Signature Global makes decent Dalal Street debut; shares list with 15.5% premium at ₹445 apiece on BSE
₹445.00 apiece on the BSE, a premium of 15.58% to the issue price of ₹385 per share. Signature Global listing price on NSE was at a 15.32% premium at ₹444 per share.
The ₹730-crore worth initial public offering (IPO) of the real estate developer Signatureglobal (India) was open from September 20 to September 22. Also Read: Nuvama Wealth Management makes stock market debut; lists at ₹2,699 per share on BSE Signature Global IPO was subscribed 11.88 times in total.
The retail investors' portion was subscribed 6.82 times, Non-Institutional Investors' (NII) portion was booked 13.54 times, and Qualified Institutional Buyers' (QIB) quota was subscribed 12.71 times. The total issue size of Signature Global IPO was is ₹730 crore which comprised a fresh issuance of 15,662,338 shares totalling to ₹603 crore worth of shares and an offer for sale (OFS) of up to 3,298,701 equity shares aggregating to ₹127 crore by promoter and prompter group.
Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here! The company had fixed price band of the public offer at ₹366 to ₹385 per share. It to use the net proceeds from the offering to pay off or prepay, in full or in part, a number of borrowings that it has taken out; to inject money into a number of its subsidiaries, including Sternal Buildcon, Signatureglobal Homes, Signatureglobal Developers, Signatureglobal Business Park, and Signatureglobal Homes, to pay off or prepay a number of borrowings that those subsidiaries have taken out; and to grow inorganically through acquisitions.
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