Signature Global shares list at premium of around 16% per cent over issue price

Signature Global share price NSE: Shares of Signature Global (India), a Delhi-NCR-based real estate developer, on Wednesday listed with a premium of nearly 16 per cent against the issue price of Rs 385. The scrip made its debut at Rs 444, up 15.32 per cent from the issue price on the National Stock Exchange (NSE). Later, it jumped 18 per cent to Rs 454.40. Last seen, the scrip was trading at Rs 450.60 on the NSE.

On the Bombay Stock Exchange, the scrip listed at Rs 445, registering a jump of 15.58 per cent. The company commanded a market valuation of Rs 6,280.83 crore.

The Rs 730 crore-Initial Public Offer (IPO) of Signature Global (India) was subscribed 11.88 times on the final day of subscription on Friday, helped by encouraging participation from institutional investors.

The total size of the IPO was up to Rs 730 crore, with a fresh issue of shares worth up to Rs 603 crore and an Offer for Sale (OFS) of up to Rs 127 crore.

The price band for the offer was Rs 366-385 per share.

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Delhi-NCR-based Signature Global -- backed by HDFC Capital and IFC -- had in July last year filed the Draft Red Herring Prospectus (DRHP) with capital markets regulator Sebi to launch its IPO.

Signature Global, which focuses on the affordable and mid-income housing segment, had clocked Rs 2,590 crore worth of sales bookings in the preceding fiscal. The company commenced operations in 2014.

As of March 31, 2023, it has sold 27,965 residential and commercial units, all within Delhi-NCR, with an aggregate saleable area of 18.90 million square feet.

With PTI inputs