IPO screener: Signatureglobal issue closes today

Today is the last day to subscribe the public offer of Signatureglobal. The ₹730-croreinitial public offering of realty firm was subscribed 1.61 times at the end of the second day of bidding on Thursday. The price band for the offer has been fixed at ₹366-385. The minimum lot size for an application is 38 shares.

The total size of the IPO is up to ₹730 crore, comprising a fresh issue of shares worth up to ₹603 crore and an Offer for Sale (OFS) of up to ₹127 crore. Through OFS, International Finance Corporation will be selling its shares partly.

Also Read | IPO screener: Signatureglobal subscribed 54% on Day 1

The IPO received bids for 1.81 crore shares against 1.12 crore shares on offer. The portion for non-institutional investors was subscribed 3.06 times and the category for Retail Individual Investors (RIIs) got 2.53 per cent subscription. Qualified Institutional Buyers portion received bids for 62 per cent.

Delhi-NCR-based Signatureglobal had raised ₹318.5 crore from anchor investors, by deciding to allot 82,72,700 shares at ₹385 a share. The Nomura Trust and Banking Co Ltd, Kotak Mahindra Trustee Co Ltd, Kotak India EQ Contra Fund, Quant Mutual Fund, Nippon India Equity Opportunities AIF, Bandhan Core Equity Fund, Morgan Stanley Asia, Societe Generale, BNP Paribas Arbitrage and Goldman Sachs Singapore are among the major anchor investors.

Signatureglobal — backed by HDFC Capital and IFC — said ₹432 crore will be used to reduce debt. The balance fund will be used for inorganic growth through land acquisitions and general corporate purposes.

Also Read | IPO-bound Signature Global raises ₹318.5 crore from anchor investors

Signatureglobal, which focuses on the affordable and mid-income housing segment, had clocked ₹2,590 crore worth of sales bookings in the preceding fiscal.

ICICI Securities, Axis Capital and Kotak Mahindra Capital Company are the managers to the offer.