They also recommended partial profit-booking and to hold the remaining shares for the long term. Due to the small size of the IPO, the initial listing will be in the T group that may curtail speculative moves. Presently, the company manufactures 59 different grades of MCC at the manufacturing units, situated in Hyderabad and Gujarat. Their facilities are EXCiPACT GMP, SGMP, HACCP, EDQM CEP and ISO 9001:2015 certified. To read full story, subscribe to ET Prime, Billed annually at Commenting on the listing gains of Sigachi Industries IPO, Abhay Doshi, founder . Forgot to add another important thing. One of the leading manufacturers of MCC in India. It can go anywhere now, looking at the selling pressure seems more LC, until someone is willing to buy 12 lac shares to break the Lower Circuit and turn into a Upper Circuit. Bid/Offer Opens On: Nov 1, 2021. Download the Mint app and read premium stories. Download The Economic Times News App to get Daily Market Updates & Live Business News. Looks like you have exceeded the limit to bookmark the image. On Monday, the stock one of the leading payments banks in India closed over 5% down at Rs 516, a discount of more than 10% to the offer price. Existing shareholders are advised to hold the stock with a stop loss at Rs 480, while new investors are advised to wait till the stock prices cool down, he said. 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Last Updated: November 15, 2021, 08:43 IST, Sigachi Industries IPO listing on November 15. @lokes, thank you so much for your suggestion, your view was right. The stockopened with 252.8 percent premiumat Rs 575 on the BSE against an issue price of Rs 163, making the biggest ever listing. In case you cant find any email from our side, please check the spam folder. IPO investors have been rewarded with superior gains. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express writtern permission of moneycontrol.com is prohibited. Oops! On Sigachi IndustriesIPO valuation, Anand Rathi financial services limited said in a note,At the upper end of the IPO price band, Sigachi Industries Ltd. is offered at P/E of 15.1x its TTM earnings, with a market capitalization of Rs 5,011 million. The Sigachi Industries IPO lot size is 90 shares. Sigachi Industries has raised Rs 125.43 crore through its public issue that had seen a healthy subscription of 101.91 times during November 1-3. Due to small issue size it is expected that the company will list in T2T segment," Doshi added. PB Fintech Limited (PBFL), which operates digital insurance marketplace Policybazaar and consumer credit marketplace Paisabazaar, stands at number five. Gendered social networks are in the way of womens care Resistance to free exits continues to hobble Indias ec IBC experts push for creditors standards. New Delhi: As Sigachi Industries IPO's listing date 15th November has arrived, bidders and market observers are guessing about the expected listing gain . The issue was subscribed 101.91 times, with non-institutional investors' allocation fetching 172.43 times the bid. After dipping ahead of share allotment process, the public issue has regained its lost ground in the grey market. Free - Relationship Manager +Includes DocuBay and TimesPrime Membership. Recommendation-Expect strong listing gains, book profits if needed.". Moneycontrol.com advises users to check with certified experts before taking any investment decisions. Compared to its offer price of Rs 980 per share, the Policy-Bazaar stock listed at Rs 1,150 and closed at Rs 1,203. Looks like you have exceeded the limit to bookmark the image. Sigachi Industries Limited, headquartered in Hyderabad has submitted Draft Red Herring Prospectus (DRHP) to Securities and Exchange Board of India (SEBI) for initial public offering (IPO) of 200 Crore on 09 August 2021. The stock opened for trading at Rs 575 on the BSE compared with its issue price of Rs 163, 253 percent higher. The shares are proposed to be listed on BSE, NSE. The shares will list on 15th November 2021. The grey market premium or IPO GMP is information that is calculated based on the demand of a company that is coming up with an IPO. The institutional buyers' portion got bids up to 87 times and the retail investors' portion was subscribed 80.5 times. Investors, who had bid for the issue, can check the . The IPO opens on Nov 1, 2021, and closes on Nov 3, 2021. Sigachi Industries saw a bumper listing with a gain of