15 , September , 2023
In a major announcement, realty firm Signature Global has fixed a price band of Rs 366-385 per share for its maiden public issue and aims to raise Rs 330 crore from anchor investors. The company will open its initial public offer of equity shares of face value of Re 1 each for cash at a price per equity share (including a share premium per equity share) aggregating up to Rs 730 crore.
It will comprise a fresh issue of equity shares aggregating up to Rs 603 crore by the company and an offer for sale of equity shares aggregating up to Rs 127 crore by the International Finance Corporation as the selling shareholder.
The offer will close on Friday, September 22, 2023.The price band of the offer has been fixed at Rs 366 to Rs 385 per equity share. Bids can be made for a minimum of 38 equity shares and in multiples of 38 equity shares thereafter. ICICI Securities, Axis Capital & Kotak Mahindra Capital Company are the book running lead managers to the offer. The company's sales (net of cancellation) have grown at a compounded annual growth rate of 42.46%, from Rs 169.02 crore in fiscal 2021 to Rs 343.05 crore in fiscal 2023.SGL's investor base includes IFC and HDFC Capital Advisors who have participated in multiple rounds of capital raise undertaken by the company.