Signature Global IPO: Issue to open on September 20; check price band, other key details
real estate developer Signature Global will open for subscription on Wednesday, September 20. The company has fixed the price band for the issue at ₹366 to ₹385 per share. The three-day bidding for Signature Global IPO will conclude on Friday, September 22.
The anchor book will open on Monday, September 18. Signature Global IPO comprises a fresh issue of equity shares worth ₹603 crore and an offer of sale (OFS) of shares worth ₹127 crore by its shareholder International Finance Corporation, a World Bank Group member. At the upper end of the price band, Signature Global IPO issue size stands at ₹ ₹730 crore.
The issue size has been reduced from ₹1,000 crore planned earlier. Also Read: JSW Infrastructure IPO: Issue to open on September 25, close on September 27 Signature Global IPO lot size is 38 equity shares and the minimum investment amount required for retail shareholders is ₹14,630. The company is expected to fix the basis of IPO share allotment on September 27 and initiate refunds on September 29, while the shares are likely to be credited to the demat accounts of eligible allottees on October 3.
Signature Global shares are proposed to be listed at BSE and NSE on October 4. The company plans to utilise the net proceeds from the fresh share sale towards repayment of debts, infusion of funds in certain subsidiaries, inorganic growth through land acquisitions and general corporate purposes. In the Signature Global IPO, 75% of the net offer has been reserved for qualified institutional bidders (QIBs), 15% of the offer is reserved for non-institutional investors (NIIs) and 10% for retail investors.
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