Sigachi Industries IPO Subscribed Fully On Day 1

New Delhi: The Initial Public Offering (IPO) of Hyderabad based Sigachi Industries was subscribed fully with an hour of opening on Monday.

The Rs 125.43 crore IPO which opened on Monday can be subscribed till Wednesday, November 3.

As per the NSE, the company's IPO was subscribed 2.29 times till 11:51 am. The total bid that the company received was over 1.2 crore bids for 53.86 lakh shares on offer. The data also revealed that at the cut-off price, a total of 1.03 crore bids were received.

According to the data, the company's shares were in high demand among retail investors as the reserved portion for them was subscribed 4.27 times, while the reserve portion for QIB and non-institutional investors was not subscribed till then.

The company has fixed the price band of Rs 161-163 per share and its selling in the same price band. Retail investor can bid for 90 shares for a minimum of one lot and up to a maximum of 13 lots.

The price of one lot will of the company will be Rs 14,670 at the upper price band. The IPO will close on November 3 and its shares are expected to be listed on the stock exchange on November 15, 2021.

The IPO of Sigachi Industries comprises a fresh issue of 7.7 million shares and IPO GMP aka grey market premium is Rs 160 today.

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