- Signature Global’s IPO received tepid response from institutional investors on day 1.
- Investors can bid for a minimum of 38 equity shares and in multiples of 38 equity shares thereafter.
- It has fixed the price band at ₹366 to ₹385 per share and the issue closes on September 22.
The company has fixed the price band at ₹366 to ₹385 per equity share for its maiden public offer which closes on Friday, September 22. Investors can bid for a minimum of 38 equity shares and in multiples of 38 equity shares thereafter.
The public issue of shares that have a face value of ₹1 comprises fresh issuance of equity shares worth ₹730 crore and an Offer for Sale (OFS) of shares worth ₹127 crore.
Signature Global started operations in 2014 through its subsidiary Signature Builders Pvt Ltd with the launch of 'Solera' project on 6.13 acres of land in Gurugram, Haryana.
As of March 31, 2023, it had sold 27,965 residential and commercial units, all within the Delhi-NCR region, with an aggregate saleable area of 18.90 million square feet.
The company's sales (net of cancellation) have grown at a compounded annual growth rate (CAGR) of 42.46 per cent, from 1,690.27 crore in fiscal 2021, to 3,430 crore in fiscal 2023.
As of March 31, 2023, it had sold 25,089 residential units with an average selling price of 36 lakh per unit.
ICICI Securities Ltd, Axis Capital Ltd and Kotak Mahindra Capital Company Ltd are the book-running lead managers to the issue.
The equity shares of the company will be listed on the BSE and NSE.
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