Signature Global Announced RS 730 Crore IPO. 10 Key Factors That You Need To Consider Before Subscribing To It.

Signature Global Announced RS 730 Crore IPO. 10 Key Factors That You Need To Consider Before Subscribing To It.

Signature Global opened for an IPO subscription worth RS 730 crore on 20 September. The company raised RS 318.5 crore from 19 anchor investors before the release of the IPO. The Global IPO includes a fresh issue of shares worth RS 603 crore and an OFS (Offer-for-sale) of RS 127 crore by the International Finance Corporation (IFC). 

Highlights: 

• Signature Global India IPO attracts the eye of investors. After issuance, stocks will soon get listed on BSE and NSE. 

• Ahead of the IPO, Signature Global has raised up to RS 318.5 crore from 19 anchor investors till now. 

• The offer comprises fresh share issuance worth RS 603 crore and OFS of RS 127 crore. 

Also Read: Benefit from potential Affordable housing boom with Signature Global IPO. 

Let's look at the 10 important things before subscribing to the IPO: 

1. Dates of IPO

The IPO subscription opened up on 20 September 2023 and will end on 22 September 2023. 

2. Objective of IPO

The proceeds of certain borrowings will be used by the company for the pre-payment or re-payment, in full or partial. It will infuse these funds into some of its subsidiaries. The rest of the funds will be used for the inorganic growth of the company through land acquisitions or general purposes. 

3. Price Band 

The signature Global IPO price band is fixed at RS 366 to 385. 

4. Details of IPO

The company plans to raise RS 703 crore. Before the release of the IPO, it has already raised RS 318.5 crore from 19 anchor investors, including the Nomura Trust, Kotak Mahindra Trustee, Nippon India, etc. 

5. Lot Size

The minimum lot size is 38 equity shares of RS 13.908 for retail investors. The bidding amount will keep on increasing to RS 14,630 at the upper end. 

6. Company's Profile

Signature Global (India) is the top real estate development company in the NCR region of Delhi. It offers affordable mid-segment housing services with a 19% market share. 

Also Read: JSW Infrastructure IPO opening soon.  

7. Company’s financial

The company’s net loss FY23 decreased to RS 63.7 crore. The loss in FY22 was RS 115.5 crore. The total income increased to RS 1585.88 crore this year. 

8. Merchant Bankers 

The book runner leads for the IPO issue are ICICI Securities, Kotak Mahindra Capital Company, and Axis Capital. And the registrar is Link Intime India Private Limited. 

9. Risks

The company has made significant losses in the past that need to be covered before any profitability can happen in the future. Any fluctuations in the market will affect the revenues or earnings of the company. 

10. Listing date

Signature Global’s IPO shares will be listed on BSE and NSE both. Though there is no announcement made as of now, shares are expected to be listed on 4 October 2023. 

Find the latest articles on IPO here.