Sigachi Industries IPO — date, price band, lot size & details 2021
Sigachi Industries listed on 15 Nov 2021 at ₹570, 249.7% above the ₹163 issue price.
Sigachi Industries makes microcrystalline cellulose, an excipient used in medicines, food, nutraceuticals and cosmetics. Its total income was Rs 196.01 crore in FY2021.
Stock price
Sigachi Industries is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 01 Nov 2021
- Close 03 Nov 2021
- Allotment 10 Nov 2021
- Refund/credit 11 Nov 2021
- Listing 15 Nov 2021
Issue summary
The terms of the offer, as filed.
| IPO Dates | 1 to 3 Nov, 2021 |
|---|---|
| Price Band | ₹161 – ₹163 |
| Face Value | ₹10 |
| Lot Size | 90 Shares |
| Issue Size | ₹125.43 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE, NSE |
| Registrar | Bigshare Services Private Limited |
| Min Investment | ₹ 14,670 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 90 shares at the ₹163 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 90 | ₹14,670 |
| Retail (max) | 13 | 1,170 | ₹1,90,710 |
| S-HNI (min) | 14 | 1,260 | ₹2,05,380 |
| S-HNI (max) | 68 | 6,120 | ₹9,97,560 |
| B-HNI (min) | 69 | 6,210 | ₹10,12,230 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 132.88 crore in FY2019 to Rs 196.01 crore in FY2021.
- 02Profit after tax rose from Rs 19.01 crore in FY2019 to Rs 30.26 crore in FY2021.
- 03The whole Rs 125.43 crore issue was fresh capital for capacity expansion.
- 04The pre-issue P/E was 12.41 at the upper band of Rs 163, based on EPS of Rs 13.13.
- 05It makes 59 grades of MCC and has exported since 1996.
Risks · 5
- 01The business depends on one product family, MCC, with total capacity of 13,128 MTPA.
- 02Profit was Rs 8.99 crore in the three months to 30 June 2021, on total income of Rs 55.12 crore.
- 03Total borrowing was Rs 25.59 crore on 30 June 2021, up from Rs 20.93 crore on 31 March 2021.
- 04A large part of the proceeds goes to new capacity, including Rs 32.30 crore for a new CCS unit that was not yet built.
- 05Promoters and the promoter group held 64.64% before the issue and 48.46% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Sigachi Industries offer document.
| Metric | 30 Jun 2021 | 31 Mar 2021 | 31 Mar 2020 | 31 Mar 2019 |
|---|---|---|---|---|
| Assets | 151.42 | 133.41 | 109.14 | 91.46 |
| Total Income | 55.12 | 196.01 | 143.95 | 132.88 |
| Profit After Tax | 8.99 | 30.26 | 20.32 | 19.01 |
| EBITDA | 12.38 | 42.04 | 29.65 | 29.85 |
| NET Worth | 103.24 | 94.20 | 64.59 | 44.88 |
| Reserves and Surplus | 95.56 | 86.52 | 56.90 | 41.81 |
| Total Borrowing | 25.59 | 20.93 | 30.38 | 25.19 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Sigachi Industries RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Sigachi Industries IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹13.13 | ₹11.70 |
| P/E Ratio (x) | 12.41 | 13.93 |
| Market Cap at Offer Price (₹ Cr) | ₹111.60 | ₹125.25 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹163 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹110.13 Cr of the issue is earmarked to named objects.
About the company
MCC is used as an excipient in finished medicines and also in food, nutraceuticals and cosmetics. The company makes 59 grades of MCC, from 15 microns to 250 microns, sold mainly under the HiCel and AceCel brands. It began exporting in 1996.
It has 3 manufacturing units, at Hyderabad and at Jhagadia and Dahej in Gujarat, with total MCC capacity of 13,128 MTPA on 31 March 2021.
The IPO was Rs 125.43 crore and was entirely fresh issue. The money was planned for expanding MCC capacity at Dahej and Jhagadia and for a new unit to make CCS.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Sigachi Industries IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Unistone Capital
17 issues handled (15 mainboard, 2 SME)Best listing: BLS E-Services (+125.9%). Weakest: Fabtech Technologies (0.0%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Sigachi Industries?
The current Grey Market Premium is ₹230, or 141% over the issue price.
What is the Sigachi Industries IPO price band?
₹161 to ₹163, on a face value of ₹10.
When is the allotment?
The basis of allotment is 10 November 2021, with listing on 15 November 2021.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — Bigshare Services Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
