Signature Global IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Sep 22, 2023Signature Global (India) Limited has filed the Draft Red Herring Prospectus with the capital market regulator Securities and Exchange Board of India (SEBI) to seek its approval for the launch of its IPO in the market.
Signature Global IPO is a Fresh Issue and an Offer for Sale and the company is aiming to raise about Rs. 1,000 crores by means of this IPO.
With this Signature Global IPO Review, we will analyze all the facets of the company, its operations, products & services, and terms related to the IPO.
| Face Value | Rs 1 |
| Price Band | Rs 366 to Rs 385 |
| Listing At | BSE, NSE |
| Min. Order Quantity | 38 Shares |
| Listing Date | October 4, 2023 |
| Offer for Sale | Rs 127.00 Cr |
| Fresh Issue | Rs 603.00 Cr |
| IPO Size | Rs 730.00 Cr |
| Tick Size | 1 |
Signature Global IPO Overview
Signature Global IPO is a combination of a Fresh Issue of Equity Shares aggregating up to Rs. 603.00 crores and an Offer for Sale aggregating up to Rs. 127.00 crores.
One of the promoters of the company and an existing shareholder will be offering their shares in the IPO and lowering their shareholding.
It is a 100% book-built issue and is proposed to be listed on the mainboard exchange, BSE and NSE.
Signature Global IPO Important Dates
| Events | Date |
| IPO Opening Date | September 20, 2023 |
| IPO Closing Date | September 22, 2023 |
| Basis of Allotment Finalization | September 27, 2023 |
| Refunds Initiation | September 29, 2023 |
| Credit of Shares to Demat Account | October 3, 2023 |
| Share Listing Date | October 3, 2023 |
The preliminary papers for the IPO were filed with the authority a few weeks ago on July 12th, 2022. The further procedure will begin with the IPO dates and subscription after obtaining approval from SEBI.
The company will determine the IPO opening and closing dates and will declare them to the public so as to invite bids.
We will update you about the Signature Global IPO Dates soon.
Signature Global IPO Price, Size, Share Offerings
| Face Value | Rs 1 |
| Price Band | Rs 366 to Rs 385 |
| Offer for Sale | Rs 127.00 Cr |
| Fresh Issue | Rs 603.00 Cr |
| IPO Size | Rs 730.00 Cr |
Signature Global IPO Price will be determined by the company and the selling shareholders in consultation with the Lead Managers. The price will be discovered through the Book book-building process where the bidders will place their bids within a certain price range known as price band, and post all the bids have been received the company will determine the fixed price.
Signature Global IPO Size will be formed of the equity shares offered in the IPO to raise funds of up to Rs. 1,000 crores.
Signature Global IPO Grey Market Premium
| Date | GMP (Rs.) | Kostak Rate (Rs.) | Subject to Sauda (Rs.) |
| 20 Sep 2023 | Rs 40 | NA | NA |
| 19 Sep 2023 | Rs 40 | NA | NA |
| 17 Sep 2023 | NA | NA | NA |
| 14 Sep 2023 | NA | NA | NA |
Grey Market Premium or GMP is the premium amount paid by the traders while trading in the shares in the Grey market. This trading takes place before the opening of IPO and listing on the stock exchanges. Here also, the share price fluctuates as per demand and reputation of the issuer company.
It works as an estimation mechanism for the traders before applying for the IPO.
Signature Global IPO GMP will work as a yardstick for the interested traders and investors for the bid price of the IPO.
Signature Global IPO Subscription Status
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – 20th Sep | 0.00x | 1.50x | 0.97x | 0.57x |
| 2nd Day – 21st Sep | 0.66x | 3.22x | 2.69x | 1.70x |
| 3rd Day – 22nd Sep | 0.66x | 5.07x | 3.92x | 2.41x |
| Shares Offered or Net Issue | 5,948,079 | 2,844,156 | 1,896,104 | 18,961,039 |
The subscription process is the step in an IPO where investors send their application to the company through the ASBA process for the share allotment.
In the ASBA process, a certain amount is blocked in the account of the bidder with their consent and if the bidder receives allotment, the said amount is deducted from his/her account, or in otherwise condition, the block is removed from the account.
Signature Global IPO Subscription will also be executed through the ASBA process.
Signature Global IPO Allotment Status
Allotment of shares is the distribution of shares to the successful bidders or allottees after the subscription has been completed. The company arrives at the final share price at which the allotment will be made and allots share to the ones whose bid level matches the share price.
Signature Global IPO Allotment will be undertaken after the bids from investors have been received by the company.
