SIGNATUREGLOBAL (INDIA) IPO SUBSCRIBED 11.88 TIMES

Published on Sep 22, 2023 17:41

The initial public offer (IPO) of Signatureglobal (India) received bids for 13,36,05,036 shares as against 1,12,43,196 shares on offer, according to stock exchange data at 17:33 IST on Friday (22 September 2023). The issue was subscribed 11.88 times.

The issue opened for bidding on Wednesday (20 September 2023) and it will close on Friday (22 September 2023). The price band of the IPO is fixed at Rs 366-385 per share. An investor can bid for a minimum of 38 equity shares and in multiples thereof.

The offer comprises of a fresh issue and an offer for sale (OFS). The fresh issue is of Rs 603 crore out of which Rs 264 crore would be used towards re/pre-payment (in full or part) of certain borrowings availed by the company, Rs 168 crore will be used towards fund infusion in certain subsidiaries of the company for re/pre-payment (in full or part) of certain borrowings availed by the subsidiaries and the balance is towards inorganic growth through land acquisitions and general corporate purposes.

The OFS includes sale of equity shares aggregating upto Rs 127 crore by International Finance Corporation (IFC), the investor selling shareholder.

On post-issue expanded equity, the holding of IFC will decline to 2.74% from 5.38% of the pre-issue equity capital.

Gross total debt of the company as of end 31 March 2023, was Rs 1,709.75 crore.

Ahead of the IPO, Signatureglobal (India) on Monday, 18 September 2023 raised Rs 318.49 crore from anchor investors. The board allotted 82.72 lakh shares at Rs 385 each to 19 anchor investors.

Signatureglobal (India) is a real estate development company, primarily focused on affordable and lower mid segment housing (below Rs 80 lakh housing category) in the National Capital Region of Delhi (Delhi NCR) realty market.

The company reported a consolidated net loss of Rs 63.86 crore and net sales of Rs 1,553.57 crore for the twelve months ended on 31 March 2023.