- By Vaamanaa Sethi
- Wed, 27 Sep 2023 10:53 AM (IST)
- Source:JND
Signature Global shares listed on Indian bourses on September 27, Wednesday. Signature Global shares listed at Rs 445 per piece on BSE, at a premium of 15.58 over the issue price of Rs 385 per share. Meanwhile, the shares were listed at Rs 444 per piece, premium of 15.32% on NSE.
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The Rs 730 crore worth IPO was open for subscription on September 20 and closed for bidding on September 22.
The IPO was subscribed 11.88 times overall. The retail investors' portion was booked 6.82 times, Non-Institutional Investors' (NII) portion was subscribed 13.54 times, and Qualified Institutional Buyers' (QIB) quota was booked 12.71 times.
Signature Global IPO total issue size was Rs 730 crore, comprising a fresh issuance of 15,662,338 shares totalling to ₹603 crore worth of shares and an offer for sale (OFS) of up to 3,298,701 equity shares aggregating to ₹127 crore by promoter and promoter group.
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The company had fixed the price band of the offer at ₹366 to ₹385 per share. It proposed to utilize the net proceeds from the offering to pay off or prepay, in full or in part, a number of borrowings that it has taken out; to inject money into a number of its subsidiaries, including Sternal Buildcon, Signatureglobal Homes, Signatureglobal Developers, Signatureglobal Business Park, and Signatureglobal Homes, to pay off or prepay a number of borrowings that those subsidiaries have taken out; and to grow inorganically through acquisitions.
ICICI Securities Ltd, Axis Capital Ltd, and Kotak Mahindra Capital Company Ltd were the book running lead managers to the offer. Link Intime India Pvt Ltd was the IPO registrar.