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The selling shareholder in the IPO is the International Finance Corporation, which is offering shares worth up to Rs 127 crore. The minimum bid for the IPO has been set at 38 equity shares, with multiples of 38 equity shares thereafter.
Established in 2014, Signature Global has sold a total of 27,965 residential and commercial units as of March 31, 2023. The company reported a compound annual growth rate (CAGR) of sales (net of cancellation) at 42.46 per cent, escalating from Rs 1,690.27 crore in fiscal year 2021 to Rs 3,430 crore in fiscal year 2023. As of March end, it sold 25,089 residential units with an average selling price of Rs 36 lakh per unit.
The net proceeds from the IPO will be used for repayment or prepayment of borrowings, land acquisition, and general corporate purposes. ICICI Securities Ltd , Axis Capital (NYSE:AXS) Ltd and Kotak Mahindra Capital Company Ltd are serving as the book-running lead managers to the issue. Following the IPO, the equity shares of Signature Global (India) Ltd will be listed on both BSE and NSE exchanges.
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