approximately 250 percent on the back of robust fundamentals and attractive valuations. Speaking on the financials of Sigachi Industries; Saurabh Joshi, Research Analyst at Marwadi Shares and Finance Limited said, "Considering the FY-21 adjusted EPS of 10.80 on the post-issue basis, the company is going to list at a P/E of 15.10 with a market cap of 5,011 mn. The Cut-off time for UPI Mandate confirmation is 5 PM on the issue closing day. Copyright HT Digital Streams Limited All rights reserved. It will also help the company to manufacture croscarmellose sodium, a modified cellulose used as excipient, at Kurnool in Andhra Pradesh. Free - Classroom Training, The Sigachi Industries IPO listing date is on. For the unversed, GMP of a public issue is nothing but an estimated listing gain by the grey market. Six IPOs launched this year doubled investors money on the day of listing. New Delhi: As Sigachi Industries IPO's listing date 15th November has arrived, bidders and market observers are guessing about the expected listing gain from the public issue worth Rs 125.43 crore. . Powergrid Investment trust secured the third position with an issue size of Rs 7,734 crore. The chemical manufacturing company will be listed on both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) at 10 am on November 15. spark of this share is over wait for quarterly reasults now. Is circuit limit is change from tomorrow??? Mumbai: Investor response to three stock market debutants - PB Fintech. Sigachi IPO's grey market premium (GMP) is also signaling about Sigachi share listing gains. 20/Trade (Options & Intraday), Full-service @ Flat Rate This IPO is an entirely fresh issue. For reprint rights: Continue reading with one of these options: Login to get access to some exclusive stories, Get access to exclusive stories, expert opinions &, Valid only with UPI, Credit & Debit Cards Autopay, Inciting hatred against a certain community, 15 Rakesh Jhunjhunwala-backed Star Health the largest standalone health insurance company in India with a market share of 15.8 per cent stood at the fourth position. Strategically located, multi-locational manufacturing facilities. After a record breaking ipo debut, Found an interesting and worth reading Finshots article on What is Sigachi Industries and what does it do- https://finshots.in/markets/sigachi-industries-record-breaking-ipo-pop/. In fact, grey market is also reflecting about strong listing of the public issue as shares of Sigachi Industries are available at a premium of 200 in the grey market today. My guess for Sigachi -> Its GMP indicated price of 400. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. Get details on latest GMP, Grey Market Premium, Kostak, Subject to Sauda and recommendations with in depth analysis for Sigachi Industries Limited IPO. Mumbai: Investor response to three stock market debutants - PB Fintech, Sigachi Industries and SJS Enterprises - on Monday was mixed. I expect, the Sigachi shares should list above 300 to 320 or more against the issue price of 161 to 163 per equity share." They should hold Sigachi Industries shares for a one-month target of Rs 888 maintaining a stop loss at Rs 530 per share levels.. Copyright 2023 Bennett, Coleman & Co. Ltd. All rights reserved. The price band for Sigachi Industries IPO has been fixed at Rs 161-163 a share. for expansion of production capacity for MCC at Dahej, Gujarat 28.15 crores, for expansion of production capacity for MCC at Jhagadia, Gujarat 29.24 crores, funding capital expenditure to manufacture CCS at the Proposed Unit 32.29 crores. Download the Mint app and read premium stories. Days Trial Flat 20 Per Trade in F&O, 30 days brokerage free trading They said that generally GMP of a public issue goes down after the share allotment but in the case of Sigachi Industries IPO, grey market has remained bullish. This is the highest listing gain by any company launched in year 2021. Given that the company is one of the leading manufacturers of microcrystalline Cellulose in India with over 30 years of experience, pan India and international market presence, experienced management team and investment led future growth with high RoNW of 32.12 per cent in FY21 and reasonable valuation. How IIT Delhis Programme in Entrepreneurship Development will help to build businesses? By virtue of above factors and market sentiments, listing gains of around 135 per cent or 220 could be expected that translates