IPOs opening on November 1: SJS Enterprises and chemical maker Sigachi industries

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IPOs opening on November 1: SJS Enterprises and chemical maker Sigachi industries
BCCL
  • IPOs of SJS Enterprises and Sigachi Industries will open on November 1 and close on November 3.
  • Sigachi Industries has set a price band of ₹161-163 per share and SJS Enterprises fixed a price band of ₹531-542 apiece.
  • Chemical maker Sigachi Industries looks to raise ₹125.43 crore while Auto component maker SJS Enterprises may raise ₹800 crore through the public listing.
Next week is packed with the initial public offering (IPO) of several companies including SJS Enterprises and Sigachi industries.

Both the companies will open their IPOs on November 1 and will close on November 3.

To help you understand the fundamentals of the companies before subscribing to its IPO, here are some details of both IPOs you need to know.

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Sigachi Industries

The Hyderabad-based manufacturer of cellulose-based excipients, Sigachi Industries, is looking to raise ₹125.43 crore by selling 76.95 lakh shares. The company is engaged in the manufacturing of microcrystalline cellulose, the polymer that is widely used for finished dosages in the pharmaceutical industry.

It operates through three manufacturing units in Hyderabad and Jhagadia, Dahej located in Gujarat. The proceeds from the issue will be used for expansion of production facilities of MCC at Dahej and Jhagadia in Gujarat.

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Financial performance of the chemical manufacturer has been increasing steadily over the past few financial years.
ParticularsTotal incomeProfit
FY21₹196 crore₹30 crore
FY20₹143 crore₹20 crore
FY19₹132 crore₹19 crore

SJS Enterprises

SJS Enterprises, one of the leading players in the Indian decorative aesthetics products industry, will also open its IPO alongside PolicyBazaar and Sigachi Industries on November 1. The IPO consists of a pure offer for sale of ₹710 crore by Evergraph Holdings Pte and ₹90 crore by KA Joseph. Currently, Evergraph Holdings and KA Joseph hold 77.86% and 20.74% stake in the company, respectively.

It also manufactures a wide range of aesthetics products that cater to the requirements of the commercial vehicles, medical devices, farm equipment and sanitary ware industries. The company's manufacturing facilities are located in Bengaluru and Pune.
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Profit growth of the company has grown consistently in the past few years.
ParticularsRevenueProfit
FY21₹255 crore₹47 crore
FY20₹221 crore₹41 crore
FY19₹240 crore₹37 crore

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