SignatureGlobal (India) IPO To Open On September 20, Fixes Price Band From Rs 366-385 Per Share

Leading real estate developer in the National Capital Region of Delhi, SignatureGlobal (India) is set to open its Rs 730 crore initial public offering (IPO) on September 20, 2023. The subscriptions in the IPO will be allowed till September 22, 2023. The public offer is a mixture of a fresh issue and an offer for sale (OFS). The price band has also been fixed.

The IPO comprises Rs 603 crore worth of fresh issue and an offer for the sale of equity shares aggregating up to Rs 127 crore. The selling shareholder in the OFS is the International Finance Corporation.

The price band for the IPO is fixed at Rs 366 per share to Rs 385 per share having a face value of Re 1 each. Bids can be made for a minimum of 38 Equity Shares and in multiples of 38 Equity Shares thereafter.

ICICI Securities, Axis Capital & Kotak Mahindra Capital Company are the Book Running Lead Managers to the offer.

SignatureGlobal is the largest real estate development company in the National Capital Region of Delhi ("Delhi NCR") in the affordable and lower mid-segment housing in terms of units supplied (in the below ₹ 8 million price category) between 2020 and the three months ended March 31, 2023, with a market share of 19%.

It commenced its operations in 2014 through its Subsidiary, Signature Builders Private Limited, with the launch of our Solera project on 6.13 acres of land in Gurugram, Haryana. Over the years, the company has grown its operations and 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 investor base includes IFC and HDFC Capital Advisors who participated in multiple rounds of capital raise undertaken by the Company.

To execute projects from inception to completion which enables it to offer projects at competitive prices, the company adopted an integrated real estate development model.

Among its core strengths is the company's ability to efficiently turn around projects on land that it ties up and it typically launches projects within 18 months from the date of acquisition of the land.

It has an extensive distribution network with 593 channel partners and an in-house team of 41 employees engaged in direct sales and 100 employees for indirect sales, as of March 31, 2023.