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Sigachi Industries IPO received bids for 54.88 crore equity shares against the IPO size of 53.86 lakh equity shares
The initial public offering (IPO) of the chemical maker Sigachi Industries has been subscribed 101.90 times on November 3, the final day of bidding.
Investors have put in bids for 54.88 crore equity shares against the IPO size of 53.86 lakh equity shares.
Retail investors had bought 80.47 times the shares set aside for them.
The portion reserved for non-institutional investors has been subscribed 172.43 times, while qualified institutional buyers (QIBs) had bid 86.51 times of their lot.
Sigachi Industries, which makes cellulose-based excipients, plans to raise Rs 125.43 crore at the upper price band by issuing 76.95 lakh shares.
Unistone Capital is the sole book-running lead manager to the issue, while Bigshare Services Private Ltd is the registrar of the public issue.
The company manufactures microcrystalline cellulose (MCC), a polymer widely used for finished dosages in the pharmaceutical industry. The company manufactures 50 grades of MCC at its manufacturing units in Hyderabad and Gujarat, under the brands HiCel and AceCel.