Signature Global IPO did big business in the market on the first day, raised Rs 318.5 crore from anchor investors
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Signature Global IPO: Signature Global’s IPO is getting very good response in the market. The company has earned around Rs 318 crore from its anchor investors. However, the company’s IPO is going to open for retail sale from Wednesday. Due to Ganesh Chaturthi holiday on Tuesday, the company has decided to open its IPO for anchor investors on Monday and for general investors on Wednesday. In the information given to the stock market, Signature Global said that 82,72,700 equity shares were subscribed under the share of Anchor Investors (AI) in the public issue. Nomura Trust and Banking Company Limited bought the maximum 18,70,094 shares. The IPO includes Rs 603 crore of new shares and Rs 127 crore of equity shares of International Finance Corporation under the offer for sale.
Price range fixed at Rs 366-385 per share for IPO
Realty company Signature Global (India) Limited had fixed its share price last Thursday. The company said it has raised its Rs 730 crore initial public offering (IPO) has fixed the price range of Rs 366-385 per share. According to the statement issued by the company, the IPO will open on September 20 and close on September 22. The IPO includes Rs 603 crore of new shares and Rs 127 crore of equity shares of International Finance Corporation under the offer for sale.
Signature Global’s sales bookings increased by 32 percent to Rs 3,430 crore
Real estate company Signature Global recorded sales bookings of Rs 3,430.58 crore last financial year, up 32 per cent on the back of strong housing demand. The company will issue its first initial public offering (IPO) on Wednesday. Gurugram-based Signature Global primarily operates in the affordable and middle-income housing segment. The company had recorded sales bookings of Rs 2,590 crore in the financial year 2021-22. On the basis of operational performance, Signature Global’s collections from customers increased to Rs 1,920 crore in the last financial year, from Rs 1,282.14 crore in the previous financial year. The company, backed by HDFC Capital and IFC, will hit the capital market with its IPO on September 20 to raise Rs 730 crore. The IPO will close on 22 September. Signature Global Chief Executive Officer (CEO) Rajat Kathuria said that the company has proposed to raise up to Rs 330 crore from anchor investors. At present the promoter group holds 78.35 percent stake in the company. After listing, their stake in the company will come down to around 69-70 percent.
what is ipo
Full name of IPO Initial Public Offering Is. It is a financial process in which a private company decides to issue an offer of its stock to investors in the open market. This is the first time for the company when it goes to sell its shares in the open market. When a company issues an IPO, it publicizes its shares and gives investors the opportunity to buy its shares. Through IPO, the company makes its stock available to investors through public and news media so that they can buy it. Through IPO, the company mostly tries to attract new investors for its stock and through this the company collects most of the capital to fulfill its development and financial plans. This is an attractive option for investors because it offers them the opportunity to own a public company.
How to invest in IPO
Before investing in IPO, understand the related documents completely. Investing in this is risky. In such a situation, take help from a financial advisor. To subscribe to an IPO, you must have a demat account. If you do not have one, you can approach a registered stockbroker or Depository Participant (DP) to open a Demat account. Next, choose a registered stockbroker that offers IPO services. You can do this through online trading platforms or by visiting the broker’s office in person. Stay updated with IPO announcements and their details. Information about upcoming IPOs is usually available on the websites of stock exchanges, financial newspapers and the official website of the company issuing the IPO. Once you have selected an IPO that you want to subscribe to, you can apply online or offline.
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