Signature Global raised Rs 318.5 crore from Anchor Investors, company's IPO is coming into the market tomorrow
Real estate company Signature Global said in a regulatory filing that it has raised Rs 318.5 crore from anchor investors including Nomura. The company is going to launch its IPO in the market tomorrow. Signature Global's sales have increased by 32 percent in the last financial year. The company said that due to strong demand, there has been an increase in sales.
Realty firm Signature Global is going to launch its Initial Public Offer (IPO) in the market tomorrow on Wednesday, 20th September.
A day before this, i.e. today, Signature Global informed in its regulatory filing that it has raised Rs 318.5 crore from anchor investors including Nomura.
In a regulatory filing, Signature Global said it has subscribed for 82,72,700 equity shares at Rs 385 per equity share, under the Anchor Investors portion in the IPO.
Nomura Trust and Banking Co Ltd bought a maximum of 18,70,094 shares. Apart from this, Kotak Mahindra Trustee Company Limited, Kotak India EQ Contra Fund, Quant Mutual Fund, Nippon India Equity Opportunities AIF, Bandhan Core Equity Fund, Morgan Stanley Asia, Societe Generale, BNP Paribas Arbitrage and Goldman Sachs Singapore are other major investors.
The lead managers of Signature Global IPO are HDFC Capital and IFC which will raise Rs 730 crore from the market on September 20. This IPO offer of Signature Global will be open from the 20th to the 22nd of September.
In July last year, Signature Global filed a draft red herring prospectus (DRHP) with capital markets regulator SEBI to launch its IPO. The company has fixed the price band of the IPO at Rs 366-385 per share.
The total size of the IPO is up to Rs 730 crore, which includes fresh issue of shares up to Rs 603 crore and OFS of up to Rs 127 crore. The company will use a major part of the money raised from this IPO to reduce its debt.
In the last financial year i.e. FY 23, the company had seen a growth of 32 percent in its sales bookings due to which the company earned Rs 3,430.58 crore. The increase in sales has been seen due to strong housing demand.