Quarterly Updates14 Nov 2025, 11:44 am
Sigachi Industries Utilizes IPO Proceeds as per Offer Document, Seeks Extension for Completion of Croscarmellose Sodium Project
AI Summary
Sigachi Industries Ltd. has fully utilized the funds raised through its Initial Public Offering (IPO) as per the offer document. The company had raised 125.43 Crore INR, which was used for the expansion of production capacity for microcrystalline cellulose (MCC) at Dahej, Gujarat. However, the company seeks an extension for the completion of the Croscarmellose Sodium (CCS) project, which was originally planned for Kurnool, Andhra Pradesh, but has been relocated to Dahej SEZ. The shift and extension were approved by the shareholders in their AGM held on 07.09.2023 and EGM held on 05.02.2024. The company has received all major approvals from concerned government authorities for the CCS project.
Key Highlights
- Sigachi Industries has fully utilized IPO proceeds as per offer document
- Company seeks extension for completion of Croscarmellose Sodium project
- Project location shifted from Kurnool to Dahej SEZ to avail existing facilities
- All major approvals received for Croscarmellose Sodium project
- No material deviations or unfavorable events affecting the project's viability