scorecardresearch
Follow Us:
Friday, October 30, 2020

Sigachi Industries files draft papers with Sebi for IPO

Sigachi Industries is engaged in manufacturing of microcrystalline cellulose (MCC) which is widely used as an excipient for finished dosages in pharmaceutical industry.

By: PTI | New Delhi | September 29, 2020 3:02:01 pm
Shares of the company are proposed to be listed on BSE and NSE. (Image source: Getty/Thinkstock)

Hyderabad-based Sigachi Industries has filed draft offer documents with markets regulator Sebi for its initial public offer to raise about Rs 60 crore.

The IPO is a fresh issuance of up to 28,41,500 shares of face value of Rs 10 each, according to the draft red herring prospectus(DRHP) filed.

The offer is expected to raise about Rs 60 crore, according to market sources.

The company is engaged in manufacturing of microcrystalline cellulose (MCC) which is widely used as an excipient for finished dosages in pharmaceutical industry.

The net proceeds of the issue are proposed to be used for expansion of production facilities for MCC at Dahej and Jhagadia in Gujarat as well as general corporate purposes, as per the DRHP.

Saffron Capital Advisors is the manager to the issue.

Shares of the company are proposed to be listed on BSE and NSE.

📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines

For all the latest Business News, download Indian Express App.

Advertisement
Advertisement
Advertisement
Advertisement