Signature Global IPO Live Performance
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Signature Global – Company Review
The company was originally incorporated in the name Ridisha Marketing Private Limited in 2000, which later was changed to Signature Global (India) Private Limited in 2014.
They are the largest real estate development entity in Delhi-NCR. They offer affordable and mid-segment housing to the customers.
As of March 2022, the company sold over 23,453 residential and commercial units within their operational region i.e., Delhi-NCR. These sales have an aggregate Saleable Area of 14.59 million square feet.
Signature Global is supporting the Government policies of affordable housing and helping individuals achieve their lifelong desire of owning their own houses.
Products or Services
Operating in the residential and commercial housing segment, Signature Global has successfully completed various projects and is constantly adding new projects to its vision. They believe in offering value homes to customers which feels like a dream come true.
The housing facilities offered by the company are built on solid infrastructure, all required amenities, and attractive designs.
All the projects of the company are located in the Delhi-NCR region itself. The company has company a long way since 2014 and is standing on solid grounds. They have multiple projects going on currently, and various planned for the forthcoming time.
Promoters and Holding
The Promoters of Signature Global (India) Limited are:
- Pradeep Kumar Aggarwal
- Lalit Kumar Aggarwal
- Ravi Aggarwal
- Devender Aggarwal
- Pradeep Kumar Aggarwal Huf
- Lalit Kumar Aggarwal Huf
- Ravi Aggarwal Huf
- Devender Aggarwal Huf
- Sarvpriya Securities Private Limited
The management of the company comprises of the following:
- Pradeep Kumar Aggarwal, in the position of Chairman and Whole-time Director
- Lalit Kumar Aggarwal, in the position of Vice Chairman and Whole-time Director
- Ravi Aggarwal, in the position of Managing Director
- Devender Aggarwal, in the position of Joint Managing Director and Whole-time Director
- Kundan Mal Agarwal, in the position of Independent Director
- Chandra Wadhwa, in the position of Independent Director
- Lata Pillai, in the position of Independent Director
- Venkatesan Narayanan, in the position of Independent Director
- Rajat Kathuria, in the position of Chief Executive Officer
- Meghraj Bothra, in the position of Company Secretary and Compliance Officer
- Manish Garg, in the position of Chief Financial Officer
- Sanjay Kumar Varshney, in the position of Chief operating officer
Is Signature Global good for Investment?
The property developer company, Signature Global, founded and managed from Gurugram has certainly found its niche in mid segment and affordable housing segment tailored for the Indian consumers. The housing come with the necessary amenities and a happy home environment. The company pays attention high attention to the architect and environment.
Their projects and operations are run through Gurugram only. They have a strong presence with over 19% market share in the Delhi-NCR market.
Signature Global Financial Statements
| Amount (in INR & Million) | |||
| 31-Mar-23 | 31-Mar-22 | Mar-21 | |
| Assets |
59,991.28
|
44,308.51 | 37,623.66 |
| Revenue |
15,858.78
|
9,396.00 | 1,547.19 |
| Expense |
16,426.28
|
10,760.17 | 2,466.55 |
| Profit After Tax |
(637.15)
|
(1,155.00) | (862.78) |
The operations of Signature Global are taking slightly longer to flourish on the financial front. The company has incurred year-on-year in the past three financial years.
The revenues of the company have fluctuated from shrinking to expanding in these years. The total revenue for the years 2022, 2021, and 2020 were – Rs. 9,396.00 million, Rs. 1,547.19 million, and Rs. 2,630.30 million, respectively.
There have been no profits in the past financial years, instead the financial records project losses. The losses for the years 2022, 2021, and 2020 were – Rs. (1,155.00) million, Rs. (862.78) million, and Rs. (565.74) million, respectively.
| Earnings per Equity Share (in Million) | |||
| 31-Mar-23 | 31-Mar-22 | Mar-21 | |
| Basic & Diluted |
(5.44)
|
(10.23) | (7.56) |
The EPS of Signature Global as on 31st March 2022 was Rs. (10.23). And in the previous years, the EPS was Rs. (7.56) as on 31st March 2021, and Rs. (5.07) as on 31st March 2020.
Signature Global IPO Review
Signature Global IPO consists of a Fresh Share Issue and a Share sale by the existing shareholders.
The selling shareholders offering their shares are Sarvpriya Securities Private Limited, a promoter of the company and International Finance Corporation, an Investor Selling Shareholder. Both the entities will be offloading shares worth Rs. 125 crores each in the IPO.
The company will be utilizing the proceeds from the fresh issue towards payment of debt, and funding its inorganic growth strategies through land acquisitions. Further, the company will also fund for the payment of debts availed by its subsidiaries, Signature Global Homes, Signature Infrabuild, Signature Global Developers and Sternal Buildcon.
