The subscription period for the Signature Global IPO opened on Wednesday, September 20, 2023, and ended on September 22, 2023. About ₹730 crores will be raised via the IPO by Signature Global. 10% is the retail quota, 75% is QIB, and 15% is NII. The set price range for each equity share is between ₹210 and ₹222. On September 27, 2023, the Signature Global IPO Allotment Status is anticipated. September 29, 2023, is the start date for refunds, October 3, 2023, is the credit date for shares to demat, and October 4, 2023, is the listing date.
Signature Global IPO Allotment Status
With Signature Global IPO Allotment Status a defined price range of 366 to 385 per equity share, the business is hoping to raise 730 crore via its public offering. Of these ₹730 crores, ₹603 crores are intended for new issues, while the remaining ₹127 crores are set aside for the offer for sale (OFS) route. On the grey market, shares of Signature Global Limited are offered for a premium of ₹40, and the book build issue is proposed for listing on the BSE and NSE.
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The main board issue had been subscribed 0.22 times at 02:42 PM on the first day of bidding, while its retail component had been filled 0.58 times. The Signature Global IPO Allotment Status public issue has been fully subscribed on day two of the auction, whereas the retail component has only been partially subscribed 2.55 times. While the QIB section of the public offer has obtained 62% of subscriptions, the NII portion has garnered 3.07 subscriptions.
Signature Global IPO GMP
Market watchers report that the grey market premium (GMP) for the Signature Global IPO is now ₹34, down ₹6 from its Wednesday GMP of ₹40. According to them, the decline in broad market indices and important benchmark indices on Dalal Street on Wednesday contributed to the decline in Signature Global IPO GMP.
|IPO Open||September 20, 2023|
|IPO Close||September 22, 2023|
|IPO Size||Approx ₹730 Crores|
|Fresh Issue||Approx ₹603 Crores|
|Offer for Sale||Approx ₹127 Crores|
|Face Value||₹1 Per Equity Share|
|IPO price band||₹366 to ₹385 per share|
|Basis of Allotment||September 27, 2023|
|Initiation of Refunds||September 29, 2023|
|The credit of shares to demat||October 3, 2023|
|Listing Date||October 4, 2023|
|IPO Listing on||BSE & NSE|
This was mirrored in the reaction of investors to the public offering as well, but considering the scale of the offering, it is noteworthy that the initial public offering (IPO) was able to surpass the 50% mark of its first offer on the first day of bidding. They anticipated a better reaction from investors, who often show up in large numbers on the last day of bidding.
How to check the Allotment Status of the Signature Global (India) Limited IPO?
Use the Angel One app to verify the status of your IPO allotment:
- Open the Angel One app and log in.
- Navigate to IPO Orders after visiting the IPO Section.
- Select the initial public offering (IPO) for which you applied, and then check your allocation.
- Angel One will notify you through email and push notification of your IPO allotment.
Signature Global (India) Limited IPO Objectives
The following is a list of Signature Global (India) Limited’s IPO goals:
- For the full or partial repayment of certain loans that the company has taken out.
- Its companies, Signature Global Homes, Signature Infrabuild, and Signature Global Developers, had taken out loans that needed to be paid back or prepaid.
- For general company objectives and inorganic expansion via property purchases.
Signature Global IPO Investors Portion
With an application fee of ₹14,630, the minimum market lot for the Signature Global IPO is 38 shares. Retail investors may submit applications for up to 13 lots totaling 494 shares, or ₹190,190.The investors’ portion for:
- QIB is 75%,
- NII is 15%,
- Retail is 10%.
Signature Global IPO review
As for whether or not to register for the IPO, Arun Kejriwal, the founder of Kejriwal Research and Investment Services, said that the company’s financial sheet is a bit complicated since RERA regulations prevent real estate companies from disclosing project profits until a certain point in the project’s development.
Thus, although the firm seems to be losing money at first glance, things may change over the course of the following several quarters. Thus, the only option left to individuals with a long-term perspective is to apply for the public issue.”
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