IPO
Real estate co Signature Global's Rs.730-Cr IPO subscribed 11.9 times
The initial public offering (IPO) of Signature Global (India) Ltd, a realtor focused on the Delhi-NCR market, was subscribed 11.88 times. A total of 1,12,43,196 shares were on offer in the IPO. The portion set aside for Qualified Institutional Buyers (QIBs) was subscribed 12.71 times, receiving bids for 7,95,08,806 shares for 62,56,858 shares on offer. Non-Institutional Investors (NIIs) placed bids for 4,04,99,488 shares, subscribing their reserved portion of 29,91,803 shares by 13.54 times. Retail Investors placed bids for 1,35,96,780 shares, subscribing 6.82 times as against 19,94,535 shares reserved for them. Signature Global had set the price band of INR 366-385 per share in the IPO. Earlier, 82,72,700 equity shares of the company were subscribed by anchor investors at INR 385 apiece. The funds raised through the IPO would primarily be used to reduce debt. ICICI Securities Ltd, Axis Capital Ltd, and Kotak Mahindra Capital Company Ltd are the book running lead managers to the issue.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
