Signature Global (India) IPO to close today; check live subscription here

22 Sep 2023 , 01:52 PM

Signature Global (India) has continued to garner strong investor interest, with a subscription rate of 3.74 times recorded by 1:45 PM on day 3 of the offering.

High net worth individuals, representing non-institutional investors, as well as retail investors have displayed remarkable enthusiasm in their bidding activities. High net worth individuals have bid at a rate of 4.79 times the allotted quota, which corresponds to 15% of the offer size. Retail investors, on the other hand, have shown even greater fervor by bidding 7.21 times their allotted quota, which constitutes 10% of the total offer size.

Qualified institutional buyers have also participated actively, bidding for 1.74 times the shares reserved for them, accounting for 75% of the total issue size.

Signature Global (India), a Delhi NCR-based affordable housing company, is seeking to raise capital through a public issue amounting to Rs 730 crore. This comprises a fresh issue valued at Rs 603 crore and an offer-for-sale (OFS) worth Rs 127 crore at the upper price band. Notably, the International Finance Corporation is the sole seller in the OFS.

The price range for the offering, which will conclude on September 22, has been set at Rs 366-385 per share.