Signature Global IPO Opens for Subscription
New Delhi: The Signature Global initial public offer (IPO) became available for subscription on September 20, 2023. Investors can bid on this IPO until September 22, 2023. The real estate company aims to raise Rs 730 crore through this IPO, with the funds intended for debt reduction and business expansion. Signature Global (India) Limited, a real estate development company, primarily operates in the National Capital Region of Delhi.
Price Band and Lot Size
The price band for the Signature Global IPO has been set at Rs 366-385 per share. Investors can bid for a minimum lot size of 38 shares, and retail investors can apply for a lot priced at Rs 14,630. The IPO consists of a fresh issue of shares valued at up to Rs 603 crore and an offer for sale (OFS) of up to Rs 127 crore.
Grey Market Premium (GMP)
The Grey Market Premium (GMP) for the Signature Global IPO is Rs 40. This indicates that the shares of the real estate company are trading at Rs 40 in the grey market at present.
Allotment and Listing Dates
Shares allotted to successful investors in the Signature Global IPO will be credited on September 27, 2023. Refunds for unsuccessful bidders will commence on September 29, 2023. Eligible investors can expect the shares to be credited to their demat accounts on October 3, 2023. The shares of Signature Global are set to be listed on October 4, 2023.
Anchor Investors Show Interest
Prior to the IPO subscription, Signature Global successfully raised Rs 318.5 crore from anchor investors. The company confirmed that it allocated 82,72,700 equity shares to anchor investors at a price of Rs 385 per share for the Anchor Investors (AIs) portion in the public issue.
Notably, Nomura Trust and Banking Co Ltd purchased the highest number of shares at 18,70,094.
List of Anchor Investors
The list of anchor investors includes:
- Kotak Mahindra Trustee Co Ltd
- Kotak India EoQ Contra Fund
- Morgan Stanley Asia
- Nippon India Equity Opportunities AIF
- BNP Paribas Arbitrage
- Bandhan Core Equity Fund
- Quant Mutual Fund
- Societe Generale
- Goldman Sachs Singapore
The book running lead managers for the Signature Global India IPO are ICICI Securities Limited, Axis Capital Limited, and Kotak Mahindra Capital Company Limited.