Signature Global IPO Opens for Subscription

Signature Global IPO Opens for Subscription

VoM News Desk | September 20, 2023 | 06:08 AM IST | Breaking News | Follow on Google News

Signature Global IPO Opens for Subscription

The initial public offering (IPO) of Signature Global Limited has opened for subscription and will remain open until September 22, 2023. The company aims to raise ₹730 crore from this public offer, with ₹603 crore coming from fresh issues and ₹127 crore from the offer for sale (OFS) route.

Key Details of the Signature Global IPO:

1. Price Band: The price band for the IPO is set at ₹366 to ₹385.5 per equity share.
2. Grey Market Premium (GMP): Shares of the company are available at ₹40 in the grey market, which is ₹6 higher than the previous day’s GMP of ₹34.
3. IPO Lot Size: One lot of the public offer comprises 38 company shares.
4. Minimum Investment: A retail investor requires a minimum of ₹14,630 (₹385 x 38) to apply for one lot of the IPO.
5. Allotment Date: The announcement of share allocation is expected on September 27, 2023.
6. IPO Registrar: Link Intime India Private Ltd has been appointed as the official registrar of the IPO.
7. Listing Date: The book build issue is proposed for listing on BSE and NSE, with the expected listing date on October 4, 2023.

Expert Opinion on Signature Global IPO:

Arun Kejriwal, Founder at Kejriwal Research and Investment Services, suggests that the balance sheet of the company may appear tricky due to RERA regulations that restrict a real estate company from recognizing income from a project until a particular stage is reached. Therefore, the company might appear to be in a loss on its balance sheet, but the reality could be different in the coming quarters. Kejriwal recommends that only those with a long-term view should consider applying for the IPO.

Investors should carefully evaluate the IPO’s fundamentals, business prospects, and market conditions before making investment decisions related to the Signature Global IPO.

VoM News Desk

VoM News is an online web portal in jammu Kashmir offers regional, National & global news.