Sigachi Industries shares made a stellar stock market debut on Monday. The stock opened for trading at Rs 575 on the BSE compared with its issue price of Rs 163 per shares, marking an upside of 3.52 times or 253 per cent. On the National Stock Exchange, Sigachi Industries shares opened for trading at Rs 570, marking an upside of Rs 407 from the issue price. The stock rose as much as 270 per cent from the issue price to hit an intraday high of Rs 603.75 per share.
Sigachi Industries shares were in very high demand during the three-day share sale via initial public offering (IPO) which ended on November 3. Sigachi Industries IPO was subscribed 102 times with portion reserved for non-institutional investors booked 172 times. Shares reserved for Qualified Institutional Buyers was subscribed 86.51 times and portion set aside for retail investors was subscribed 80.49 times, data from the National Stock Exchange showed.