New Delhi, Nov 1 (PTI) The initial public offer of microcrystalline cellulose manufacturer Sigachi Industries received 9.52 times subscription on Monday, the first day of the issue.

It received bids for 5,12,75,610 shares against 53,86,500 shares on offer, according to NSE data.

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Qualified institutional buyers (QIBs) category received 57 per cent subscription, while that of non institutional investors 4.44 times and retail individual investors (RIIs) 16.81 times.

Price range for the Rs 125.42-crore offer is at Rs 161-163 per share.

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The initial public offer is of up to 76,95,000 equity shares. Unistone Capital Private Limited is the manager to the offer.

Sigachi is a leader player in the field of pharma excipients, nutra and food ingredients.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)