Hyderabad based, Sigachi Industries, one of the leading manufacturers of cellulose based excipients in India
Pharma Excipient Company, Sigachi files for 60 cr IPO
Chennai, September 29, 2020: Hyderabad based, Sigachi Industries, one of the leading manufacturers of cellulose based excipients in India, in terms of volume with over 3 decades of experience and amongst the top 10 globally, has filed its DRHP to raise approximately 60 crs, as per market sources. The IPO is a fresh issuance of upto 28,41,500 equity shares of face value of Rs 10 each
The company is engaged in the manufacturing of microcrystalline cellulose (“MCC”), the polymer is widely used for finished dosages in the pharmaceutical industry. The inert non-reactive, free flowing and versatile nature of MCC has varied applications in the pharmaceutical, food, nutraceuticals and the cosmetic industries. Presently, the company manufactures 50 different grades of MCC at its manufacturing units, situated at Hyderabad and Gujarat under the brand named HiCel and AceCel.
The net proceeds of the issue are to be used for expansion of production facilities of MCC at Dahej and Jhagadia in Gujarat between FY21 and FY22 as well as general corporate purposes. The proposed expansion will add 36 00 MTPA capacity to the Dahej and Jhagadia facility, augmenting its capacity to 7890 MTPA and 5760 MTPA respectively.
Saffron Capital Advisors has been appointed as the BRLM to the Issue. The Equity Shares offered through the DRHP are proposed to be listed on the BSE and the NSE
About Sigachi Industries
Our Company was incorporated as a private limited company in 1989, with the business to manufacture chlorinated paraffin and hydrochloric acid in our manufacturing unit situated at Hyderabad. In the year 1990, our Company diver sified its product portfolio to manufacture microcrystalline cellulose (―MCC). With over 30 years of continuous growth, three multi-locational manufacturing facilities and consistent focus on delivering superior 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. We operate three manufacturing units namely, Unit – I situated at Hyderabad and two manufacturing units, Unit – II and Unit – III are situated at Jhagadia and Dahej, respectively located in Gujarat.
