Exclusive Interview with Signature Global Chairman and CEO ahead of IPO
Business Interview: On September 20, 2023, Indian real estate company Signature Global will begin trading on the stock market. Through an IPO, the company hopes to raise Rs 730 crore. The price range for the IPO is yet to be revealed. In the IPO of Signature Global, new shares worth Rs 603 crore will be issued, as well as an offer-for-sale (OFS) from investment company International Finance Corporation (IFC) worth Rs 127 crore. The IPO will accept investments up to September 22, 2023 from investors.
Signature Global IPO Details
Qualified Institutional Buyers (QIB) will receive 75% of the IPO, while anchor investors will receive up to 60%. Anchor investors can begin investing in this issuance on September 18. The remaining 15% of the issue size is allocated for high-net-worth people, with the remaining 10% intended for regular investors. The issue's merchant bankers are ICICI Securities, Axis Capital, and Kotak Mahindra Capital. The company aims to use the proceeds acquired through the IPO to settle the debt of Rs 432 crore. The remaining funds will be utilised for inorganic growth through land acquisition and other business purposes by the company. Watch this exclusive interview with Pradeep Aggarwal, Chairman of Signature Global, and Rajat Kathuria, Chief Executive Officer of Signature Global, as they speak about their eagerly awaited IPO with Vivek Mittal, Research Head of Jagran Business.
