Sigachi Industries shares tumble 10% within minutes on THIS tragic incident

2 min read | Updated on June 30, 2025, 12:07 IST

SUMMARY

Sigachi share price: According to news reports, a reactor blast took place at Sigachi Pharma Company (Sigachi Industries), Pasamailaram Phase 1, Medak. Eleven fire tenders have reached the site. Nearly 15-20 people were injured, the report added.

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SIGACHI

Last seen, the stock was trading at ₹51.06, down 7.37% on the NSE. | Image: Shutterstock

Sigachi share price: Shares of Sigachi Industries, a well-known healthcare company, tumbled as much as 9.94% to ₹49.64 apiece on the NSE on Monday, June 30, following an untoward incident.

According to news reports, a major reactor blast at Sigachi, a chemical unit in Pasamailaram, Patancheru, left several feared dead and many seriously injured.

News agency ANI reported, quoting Telangana fire officials, that a reactor blast took place at Sigachi Pharma Company (Sigachi Industries), Pasamailaram Phase 1, Medak. Eleven fire tenders have reached the site. Nearly 15-20 people were injured, the report added.

Last seen, the stock was trading at ₹51.06, down 7.37% on the NSE.

According to a report by The Hindu, a distress call was received by the Fire Control Room at 9.37 AM, prompting the deployment of eleven fire tenders to the site.

"The explosion reportedly took place in one of the reactors at the pharmaceutical manufacturing unit, triggering panic in the vicinity," the report added.

Sigachi Industries IPO and listing details

Sigachi Industries witnessed a bumper listing on November 15, 2021. The stock opened with a 252.8% premium at ₹575 on the BSE against an issue price of ₹163.

Sigachi Industries raised ₹125.43 crore through its public issue, which had seen a healthy subscription of 101.91 times during November 1-3, 2021.

The company planned to utilise the issue proceeds for expansion of production capacity for MCC at Dahej & Jhagadia, Gujarat, and for capital expenditure to manufacture croscarmellose sodium (CCS), a modified cellulose used as an excipient at Kurnool, Andhra Pradesh.

Incorporated in 1989, Sigachi is engaged in manufacturing microcrystalline cellulose, which is widely used as an excipient for finished dosages in the pharmaceutical industry. MCC has varied applications in the pharmaceutical, food, nutraceutical and cosmetic industries.

(With inputs from agencies)

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