Sigachi Industries IPO - Listing Day Performance

Sigachi Industries had an incredibly strong listing on 15th November and listed at a premium of 250%, and closed the day at 5% upper circuit. The stock remained locked in upper circuit for the best part of the day. With overall subscription of 101.91X and solid trading interest in the GMP market, the listing was expected to be very strong.
 

Here is the Sigachi Industries listing story on 15-Nov.

The IPO price was fixed at the upper end of the band at Rs.163 considering the 101.91X subscription. The price band for the Sigachi Industries IPO was Rs.161 to Rs.163.

On 15th Nov, the stock of Sigachi Industries listed on the NSE at a price of Rs.570, a premium of 250% above the issue price of Rs.163. On the BSE, the stock listed at Rs.575 a premium of 253% on the issue price.

On the NSE, Sigachi Industries closed on 15-Nov at the upper circuit price of Rs.598.50, a first day closing premium of 267% on the issue price. On the BSE, the stock closed at the upper circuit of Rs.603.75, a first day closing premium of 270% on the issue price.

On both the exchanges, the stock not only listed at a huge premium to the IPO price but also closed Day-1 locked in 5% upper circuit.

On Day-1 of listing, Sigachi Industries touched a high of Rs.598.50 on the NSE and a low of Rs.570. The stock closed on upper circuit. On Day-1 of listing, the Sigachi Industries stock traded a total of 14.98 lakh shares on NSE amounting to value of Rs.87.12 crore.

It did not feature among the top trades on value or on volumes on NSE.

On the BSE, Sigachi Industries touched a high of Rs.603.75 and a low of Rs.570.45. On BSE, the stock traded a total of 5.62 lakh shares amounting to value of Rs.33.68 crore. It was not among the most active shares on the BSE.

At the close of Day-1 of listing, Sigachi Industries had a market capitalization of Rs.1,856 crore with free-float market cap of Rs.334 crore.

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