The scrip was listed at Rs 445, exhibiting a premium of 15.58% to the issue price.
So far, the stock has hit a high of 451.80 and a low of 444.10. On the BSE, over 2.03 lakh shares of the company were traded in the counter so far.
The initial public offer (IPO) of Signatureglobal (India) was subscribed 11.88 times. The issue opened for bidding on 20 September 2023 and it closed on 22 September 2023. The price band of the IPO was fixed at Rs 366-385 per share.
The offer comprised of a fresh issue and an offer for sale (OFS). The fresh issue was of Rs 603 crore out of which Rs 264 crore would be used towards re/pre-payment (in full or part) of certain borrowings availed by the company, Rs 168 crore will be used towards fund infusion in certain subsidiaries of the company for re/pre-payment (in full or part) of certain borrowings availed by the subsidiaries and the balance is towards inorganic growth through land acquisitions and general corporate purposes.
The OFS included sale of equity shares aggregating upto Rs 127 crore by International Finance Corporation (IFC), the investor selling shareholder.
On post-issue expanded equity, the holding of IFC will decline to 2.74% from 5.38% of the pre-issue equity capital.
Gross total debt of the company as of end 31 March 2023, was Rs 1,709.75 crore.
Signatureglobal (India) is a real estate development company, primarily focused on affordable and lower mid segment housing (below Rs 80 lakh housing category) in the National Capital Region of Delhi (Delhi NCR) realty market.
The company reported a consolidated net loss of Rs 63.86 crore and net sales of Rs 1,553.57 crore for the twelve months ended on 31 March 2023.
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