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Total Issue Size
Fresh Issue + Offer For Sale
Fresh Issue (FI)
Proceeds go to the company
Offer For Sale (OFS)
Proceeds go to the existing investors
MCC capacity expansion at Dahej, Gujarat
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MCC capacity expansion at Jhagadia, Gujarat
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CCS manufacturing unit capital expenditure
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General corporate purposes
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No lots distribution added yet.
(₹ in Crore)
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Sigachi Industries Limited, incorporated in 1989 and headquartered in Hyderabad, manufactures microcrystalline cellulose (MCC), a widely used excipient in finished pharmaceutical dosages. The company produces around 50 different MCC grades, ranging from 15 to 250 microns, that serve the pharmaceutical, food, nutraceutical and cosmetic industries. Production is spread across facilities in Hyderabad and Gujarat, with a combined annual capacity of roughly 11,880 metric tonnes at the time of the IPO. The company has described itself as one of the larger global manufacturers of MCC, competing on both quality and scale in a specialised excipients niche. Proceeds from the fresh issue were earmarked mainly for expanding MCC production capacity at its Dahej and Jhagadia facilities in Gujarat and for a new CCS manufacturing unit, alongside general corporate purposes. The issue was a pure fresh issue with no offer for sale.
Ahead of the public issue, Sigachi raised about Rs 38 crore from two anchor investors, 3 Sigma Global Fund and Nexus Global Opportunities Fund, at the upper end of the price band.
Source: RHP • Analysis provided for informational purposes
Last Updated: 20 July 2026, 9:15 PM
Global scale in a niche excipient
Among the larger manufacturers of microcrystalline cellulose worldwide, with roughly 50 product grades serving pharmaceutical and allied industries.
Diversified end-use base
MCC is used across pharmaceuticals, food, nutraceuticals and cosmetics, reducing dependence on any single end market.
Consistent profitable growth
Revenue and profit both grew steadily over the three years leading up to the IPO, reflecting steady demand for its core product.
Single-product concentration
The business is heavily dependent on microcrystalline cellulose, leaving it exposed to shifts in demand or pricing for that one product line.
Limited independent peer benchmark
With few directly comparable listed peers, investors have limited external reference points to judge the company's valuation.
Capacity expansion execution risk
A meaningful part of the issue proceeds funds new manufacturing capacity, so returns depend on the new plants ramping up as planned.
Sigachi Industries Limited
Company contact details are not available.
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