Two companies – SJS Enterprises Ltd and Sigachi Industries Ltd – initial public offerings will open on November 1 for subscription and close on November 3. SJS Enterprises expects to be listed on November 15 and Sigachi Industries will be listed on November 11 on the stock exchange.
SJS Enterprises plans to increase ??800 crores. The IPO consists of a pure offer to sell ??688 crore by Evergraph Holdings Pte and ??112 crore by KA Joseph. Currently, Evergraph Holdings and KA Joseph respectively hold 77.86% and 20.74% of the capital of the company.
Axis Capital, Edelweiss Financial Services and IIFL Securities are the lead managers of the issue.
SJS is one of the leading players in the Indian decorative aesthetics industry, offering the widest range of aesthetic products in India. It is a provider of ‘design to delivery’ aesthetic solutions with the ability to design, develop and manufacture a diverse product portfolio for a wide range of customers, primarily in the automotive and home appliance industries. .
It supplied more than 115 million parts with more than 6,000 SKUs in fiscal year 2021 to approximately 170 customers in approximately 90 cities across 20 countries.
In addition to manufacturing aesthetic products that meet the requirements of the two-wheeler, passenger vehicle and consumer appliance industries, it also manufactures a wide range of aesthetic products that meet the requirements of commercial vehicles, medical devices, agricultural equipment and sanitary ware. Industries.
Sigachi Industries, a manufacturer of cellulose-based excipients based in Hyderabad, the IPO consists of a new issue of 7.70 million shares, compared to 2.84 million shares previously scheduled.
The company is engaged in the manufacture of microcrystalline cellulose, the polymer widely used for finished assays in the pharmaceutical industry.
Currently, the company manufactures 50 different grades of MCC at its manufacturing facilities, located in Hyderabad and Gujarat, under the HiCel and AceCel brands.
Proceeds from the show will be used for the expansion of MCC’s production facilities in Dahej and Jhagadia in Gujarat. The expansion will add 3,600 MTPA capacity to the Dahej and Jhagadia facilities, bringing its capacity to 7,890 MTPA and 5,760 MTPA, respectively.
Sigachi Industries operates manufacturing units, namely Unit – I located in Hyderabad and two manufacturing units, Unit – II and Unit – III at Jhagadia and Dahej located in Gujarat.
Saffron Capital Advisors has been named lead manager of the issue.
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