Sigachi Industries intends to raise ₹125.43 crore with this public issue.
The IPO of the company was subscribed 101.91 times in the three-day stake sale.
The company will list on the stock market by November 15, 2021.
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The allotment status of Sigachi Industries’ initial public offering (IPO) was announced yesterday, November 9.
The Hyderabad-based manufacturer of cellulose-based excipients company received strong demand from the investors and its IPO was subscribed 101.91 times in the three days of bidding process.
Moreover, shares of the company commanded a strong premium of ₹160 in the grey market.
Sigachi Industries is engaged in the manufacturing of microcrystalline cellulose, the polymer that is widely used for finished dosages in the pharmaceutical industry. The company intends to raise ₹125.43 crore through the IPO, and offered its shares at price band of ₹161 to ₹163 per share.
If you have not checked whether you received the IPO allotment or not, click here and follow the procedure.
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All the applicants who got issued will receive the share in their demat account on the date of listing, i.e November 15. The rest, who didn’t get the allotment, will receive their IPO refund on/before the end date of mandate.
The investors are usually intimated about the allotment status through SMS on their registered mobile number. Every applicant gets a message when shares are blocked and unblocked in their bank account. If the funds are blocked that means the IPO is allotted
The investor would have mandated the IPO payment through their UPI ID. This transaction would have a validity period. The IPO amount which is blocked in an investor account usually gets unblocked one day later the IPO allotment or before the end of the validity period.
Here is the screenshot of an IPO mandate after the transaction is made through the UPI ID that has the validity period of the IPO.
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