Sigachi Industries IPO Latest News: Draft papers filed with Sebi - Initial public offering to see sale of up to 76.95 lakh equity shares

Sigachi Industries, manufacturer of cellulose-based excipient, has filed draft papers with capital markets regulator Sebi to raise funds through an initial share-sale.

The initial public offering (IPO) will see the sale of up to 76.95 lakh equity shares, draft red herring prospectus (DRHP) filed with Sebi showed.

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The amount raised through the public issue will be used for the expansion of existing manufacturing facilities at Dahej as well as Jhagadia in Gujarat and for general corporate purposes.

The Hyderabad-based firm is engaged in the manufacturing of Microcrystalline Cellulose (MCC) which is widely used as an excipient for finished dosages in the pharmaceutical industry and has varied applications in food, nutraceuticals, and the cosmetic industries.

It carries out its operations from three manufacturing units situated at Hyderabad, Jhagadia, and Dahej in Gujarat.

Unistone Capital is the sole book-running lead manager to the issue. The equity shares of the company will be listed on NSE and BSE.