India's Sigachi Industries soars in market debut

Sigachi Industries

15/11/2021 07:49

** Shares of the pharma and food ingredients maker  SIGC.NS 
open at 570 rupees, a 250% premium to the issue price of 163
rupees, in their market debut 
    ** SIGC's IPO, consisting of more than 7.6 mln shares, was
subscribed over 100 times 
    ** Co's shares surge as much as 267.2% to 598.50 rupees 
    ** Co has said it intends to use the proceeds to fund
expansion of production capacity for microcrystalline cellulose
in Gujarat state and to make a modified cellulose used as
excipient in the state of Andhra Pradesh
    ** Incorporated in 1989, SIGC makes pharma excipients, nutra
and food ingredients
    ** Unistone Capital Private Ltd was a book running lead
manager of the IPO
    ** PB Fintech Ltd  PBFI.NS , parent of online insurance
aggregator Policybazaar, and the maker of decorative aesthetics
products S.J.S. Enterprises  SJSE.NS  also made their market
debut on Monday

 (Reporting by Rama Venkat in Bengaluru)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))