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Issue Open Date
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01-Nov-21
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Issue Closing Date
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03-Nov-21
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Application Money
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100
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Allotment Money
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Price Band
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161
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163
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Minimium Application No.
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90
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Issue Size (Shares)
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7695000
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Market Lot
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1
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Objective
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1. Funding capital expenditure:a. for expansion of production capacity for microcrystalline cellulose (“MCC”) at Dahej, Gujarat.b. for expansion of production capacity for microcrystalline cellulose (“MCC”) at Jhagadia, Gujarat.c. to manufacture Croscarmellose Sodium (“CCS”), a modified cellulose used as excipient at Kurnool, Andhra Pradesh.2. General Corporate Purposes.
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Category
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No. of Shares
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No. of Shares
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Subscription Ratio
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Offered / Reserved |
Bid For |
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Non-Institutional Investors
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1154250
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199031670
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172.433762183236
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|
Qualified Institutional Buyers
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1539000
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133137000
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86.5087719298246
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Retail Individual Investors
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2693250
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216778770
|
80.4896574770259
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Business Description
Our Company was incorporated as a private limited company in 1989, with the business to manufacture chlorinated paraffinand hydrochloric acid in our manufacturing unit situated at Hyderabad. In the year 1990, our Company diversified its product portfolio to manufacture microcrystalline cellulose (“MCC”). Our Company commenced its export operations in the year 1996 by exporting its first order of MCC to Bangkok. Owing to the consistent efforts of our Company, the sale from our export operations constituted 32% of our total sales during the financial year ending March 31, 2004. In the year 2000, with an aim to diversify our business activiti our Company started manufacturing premium grade microcrystalline cellulose by successfully commissioning a spray drier and a multi-fuel furnace, which in turn also increased our manufacturing capacity from 720 metric tonnes per annum to 1,080 metric tonnes per annum. Presently, we manufacture 59 different grades of MCC at our manufacturing units, situated at Hyderabad and Gujarat with an aggregate installed capacity of 11,880 MTPY. With over 30 years of continuous growth, three multi locational manufacturing facilities and consistent focus on delivering premium quality product, our Company is one of the leading manufacturers of cellulose based excipients in India, in terms of volume (Source: Research Report on Microcrystalline Cellulose Industry). We have also entered into operations and management agreements with Gujarat Alkalies and Chemicals Limited (“GACL”) for operating and managing the manufacturing units owned by GACL and for contract manufacturing of sodium chlorate,stable bleaching powder and poly aluminum chloride in the said units. For further details, please refer to the heading “Material Agreements” in the chapter titled “History and Certain Corporate Matters” at page 198 of this Draft Red Herring Prospectus.
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Promoter's Holding
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Total Share Capital
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14897910
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Offered to Public
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7695000
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Promoter's Holding (Pre-Issue)
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64.64
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Promoter's Holding (Post-Issue)
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48.46
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Address |
229/1 & 90 2nd Floor
Kalyan's Tulsiram Chambers
Madinaguda
Hyderabad,
Telangana,
500049
Phone : 040-40114874-76
Email : cs@sigachi.com
Website : https://sigachi.com
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Registrar |
Bigshare Services Pvt Ltd
Office No S6-2
6th Floor
Pinnacle Business Park
Next to Ahura Centre
Mahakali Caves Road
Andheri (E)
Mumbai
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Listed at |
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BSE, NSE
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Lead Manager |
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Unistone Capital Pvt Ltd.
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Promoters |
Amit Raj Sinha
Chidambarnathan Shanmugnathan
Rabindra Prasad Sinha
RPS Projects & Developers Pvt Ltd.
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