Signatureglobal India IPO: Issue subscribed 24% on day 1 so far; retail portion booked 65%

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IPO subscription status: Signatureglobal Ltd IPO has been subscribed 24% on day 1 so far. Signatureglobal IPO opens for subscription today (Wednesday, September 20), and will close on Friday, September 22. The company has fixed price band of the public offer at ₹366 to ₹385.

Bids can be made for a minimum of 38 equity shares and in multiples of 38 equity shares thereafter. Signatureglobal IPO's retail investors portion was subscribed 65%, NII portion was subscribed 48%, and Qualified Institutional Buyers (QIB) portion did not see much subscription so far. Signatureglobal IPO has received bids for 27,18,178 shares against 1,12,43,196 shares on offer, at 15:03 IST, according to data from the BSE.

Signatureglobal Ltd IPO retail investors' portion received bids for 12,87,174 shares against 19,94,535 shares on offer for this segment. Signatureglobal IPO's non-institutional investors' portion received bids for 14,26,862 shares against 29,91,803 on offer for this segment. Signatureglobal India IPO's Qualified Institutional Buyers (QIBs) portion received bids for 4,142 shares against 62,56,858 on offer for this segment.

Signatureglobal Ltd IPO comprises 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 promter group. The total issue size is ₹730 crore. The company plans 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