Signature Global IPO Subscribed 100% on Day 2
The public issue of Signature Global (India) was subscribed 100% on the second day of bidding, September 21, with bids for 1.12 crore equity shares against an offer size of 1.12 crore shares. High networth individuals (HNIs) and retail investors bid aggressively, subscribing 2.16 times and 2.12 times their respective quotas, while qualified institutional buyers (QIBs) subscribed 9% of the reserved portion.
The Delhi NCR-based affordable housing company aims to raise Rs 603 crore via fresh issue and Rs 127 crore through offer-for-sale (OFS) at the upper price band of Rs 385 per share. International Finance Corporation (IFC) is the only seller in the OFS.
Signature Global has completed several real estate projects under the Deen Dayal Jan Awas Yojana (DDJAY-APHP). There are 29 ongoing and 19 forthcoming projects over 216.57 and 379.07 acres of land respectively.
The company’s revenue is primarily concentrated in Delhi NCR, Gurugram, and Haryana regions. Any supply-demand fluctuations in the region may impact the company’s operations.
The IPO is priced at a price-to-book value (P/BV) of 101.05 based on its net asset value (NAV) of Rs 3.81. The company has posted losses for the last three fiscal years.
- Signature Global’s IPO has been well-received by investors, with bids for 100% of the shares on offer on the second day of bidding.
- The company aims to raise Rs 730 crore through the IPO, which will be used to repay debt, acquire land, and for general corporate purposes.
- Signature Global has a track record of completing affordable housing projects in the Delhi NCR region.
- The company’s revenue is concentrated in a few key regions, which could make it vulnerable to supply-demand fluctuations.
- The IPO is priced at a premium to the company’s book value, given that it has posted losses for the last three fiscals.
Investors should carefully consider their risk appetite and investment objectives before investing in the IPO.
- 22 Sep
Samhi Hotels Stock Lists with 6.75% Premium, Analysts Recommend Booking Profits
Samhi Hotels stock made a weak debut on the stock exchanges, listing at a premium of just 6.75% over the IPO price. Several analysts have recommended booking profits in the stock, citing its loss-making status and negative net worth.
- 22 Sep
Signature Global IPO Subscribed 11.88 Times on Final Day
The Signature Global IPO was subscribed 11.88 times on the final day of bidding. The company will use the proceeds to repay debt and for land acquisitions and general corporate purposes. The IPO is expected to list on October 4, but this may change due to the new timeline of T+3.
- 22 Sep
Sai Silks IPO Oversubscribed 4.4 Times on Final Day of Bidding
Sai Silks IPO was oversubscribed 4.4 times on the final day of bidding, with qualified institutional buyers and high networth individuals supporting the issue on closing day. The net fresh issue proceeds will be utilized by the company mainly for the setting up of 30 new stores, two warehouses, working capital requirements and repaying debts. The trading in its equity shares will commence with effect from October 4, as per the IPO schedule.
- 22 Sep
Pharma company Valiant Laboratories to go public on September 27
Pharma company Valiant Laboratories is going public on September 27 at a price band of Rs 133-140 per share. The company plans to raise Rs 152.46 crore via the IPO. Proceeds will be used to fund the expenditure for setting up a manufacturing facility for speciality chemicals and for working capital requirements and general corporate purposes. Valiant Laboratories is a Mumbai-based API and bulk drug manufacturing company with a focus on Paracetamol. It is owned by the promoters including Dhanvallabh Ventures LLP, which holds 62.5 percent shareholding. Valiant Organics, the listed entity on the BSE and NSE, is the promoter of Dhanvallabh Ventures LLP with 73.15 percent stake.
- 21 Sep
Unihealth Consultancy makes tepid debut on NSE Emerge
Unihealth Consultancy, a healthcare service provider, made a tepid debut on the NSE Emerge platform on September 21, listing at Rs 135, a 2.2 percent premium over its issue price of Rs 132. The stock was trading at Rs 137.30 at 11.40 am. The company has a number of positives going for it, such as its strong growth potential, its diversified business model, and its focus on the African market. However, investors who are considering investing in Unihealth Consultancy should carefully consider the company's fundamentals, the current market conditions, and their own risk appetite before making a decision.