Sigachi Industries IPO subscribed 9.2 times; Policybazaar, SJS Enterprises see weak response from investors on Day 1

Three initial public offerings (IPOs) opened for subscription on Monday. Besides, Nykaa IPO, which opened on October 28, will close today, while it is second day of Fino Payments Bank IPO that started on October 29.  

Policybazaar, SJS Enterprises and Sigachi Industries IPOs, which opened today, will close on November 3.  

See Zee Business Live TV Streaming Below:

PB Fintech's Policybazaar and decorative aesthetics product company SJS Enterprises started off with weak subscription numbers, however,  Sigachi Industries was over subscribed.  

PB Fintech's Policybazaar IPO saw barely 0.54 times, while SJS enterprises saw bidding of 19% shares only at the end of Day.  

Sigachi Industries, on the other hand, was subscribed 9.2 times. Sigachi Industries retail portion was subscribed 16.70 times as Retail Individual Investors (RIIs) bid for 4,49,71,920 shares as against 26,93,250 reserved. Non-Institutional Investors' portion saw picking up pace later in the day as NIIs witnessed 4.44 times subscription at the end of Day 1.    

For Policybazaar IPO, Retail Individual Investors (RIIs) led the subscription with 1.18 times bidding as retail portion saw bidding of 71,70,180 shares as against 60,73,026 allotted.  

SJS enterprises, which saw the least interest from investors, saw retail portion being subscribed 0.64 times with RIIs bidding for 33,74,298 shares as against reserved quota of 52,73,070 shares.