into a strong listing price range around 383 a piece on the listing day.". Phone: +91 040 4011 4874 Phone: +91-22-6263 8200 Tuesday, 21 February 2023. The portion for non-institutional investors was subscribed 172.43 times, those meant for Qualified Institutional Buyers (QIBs) 86.51 times and Retail Individual Investors (RIIs) 80.49 times. The strong response from the investors, robust financials, high premium in the grey market indicate a bumper listing for Sigachi Industries IPO on Monday. Chief Content Producer at Live Mint Digital Team, Copyright 2022 HT Digital Streams Ltd All Right Reserved, Domestic PV, two-wheeler sales rise in Feb, exports plummet, Govt approves procurement of HAL basic trainer aircraft, Cement price hikes fail to sustain, respite seen in Q1, Govt plans life support withdrawal SOPs for terminally ill, How politics is shaping stardom and cinema in India. Satisfactory financial performance and reasonable pricing resulted in strong demand. @arif: you can place your sell order but its already too late, it wont be executed for today, you should have placed at 9am exactly or even before as AMO. The IPOwas valued at 16x FY21 with no listed peer. They said that tiny sized issue may list above 300 to 320 against its price band of 161 to 163 per equity share. As per the market observers, grey market premium is considered as expected listing gain from the public issue. I had no hopes either so was not that disappointed. But the IPO by Paytm failed to impress investors. Stocks. The public issue subscribed 80.49 times in the retail category, 86.51 times in the QIB category, and 172.43 times in the NII category. As Sigachi Industries IPO (Initial Public Offering) listing date (15th November 2021) is fast approaching, lucky bidders and market observers are busy guessing about the expected listing gain from the public issue worth 125.43 crore. A SIP calculator is a simple tool that allows individuals to get an idea of the returns on their. Sigachi's debut was the strongest with the stock listing at 570, a 253% premium over its issue price of 163, best in 13 years. This makes it one of the biggest gainers on listing in the history of the Indian markets. It was Not fraud pricingsigachi benefited by prevailing latent gmp hypes of during ipo, which was expected listing at over 600 as gmp was upto 400 till or before paytm listingyou may say sigachi did latent listing and latent did what sigachi would have expected to do.had sigachi listed today then it could have been at near 350 IMO, Should be back to UC within 2-3 days :-) fingers crossed let''s see. On Friday, the listing of Fino Payments Bank was also at a 5% discount at Rs 544 from its IPO price of Rs 577. After listing at a premium of 253% over the offer price, Sigachi shares were locked at the upper circuit of 603.75, 270% . Observers said that after the announcement of Sigachi share allotment, Sigachi Industries IPO has been standing at 230, which is a good sign from an investor's perspective. The company established itself as one of the dependable suppliers of their products in Asia, Australia, the American continent, Europe and Middle East. He said that Sigachi Industries IPO has been successful in gaining huge interest from investors getting subscribed over 100 times. Register now. All rights reserved. Log in to our website to save your bookmarks. Its very less stock float. This financial tool allows one to resolve their queries related to Public Provident Fund account. Notably, capacity utilisations at all three plants in Dahej, Jhagadia and Hyderabad range at 85-95 per cent, Reliance Securities said. Thanks will observe it.. Promoters have picked up 10k shares at 600 levels so they seem to believe there is a bounce back soon, https://trendlyne.com/equity/insider-trading-sast/custom/?query=S.%20Sarveswar%20Reddy. To three stock market debutants - PB Fintech, Sigachi Industries IPO listing date is on one of IPO! Lokes, thank you so much for your suggestion, your view was right profits if needed. `` with! 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One-Month target of Rs 7,734 crore and ISO 9001:2015 certified BSE against an issue price of Rs 7,734.. You have exceeded the limit to bookmark the image that Sigachi Industries IPO has been successful in huge... The long term Fintech Limited ( PBFL ), Full-service @ Flat Rate this IPO is an fresh...
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