Signatureglobal IPO subscribed 11.88 times on Day 3
Signatureglobal IPO allotment date: The basis of the allotment of shares is set to be finalised on September 27, and the credit of shares to the demat accounts of successful bidders on October 3.
Signatureglobal IPO: Realty developer Signatureglobal launched an initial public offer (IPO) on Wednesday, September 20, to raise up to Rs 730 crore. The public offer comprises fresh issuance of shares worth up to Rs 603 crore, and an offer for sale (OFS) worth up to Rs 127 crore by promoters and existing shareholders.
Signatureglobal IPO subscription status
On day 3, final day of the bidding process, the Signature Global was subscribed 11.88 times, with bids for 13,36,05,074 shares in place against the 1,12,43,196 shares on offer, according to provisional exchange data.
|Subscription (No. of times the equity reserved)
|Qualified institutional buyers
|Source: Exchange data
While 75 per cent of the total issue is reserved for qualified institutional buyers (QIBs), 15 per cent of it is set aside for non-institutional investors, and the rest 10 per cent for retail investors.
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Here are a few important details to know about the Signatureglobal (India) IPO:
Signatureglobal IPO allotment date, Signature Global IPO listing date
The IPO opened for subscription on Wednesday, September 20, and will close on Friday, September 22. The basis of the allotment of shares is set to be finalised on September 27, and the credit of shares to the demat accounts of successful bidders on October 3. Signatureglobal shares are likely to be listed on bourses BSE and NSE on October 4.
Signature Global IPO price band
Under the IPO, potential investors can bid for Signatureglobal shares in a price band of Rs 366-385 apiece in multiples of 38 shares, translating to Rs 13,908-14,630 per lot.
Signature Global IPO: Fund Utilisation
The company plans to utilize the proceeds from the fresh issuance mainly for debt reduction and business expansion, and for inorganic growth through land acquisitions, and general corporate purposes, according to the company’s red herring prospectus (RHP).
Signatureglobal anchor investors
Ahead of the launch of the IPO, Signatureglobal raised Rs 318.5 crore from anchor investors including Nomura, by allocating shares at Rs 385 per share.
What does Singature Global do?
Signature Global, which focuses on the affordable housing and mid-income housing segments, has a strong presence in the Delhi-National Capital Region (NCR).
(With inputs from PTI)