The IPO objective consists ideas of maintaining operations of the company, as well growth initiatives.
Signature Global IPO Details
Here are few more details you need to know before investing in Signature Global IPO –
Signature Global IPO Issue Object
Thus Signature Global has proposed diverse objectives for making the IPO offer and some of the objectives are:
- Re-payment or pre-payment, in full or in part, of certain borrowings availed by our Company;
- Infusion of funds in certain of our Subsidiaries, namely Signature Global Homes, Signature Infrabuild, Signature Global Developers and Sternal Buildcon for re-payment or pre-payment, in full or in part, of certain borrowings availed by our Subsidiaries; and
- Inorganic growth through land acquisitions and general corporate purposes.
Signature Global IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Largest affordable and mid-segment real estate developer in Delhi NCR;
- Well-established brand, strong distribution network and digital marketing capabilities translating into faster sales;
- Fast-growing with the ability to scale up rapidly;
- Ability to provide aspirational lifestyle and amenities at affordable pricing and at strategic locations;
- Standardized product offerings, quick turnaround and end-to-end in-house project execution expertise;
- Positive operating cash flows with low levels of debt;
- Strong focus on sustainable development; and
- Experienced Promoters and professional senior management team with marquee investors.
Quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-23 |
(5.44)
|
NA |
3.81
|
| 31-Mar-22 | (10.23) | NA | (30.96) |
| Mar-21 | (7.56) | NA | (18.18) |
Signature Global IPO Lead Managers
Here are the list of Lead managers –
- ICICI Securities Limited
- Axis Capital Limited
- Kotak Mahindra Capital Company Limited
Signature Global IPO Registrar to offer
Check out the details of the registrar here –
Link Intime India Private Limited
Address – C 101, 247 Park, L.B.S. Marg, Vikhroli (West), Mumbai 400083, Maharashtra, India
Tel: +91 22 4918 6200
E-mail: Signature Global.ipo@linkintime.co.in
Website: www.linkintime.co.in
Investor grievance E-mail: Signature Global.ipo@linkintime.co.in
Contact Person: Shanti Gopalkrishnan
SEBI Registration No.: INR000004058
Signature Global IPO – Other Details
- Statutory Auditor – Walker Chandiok & Co LLP
- Legal Counsel to the Company – Cyril Amarchand Mangaldas
- Bankers to the Company – IndusInd Bank Limited, ICICI Bank Limited, SBM Bank (India) Limited, and Yes Bank Limited
Signature Global IPO – Conclusion
The Gurugram based company, Signature Global is a property developer. The company’s operations are wide and extensive. They are among the top entities in the segment and have captured a significant portion of the market.
Investment in the company is a good decision as the realty sector is ever growing and joining this journey can lead to good returns in the future years.
The company’s sales have also shown positive growth in the years.
The IPO can be a good investment for the traders and investors.
To Subscribe to Signature Global IPO – Open Demat Account Now!
Signature Global IPO Review FAQs
Check out the FAQs on Signature Global IPO –
What is the Issue Size of Signature Global IPO?
The Company is making an initial public offer of 18,961,039 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of Signature Global IPO?
The price band for this particular IPO ranges between Rs 366 to Rs 385. As far as the face value of the share is concerned, it is Rs.1 per share.
What is the Signature Global IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on September 20, 2023, while the closing date is set at September 22, 2023.
What is the Signature Global IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. Basis of Allotment finalization is on September 27, 2023, refund initiation is on September 29, 2023, credit of shares is on October 3, 2023, and share listing date is on October 4, 2023.
What is the Signature Global IPO Listing Date?
Shares of this company shall be listed in the exchanges October 4, 2023. The date, when the listing would be done, is stagnant on October 4, 2023.
Who is the Registrar of Signature Global IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. Link Intime India Private Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Signature Global IPO?
Here are the promoters of Signature Global- Pradeep Kumar Aggarwal, Lalit Kumar Aggarwal, Ravi Aggarwal, Devender Aggarwal, Pradeep Kumar Aggarwal Huf, Lalit Kumar Aggarwal Huf, Ravi Aggarwal Huf, Devender Aggarwal Huf and Sarvpriya Securities Private Limited. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Signature Global IPO?
They have obtained the GMP of this IPO and it is (Rs. X). Further insights into the Kostak rate and subject to sauda or SS are also included in this report.
Is Signature Global IPO Good for Investment?
They have further provided the financial status of the company in this article, from the past few years.
You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Signature Global Company?
They have the information of company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2023 in Million is (637.15), 2022 is (1,155.00), 2021 is (862.78).
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