Signature Global (India) made a strong stock market debut, with its shares closing 19 percent above the issue price of Rs 385. The stock opened at Rs 445 on the BSE, marking a 15.58 percent rise from the issue price, and reached an intraday high of Rs 473.45, ultimately closing at Rs 458.40, a 19.06 percent gain. On the NSE, it started at Rs 444, rising 15.32 percent, and ended at Rs 456.55, up 18.58 percent. This debut led to a market valuation of Rs 6,441.01 crore. The IPO, worth Rs 730 crore, was subscribed to 11.88 times, demonstrating strong institutional investor interest.
Signature Global (India) witnessed a remarkable debut in the stock market, with its shares closing on the first trading day at a substantial 19 percent premium over the issue price of Rs 385. The stock's opening price on the BSE was Rs 445, signifying a 15.58 percent jump from the issue price. In intraday trading, it surged to an impressive 22.97 percent, reaching Rs 473.45, before eventually settling at Rs 458.40, marking a substantial 19.06 percent increase.
The NSE also experienced a strong debut, with the stock commencing trading at Rs 444, an impressive 15.32 percent higher than the issue price. It concluded the trading session at Rs 456.55, recording an 18.58 percent gain. This remarkable performance translated into a market valuation of Rs 6,441.01 crore for the company. Notably, the BSE witnessed 4.08 lakh shares of the company being traded, while the NSE recorded a staggering 1.43 crore shares changing hands during the day.
Signature Global (India) had conducted a robust initial public offer (IPO) worth Rs 730 crore, which garnered significant attention from institutional investors. The IPO's size included a fresh issue of shares valued at up to Rs 603 crore and an Offer for Sale (OFS) of up to Rs 127 crore. The offer price was set in the range of Rs. 366-385 per share.
In the preceding fiscal year, Signature Global achieved sales bookings totalling Rs 2,590 crore, highlighting its strong performance in the real estate sector. Signature Global commenced its operations in 2014, and as of March 31, 2023, it had successfully sold 27,965 residential and commercial units, all within Delhi-NCR. These units collectively represent an impressive saleable area of 18.90 million square feet.
ICICI Securities, Kotak Mahindra Capital Company, and Axis Capital managed the IPO, while Link Intime India served as the registrar. Signature Global also successfully raised Rs 318.5 crore from 19 anchor investors, further emphasizing the confidence and interest in the company. Signature Global's debut performance underscores its potential and the investor community's confidence in its future prospects, particularly within the affordable housing segment. This successful listing positions the company for further growth and expansion in the dynamic Indian real estate market.
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