Signature Global to Launch IPO on September 20

| Leave a Comment | IPO

Signature Global, an NCR-based real estate company catering to affordable and mid-priced housing, is set to launch its initial public offering (IPO) on September 20. The company has a fresh issue of ₹603 crore and an offer-for-sale of ₹127 crore from the International Finance Corporation (IFC). The price band is set at ₹366–₹385 per share. The issue will close on September 22.

The company’s sales were at ₹3,430.6 crore in FY23, growing at a compound annual growth rate (CAGR) of 42% between FY21 and FY23. It currently has ongoing projects for 2.13 crore sq.ft. of developable area and forthcoming projects for 2.45 crore sq.ft. of developable area.

Signature Global is yet to become profitable, making a loss of ₹56 crore in FY23. However, some of its projects are making profits, said Chief Executive Officer Rajat Kathuria.

Post-listing, the promoter shareholding will be around 70%. Currently, the promoter shareholding is at 78% of the total shareholding. No promoter is selling their stakes in the company.

The company is targeting to raise ₹730 crore through the IPO, which will be used to fund its ongoing and upcoming projects. The IPO is being managed by Kotak Mahindra Capital Company, JM Financial, and Axis Capital.

Signature Global is confident of achieving its target of becoming among the top-five real estate players in India in the next few years. The management said that they are well-positioned to capitalize on the growing demand for affordable and mid-priced housing in India.

The company has a strong track record of execution, with a portfolio of over 100 projects across NCR, Pune, and Bengaluru. It has a team of over 1,000 professionals and is committed to providing quality homes to its customers.

The IPO is expected to be well-received by investors, given the company’s strong fundamentals and growth potential.


Related News

  • 20 Sep

    Sai Silks Kalamandir’s IPO subscribed just 7% on the first day

    Sai Silks Kalamandir's IPO subscribed just 7% on the first day of bidding, with retail investors and high net-worth individuals showing decent support, but qualified institutional buyers (QIBs) being lukewarm. The company aims to raise Rs 1,201 crore through its public issue, comprising a fresh issue of Rs 600 crore and an offer-for-sale (OFS) of Rs 601 crore by the promoter group. The price band for the offer has been fixed at Rs 210-222 per share. The net fresh issue proceeds will be used mainly for setting up new stores, building warehouses and working capital requirements. The company has a network of 54 outlets in Andhra Pradesh, Telangana, Karnataka and Tamil Nadu.

  • 20 Sep

    Yatra Online IPO subscribed 1.61 times, but aggressive pricing may have dampened demand

    Yatra Online's IPO subscribed 1.61 times on the final day of bidding, with retail investors providing decent support. However, QIBs and HNIs were less enthusiastic, possibly due to the aggressive pricing of the issue. Some brokerages remain positive on the company from a medium-to-long-term perspective, but investors should carefully consider the company's fundamentals, valuation, and risk factors before making an investment decision.

  • 20 Sep

    Pharma Company Valiant Laboratories to Launch IPO on September 27

    Pharma company Valiant Laboratories is launching its maiden public issue on September 27, 2023. The IPO will comprise only a fresh issue of 1.09 crore equity shares by the company and there will be no offer-for-sale portion in the issue. The net proceeds from the IPO will be used to set up a manufacturing facility for specialty chemicals in Bharuch, Gujarat and for general corporate purposes. The company recorded a profit of Rs 29 crore for the year ended March FY23, up by 5.5 percent from previous year, and the revenue from operations increased by 14.5 percent to Rs 333.9 crore during the same period. Valiant Laboratories' shares are expected to make their debut on the BSE and NSE on October 9, 2023.

  • 20 Sep

    Signature Global IPO: Key Details, Analyst Views, and Risks

    Signature Global (India), the largest real estate development company in the Delhi NCR region in affordable and lower mid-segment housing, is launching its IPO on September 20, 2023. The company plans to raise Rs 730 crore through the IPO, which will be listed on both the NSE and BSE. Analysts are divided on the Signature Global IPO. Some analysts believe that the company is well-positioned in the affordable and lower mid-segment housing market, while others are concerned about the company's net loss, negative net worth, and dependence on the real estate market in the Delhi- NCR region.

  • 20 Sep

    EMS Limited: A Good Investment Opportunity for Professional Investors

    EMS Limited, a water and wastewater management company, is expected to list strongly on September 21. The company's IPO was subscribed 75.28 times, driven by strong demand from qualified institutional buyers, high networth individuals, and retail investors. EMS has a proven track record of successful project execution and a strong order book. It also has a healthy financial position. Analysts are positive on the company and advise investors who are allotted shares to hold them from a medium to long term perspective. Professional investors should carefully consider the company's strong fundamentals and long-term growth outlook before making an investment decision.

Leave a Reply

Your email address will not be published. Required fields are marked *