Signature Global IPO News Update: Real estate company Signature Global is preparing to bring IPO (Intial Public Offering). The company has filed a draft paper (DRHP) with the stock market regulator SEBI to bring the IPO. Signature Global is set to raise Rs 1,000 crore from the market through IPO. According to the information given in the draft paper, in the Rs 1,000 crore IPO, Rs 750 crore will be raised through fresh issue and Rs 250 crore will be raised through offer for sale.
Gurugram based real estate company Signature is present in the global affordable and mid housing segment and has a market share of around 19 per cent. As of March 2022, Signature Global has sold 23,453 residential and commercial units in the Delhi NCR region. In which the company has sold 21,478 residential units at an average price of Rs 28.1 lakh. With the money raised through the IPO, the company will pay off the outstanding debt as well as spend on land acquisition and corporate needs. The fund will also be used by the company to pay off the outstanding debt on its subsidiary company.
In the offer for sale, both the company’s promoter Sarvpriya Securities and investor International Finance Corporation will sell shares worth Rs 125 crore. If we look at the sales of the company, the company’s sales in 2020-21 was Rs 440.57 crore, which has increased to Rs 2,590.22 crore in 2021-22. Kotak Mahindra Capital Company, ICICI Securities and Axis Capital are the leader managers of this IPO.