The Signature Global Limited IPO is now open for investors and will accept bids until September 22, 2023. The price for each share is set between ₹366 and ₹385, with the company aiming to raise ₹730 crore from the public offer.
Subscription Status:
As of 02:42 PM on the first day of bidding, the IPO has been subscribed 0.22 times for the main board issue and 0.58 times for the retail portion.
Grey Market Premium (GMP):
Shares of Signature Global are currently trading at a premium of ₹40 in the grey market, up from ₹34 in the previous day.
IPO Details:
1. Signature Global IPO Price: ₹366 to ₹385 per share.
2. IPO Date: Open for bidding until September 22, 2023.
3. IPO Size: Aiming to raise ₹730 crore.
4. Lot Size: Each lot comprises 38 shares.
5. Investment Limit: Retail investors need a minimum of ₹14,630 (₹385 x 38) to apply.
6. Allotment Date: Share allocation expected on September 27, 2023.
7. Registrar: Link Intime India Private Ltd is the official registrar.
8. Listing: Expected to be listed on BSE and NSE on October 4, 2023.
Should You Apply?
Arun Kejriwal, Founder at Kejriwal Research and Investment Services, suggests that the company's financials may appear complex due to real estate regulations. These regulations prevent the company from showing project income before a specific project stage. So, those with a long-term perspective may consider applying for the IPO, as the company's financials could improve in the coming quarters.