Signature Global raises `318.5 cr
Mobilised funds from anchor investors ahead of public issue on Wed
New Delhi: Realty firm Signature Global, which is launching its maiden public issue on Wednesday, raised Rs318.5 crore from anchor investors, including Nomura. In a regulatory filing, Signature Global informed that under Anchor Investors (AIs) portion in the public issue, 82,72,700 equity shares have been subscribed at Rs385 per equity share.
The Nomura Trust and Banking Co Ltd bought maximum 18,70,094 shares. Kotak Mahindra Trustee Co Ltd, Kotak India EQ Contra Fund, Quant Mutual Fund, Nippon India Equity Opportunities AIF, Bandhan Core Equity Fund, Morgan Stanley Asia, Societe Generale, BNP Paribas Arbitrage and Goldman Sachs Singapore are other major investors. Signature Global -- backed by HDFC Capital and IFC -- will hit capital markets on September 20 with its IPO to raise Rs730 crore. The offer will close on September 22.
In July last year, Signature Global had filed the Draft Red Herring Prospectus (DRHP) with capital markets regulator Sebi to launch its IPO. The company has fixed the price band at Rs 366-385 per share for its maiden public issue. According to the red herring prospectus (RHP) filed recently, the total size of the IPO is up to Rs 730 crore, comprising fresh issue of shares worth up to Rs 603 crore and an offer for sale (OFS) of up to Rs 127 crore. The bulk of the proceeds will be used to reduce debt. Signature Global achieved 32 per cent growth in sales bookings to Rs 3,430.58 crore in last fiscal year on strong housing demand. Gurugram-based Signature Global, which focuses on affordable and mid-income housing segment, had clocked Rs 2,590 crore worth sales bookings in the previous fiscal.
Signature Global’s collection from customers rose to Rs 1,920 crore last fiscal from Rs 1,282.14 crore in the previous year.