Signature Global to Launch IPO on September 20

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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.


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