Dedicated locality research platform
Enter your email address and you will receive
a link to reset your password
The final day of the Signature Global (India) Initial Public Offering (IPO) witnessed a remarkable surge in investor interest, leading to a subscription rate of 11.88 times. Enthusiastic participation from institutional investors, reflecting strong confidence in the company's prospects, bolstered this exceptional response. According to data from the National Stock Exchange (NSE), the public offering received bids for an astounding 13,36,05,074 shares, a substantial contrast to the 1,12,43,196 shares on offer. Noteworthy is the significant strength displayed in the non-institutional investors' segment, achieving a subscription rate of 13.54 times.
Equally impressive was the response from the Qualified Institutional Buyers (QIBs) category, which registered a subscription rate of 12.71 times. Even the Retail Individual Investors (RIIs) category, often indicative of broader market sentiment, garnered substantial interest, boasting a subscription rate of 6.82 times. This surge in investor enthusiasm follows a notable start, with the IPO initially witnessing a subscription rate of 1.61 times on the second day of bidding. The IPO, with a total size of up to Rs 730 crore, encompasses a fresh issue of shares valued at up to Rs 603 crore and an Offer for Sale (OFS) amounting to up to Rs 127 crore.
Ahead of the IPO, Signature Global, headquartered in Delhi-NCR, successfully raised Rs 318.5 crore from anchor investors, including the reputable Nomura. The backing of HDFC Capital and IFC further bolstered the company's position. This IPO journey commenced with the filing of the Draft Red Herring Prospectus (DRHP) with the capital markets regulator, Sebi, in July of the preceding year, setting the stage for its compelling narrative. The recently filed Red Herring Prospectus (RHP) outlines the allocation of a substantial portion of the proceeds to debt reduction.
Signature Global's Chairman, Pradeep Aggarwal, revealed that their net debt stood at approximately Rs 1,100 crore at the close of the previous fiscal year. From the IPO proceeds, they intend to channel Rs 432 crore towards debt reduction. The residual funds will be earmarked for strategic land acquisitions and general corporate requirements. At present, the promoter group maintains a 78.35 percent stake in the company. Post-listing, this stake is expected to diminish to approximately 69–70 percent. Signature Global, with its niche focus on affordable and mid-income housing segments, delivered commendable sales bookings worth Rs 2,590 crore in the preceding fiscal year.
The inception of Signature Global dates back to 2014. As of March 31, 2023, the company has proudly sold 27,965 residential and commercial units, all within the Delhi-NCR region. This translates to an impressive aggregate saleable area spanning 18.90 million square feet. Steering the IPO with expertise were renowned entities such as ICICI Securities, Axis Capital, and Kotak Mahindra Capital Company, all acting as managers to the offer. The culmination of these endeavours signifies not only a successful public offering but also a testament to the company's enduring commitment to excellence and growth in the real estate sector.
Propscience is India’s dedicated property news portal. We cover the latest events, news, trends, deals, new launches and more.
All our services and tools are completely free of cost and available 24X7!
We use cookies to give you the best possible service while using our website, please click accept and carry on browsing if you're happy with this. For more information see our Privacy Policy.
Okay, Got it!This disclaimer ("Disclaimer") is applicable to the entire Site. Upon entering the Site it is recommended that you immediately read the Terms and Conditions and Privacy Policy listed therein. Your continued usage of this Site will indicate your unconditional acceptance of the said Terms and Conditions and Privacy Policy. You hereby agree that Propscience reserves the right to modify at any time, the Terms and Conditions and Privacy Policy governing this Site without prior notification. Your usage of the Site implies that you will be bound by any such modification. You agree and acknowledge that it is your responsibility to periodically visit the Site and stay updated with the Terms and Conditions and Privacy Policy of the Website.
The information contained in this Site has been provided by Propscience for information purposes only. This information does not constitute legal, professional or commercial advice. Communication, content and material within the Site may include photographs and conceptual representations of projects under development. All computer-generated images shown on the Site are only indicative of actual designs and are sourced from third party sites.
The information on this Site may contain certain technical inaccuracies and typographical errors. Any errors or omissions brought to the attention of Propscience will be corrected as soon as possible. The content of this Site is being constantly modified to meet the terms, stipulations and recommendations of the Real Estate Regulation Act, 2016 ("RERA") and rules made thereunder and may vary from the content available as of date. All content may be updated from time to time and may at times be out of date. Propscience accepts no responsibility for keeping the information in this website up to date or any liability whatsoever for any failure to do so.
While every care has been taken to ensure that the content is useful, reliable and accurate, all content and information on the Site is provided on an "as is" and "as available" basis. Propscience does not accept any responsibility or liability with regard to the content, accuracy, legality and reliability of the information provided herein, or, for any loss or damage caused arising directly or indirectly in connection with reliance on the use of such information. No information given under this Site creates a warranty or expands the scope of any warranty that cannot be disclaimed under applicable law.
This Site provides links to other websites owned by third parties. Any reference or mention to third party websites, projects or services is for purely informational purposes only. This information does not constitute either an endorsement or a recommendation. Propscience accepts no responsibility for the content, reliability and information provided on these third-party websites. Propscience will not be held liable for any personal information of data collected by these third parties or for any virus or destructive properties that may be present on these third-party sites.
Your use of the Site is solely at your own risk. You agree and acknowledge that you are solely responsible for any action you take based upon this content and that Propscience is not liable for the same. All details regarding a project/property provided on this Site are updated on the basis of information available from the respective developers/owners/promoters. All such information will not be construed as an advertisement. To find out more about a project / development, please register/contact us to visit the site you are interested in. All decisions taken by you in this regard will be taken independently and Propscience will not be liable for any such loss in connection with the same. This Site is for guidance only. Your use of this Site - including any suggestions set out in the Site and or any use of the resources available on this Site, do not create any professional - client relationship between you and Propscience. Propscience cannot accept you as a client until certain formalities and requirements are met.
We use cookies to give you the best possible service while using our website, please accept it and continue browsing if you're happy with this. For more information see our Privacy Policy