Sigachi files DRHP for IPO

Cellulose-based excipients manufacturer Sigachi Industries has filed a draft red herring prospectus (DRHP) with SEBI for an IPO to raise about ₹60 crore. The IPO is for a fresh issuance of up to 28,41,500 equity shares of a face value of ₹10 each. The net proceeds are for expansion of production facilitiest Dahej and Jhagadia in Gujarat between FY21 and FY22 as well as for general corporate purposes.

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