Signatureglobal (India) Ltd. has announced public offering of 18961040 shares at a price of Rs 1.00 each for Cash at a Premium of Rs 384.00 per share. The gross proceeds of the issue are expected to be Rs 73,000.00 lakhs.
The company's initial public offer (IPO) will open on 20 September 2023 and is expected to close on 22 September 2023, subject to customary closing conditions. The price band of the issue has been fixed at Rs 366.00-385.00 per share.
The IPO includes a fresh Issue of 18961040 Equity Shares of the Company at an price of Rs 385.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 38 shares with bids in multiples of 38.
Signatureglobal (India) Ltd. anticipates using the proceeds of the issue for Repayment or prepayment, in full or in part, of certain borrowings availed by the Company Infusion of funds in certain of the Subsidiaries, namely Signatureglobal Homes, Signatureglobal Developers,Signatureglobal Business Park and Sternal Buildcon for repayment or prepayment, in full or in part, of certainborrowings availed by the Subsidiaries Inorganic growth through land acquisitions and general corporate purposes.
KOTAK MAHINDRA CAPITAL COMPANY LTD,ICICI SECURITIES LTD,Axis Capital Ltd as lead manager(s) & Link Intime India Private Limited is the registrar, to the issue.