Signature Global IPO: The IPO of real estate company Signature Global has closed after being subscribed 12 times. Today was the last day to invest in IPO, September 22, 203. Signature Global is going to raise a total of Rs 730 crore through IPO.
According to BSE data, if we look at the subscription of Signature Global’s IPO, the category of institutional investors (Qualified Institutional Buyers) has been subscribed 12.71 times. The company had reserved 62,56,858 shares for this category of investors while applications have been received for 7,95,08,806 shares. The category of Non-Institutional Investors has been subscribed 13.54 times. 29,91,803 shares were reserved for this category of investors and a total of 4,04,99,488 shares were received. 19,94,535 shares were reserved for Retail Individual Investors and applications have been received for a total of 1,35,96,780 shares. The category of retail investors has been subscribed 6.82 times.
Signature Global’s IPO was open from 20 to 22 September. The company had fixed the price band of IPO at Rs 366 to Rs 385 per share, the face value of which is Re 1. Signature Global has set a target of raising Rs 730 crore through IPO. Out of Rs 730 crore, Rs 603 crore is being raised by issuing fresh shares and Rs 127 crore is being raised through Offer for Sale. Signature Global has raised Rs 318.5 crore from anchor investors including Nomura.
Shares will be allotted to successful investors on 27th September. Shares will be transferred to his demat account on 3rd October. The IPO of Signature Global is expected to be listed on the stock exchange on October 4, 2023. Signature Global’s IPO is trading at a premium of Rs 30 in the gray market. That means the stock can be listed on BSE and NSE at around Rs 415. However, the listing will largely depend on the sentiment and mood of the market.
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