Signature Global (India) sets IPO price band at Rs 366-385/share

New Delhi: Realty firm Signature Global (India) Ltd on Thursday said it has fixed a price band of Rs 366-385 per share for its Rs 730-crore initial public offering (IPO).

The issue will hit the capital markets for public subscription on September 20 and will close on September 22. Investors can bid for a minimum of 38 equity shares and in multiples of 38 equity shares thereafter, the company said.

The total size of the IPO is up to Rs 730 crore, comprising fresh issue of shares up to Rs 603 crore and offer-for-sale of up to Rs 127 crore by the International Finance Corporation as a selling shareholder.

The bidding for the anchor investors will open on September 18.

Signature Global started operations in 2014 through its subsidiary Signature Builders Pvt Ltd with the launch of 'Solera' project on 6.13 acres of land in Gurugram, Haryana.

As of March 31, 2023, it had sold 27,965 residential and commercial units, all within the Delhi-NCR region, with an aggregate saleable area of 18.90 million square feet.

The company's sales (net of cancellation) have grown at a compounded annual growth rate (CAGR) of 42.46 per cent, from Rs 1,690.27 crore in fiscal 2021, to Rs 3,430 crore in fiscal 2023.

As of March 31, 2023, it had sold 25,089 residential units with an average selling price of Rs 36 lakh per unit.

ICICI Securities Ltd, Axis Capital Ltd and Kotak Mahindra Capital Company Ltd are the book-running lead managers to the issue.

The equity shares of the company will be listed on the BSE and NSE.