SJS Enterprise Limited IPO
October 28, 2021Muhurat Trading
November 2, 2021
Sigachi Industries Limited IPO
Open: Nov 1, 2021 | Close: Nov 3, 2021
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About the Business
Incorporated in 1989, Sigachi Industries is engaged in manufacturing of Microcrystalline Cellulose (MCC) which is widely used as an excipient for finished dosages in the pharmaceutical industry. MCC has varied applications in the pharmaceutical, food, nutraceuticals, and cosmetic industries. The company manufactures MCC of various grades ranging from 15 microns to 250 microns and the major grades of MCC manufactured and marketed by the company are branded as HiCel and AceCel. Presently, the company manufactures 59 different grades of MCC at the manufacturing units, situated in Hyderabad and Gujarat. The company has an in-house R&D division equipped with the necessary facilities to carry out all necessary trials to develop new molecules from concept to commissioning.
The company has received various quality certifications and operates 3 manufacturing units namely, Unit I situated at Hyderabad, and two manufacturing units, Unit II and Unit III situated at Jhagadia and Dahej, in Gujarat. As of March 31, 2021, company's total MCC manufacturing capacity is 13,128 MTPA from three locations.
Funds from the fresh issue will be used for
The Company will utilize fresh issue proceeds for the following:
- Expansion of production capacity for MCC at Dahej, Gujarat
- Expansion of production capacity for MCC at Jhagadia, Gujarat
- Funding capital expenditure to manufacture CCS at the Proposed Unit
- General corporate purposes
Company Financials: (in crores)
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Open: November 01, 2021 | Close: November 03, 2021