Signatureglobal India IPO subscribed over 11 times on day 3; retail portion fully booked

Signatureglobal India IPO subscription status: Signatureglobal Ltd IPO has been subscribed 11.88 times on day 3. Signatureglobal IPO opened for subscription on Wednesday, September 20, and will close today (Friday, September 22). The company has fixed price band of the public offer at ₹366 to ₹385. Bids can be made for a minimum of 38 equity shares and in multiples of 38 equity shares thereafter.

Signatureglobal IPO's retail investors portion was subscribed 6.82 times, NII portion was subscribed 13.54 times, and Qualified Institutional Buyers (QIB) portion was subscribed 12.71 times. 

Signatureglobal India IPO subscription status

Signatureglobal IPO has received bids for 13,36,05,074 shares against 1,12,43,196 shares on offer, according to data from the BSE.

Signatureglobal Ltd IPO retail investors' portion received bids for 1,35,96,780 shares against 19,94,535 shares on offer for this segment.

Signatureglobal IPO's non-institutional investors' portion received bids for 4,04,99,488 shares against 29,91,803 on offer for this segment.

Signatureglobal India IPO's Qualified Institutional Buyers (QIBs) portion received bids for 7,95,08,806 shares against 62,56,858 on offer for this segment.

Signatureglobal Ltd IPO was subscribed 54% on day 1, and was subscribed 1.62 times on day 2. 

Also Read: Signature Global IPO: GMP, subscription status, other details. Apply or not?

Signatureglobal India IPO details

Signatureglobal Ltd IPO comprises a fresh issuance of 15,662,338 shares totalling to ₹603 crore worth of shares and an offer for sale (OFS) of up to 3,298,701 equity shares aggregating to ₹127 crore by promoter and promter group. The total issue size is ₹730 crore.

The company plans to use the net proceeds from the offering to pay off or prepay, in full or in part, a number of borrowings that it has taken out; to inject money into a number of its subsidiaries, including Sternal Buildcon, Signatureglobal Homes, Signatureglobal Developers, Signatureglobal Business Park, and Signatureglobal Homes, to pay off or prepay a number of borrowings that those subsidiaries have taken out; and to grow inorganically through acquisitions.

ICICI Securities Ltd, Axis Capital Ltd, and Kotak Mahindra Capital Company Ltd are the book running lead managers to the offer. Link Intime India Pvt Ltd is the offer's registrar.

Signatureglobal India Limited IPO GMP today

Signatureglobal IPO GMP today or grey market premium is +33 similar to the previous trading session. This indicates Signature global share price were trading at a premium of ₹33 in the grey market on Friday, according to topsharebrokers.com

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Signature global share price is ₹418 apiece, which is 8.57% higher than the IPO price of ₹385.

'Grey market premium' indicates investors' readiness to pay more than the issue price.