The initial public offering (IPO) of Signature Global (India) is set to open on September 20. The company aims to raise Rs 730 crore through the IPO, which will close on September 22. The IPO comprises a fresh issue of equity shares aggregating up to Rs 603 crore and an offer for the sale of equity shares aggregating up to Rs 127 crore by the International Finance Corporation as the selling shareholder. Below are the key things you should know about Signature Global (India) IPO:
The company has set a price band of the offer at Rs 366 to Rs 385 per equity share. Investors can bid for a minimum of 38 equity shares and in multiples of 38 equity shares thereafter.
ICICI Securities, Axis Capital and Kotak Mahindra Capital Company are the book-running lead managers of the offer.
Signature Global (India), a real estate development company in the National Capital Region of Delhi, is in the affordable and lower mid-segment housing in terms of units supplied (in the below Rs 80 lakh price category) between 2020 and the three months ended March 31, 2023, with a market share of 19 per cent.
The company commenced operations in 2014 through its subsidiary, Signature Builders Private Limited, with the launch of our Solera project on 6.13 acres of land in Gurugram, Haryana. It has grown its operations over the years and in less than a decade, and as of March 31, 2023, it had sold 27,965 residential and commercial units, all within the Delhi NCR region, with an aggregate saleable area of 18.90 million square feet. The company’s sales (net of cancellation) have grown at a compounded annual growth rate (CAGR) of 42.46 per cent, from Rs 1,690.27 crore in fiscal 2021 to Rs 3,430.58 crore in fiscal 2023.
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