Meanwhile, the stock of the company opened in the green at Rs 43.50 on the BSE against the previous close of Rs 43.29. The stock scrip gained further to touch the high of Rs 44.49, a gain of 2.77 per cent.
Mumbai: Shares of microcrystalline cellulose manufacturer Sigachi Industries gained on Tuesday as the pharma company has signed a Memorandum of Understanding (MoU) with Czech Republic-based Respilon. According to the information shared, the two companies have decided to collaborate to develop, manufacture, and commercialise drug delivery solutions based on Respilon’s proprietary NUENEX nanofiber technology.
The company, in an exchange filing, said that the focus of the collaboration will be on the development of an invisible patch and powder-based pharmaceutical delivery formats. It also includes developing commercialisation strategies for relevant APIs and formulations, leveraging nanofiber encapsulation technology.
“Partnering with Respilon aligns perfectly with our vision to deliver next-generation pharmaceutical solutions that improve therapeutic outcomes and elevate the patient experience. We are excited about the possibilities NUENEX technology offers to revolutionise drug delivery systems globally,” said Amit Raj Sinha, Managing Director and CEO of Sigachi Industries Limited.
Meanwhile, the stock of the company opened in the green at Rs 43.50 on the BSE against the previous close of Rs 43.29. The stock scrip gained further to touch the high of Rs 44.49, a gain of 2.77 per cent.
The BSE smallcap stock has a 52-week high of Rs 75.45 and a 52-week low of Rs 34.51. The market cap of the company is Rs 1,445.49 crore.
Earlier, the company got listed with a huge premium of nearly 253 per cent in its debut trade three years ago.
The stock listed at Rs 575, a premium of 252.76 per cent on BSE. On NSE, it debuted at Rs 570, zooming 249.
69 per cent.
The initial public offer of Sigachi Industries had received a whopping 101.91 times subscription earlier this month. The company had set a price range for the Rs 125.42 crore-offer at Rs 161-163 per share.
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
