Signature Global IPO: The IPO of Signature Global, a big company related to real estate sector, is going to open on Wednesday, September 20, 2023. You can invest in this till September 22, 2023. Before the opening of the IPO, the company has collected a total of Rs 318.50 crore through anchor investors. The IPO opened for anchor investors on September 18 itself. The company has issued a total of 82,72,700 shares to anchor investors at Rs 385 per share.
How much amount will the company raise through IPO?
Signature Global has set a target of raising a total of Rs 730 crore through IPO. You can invest money in this IPO between 20 September to 22 September 2023. The company had submitted DHRP for the IPO with market regulator SEBI in July 2022. In this IPO, the company has fixed the price band at Rs 366 to Rs 385 per share. Out of these Rs 730 crore, the company is going to issue fresh shares worth Rs 603 crore and shares worth Rs 127 crore will be issued through Offer For Sale. In this IPO, the company has reserved 75 percent share for qualified institutional buyers, 15 percent share for non-institutional buyers and 10 percent share for retail investors.
When will the company’s shares be listed?
According to the news of Economic Times, the company will allot shares to subscribers on September 27. Those who will get shares, the shares will be transferred to their demat account on October 3. The listing of the company’s shares is likely to happen on October 4, 2023.
Where will the company use the IPO funds?
The company will use most of the total Rs 603 crore raised through IPO to repay its debt. Talking about the performance of the company, despite earning a total of Rs 1,585.80 crore till March 2023, it has suffered a total loss of Rs 63.70 crore.
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