Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Signature Global IPO Booked 54% on Day One, Retail Portion Subscribed 89%

20 Sep 2023 , 07:55 PM

On the first day of bidding, Signature Global India’s public issue garnered a respectable response from investors, contrasting favorably with Sai Silks (Kalamandir), which witnessed only a 7% subscription. Both of these public offerings opened on September 20, despite representing different industries. Click here to subscribe the IPO.

The initial public offering of Signature Global India received a subscription rate of 54%, with bids placed for 60.4 lakh equity shares against an IPO size of 1.12 crore equity shares, based on the subscription data available from the exchanges.

Retail investors displayed strong interest, acquiring 89% of the allotted quota, which accounts for 10% of the total offer size. In contrast, high-net-worth individuals (non-institutional investors) exhibited enthusiasm on the debut day, subscribing at 1.42 times the reserved portion, which represents 15% of the IPO size.

Qualified institutional investors (QIB) subscribed to only 0.1% of the shares allocated for them.

Signature Global India aims to raise Rs 730 crore through the public issue, with the upper end of the price band set at Rs 366-385 per share. The offering includes a fresh issue of shares valued at Rs 603 crore and an offer-for-sale of 32.98 lakh shares worth Rs 127 crore by the International Finance Corporation (IFC). Notably, IFC holds a 5.38% stake, equivalent to 67.14 lakh shares, in the company.

The company plans to utilize the net fresh issue proceeds for various purposes, including repaying its own debt of Rs 264 crore and settling debts of its four subsidiaries amounting to Rs 168 crore. The remaining funds will be allocated for inorganic growth opportunities through land acquisitions and general corporate purposes.

Signature Global IPO

Related Tags

  • Signature Global IPO
  • Signature Global ipo details
  • Signature Global IPO gmp
  • Signature Global IPO gmp today
  • Signature Global IPO live subscriptio
  • Signature Global IPO opening date
  • Signature Global IPO subscription status
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More

Most Read News

Vishal Mega Mart IPO Subscribed Completely
12 Dec 2024|03:21 PM
MobiKwik IPO Oversubscribed 15 Times
12 Dec 2024|03:14 PM
Sensex and Nifty in Red on December 12, 2024
12 Dec 2024|02:07 PM
Read More
Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2024, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Securities Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

plus
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp