Share of Rs 385 was listed at Rs 445, Signature Global's share was listed at about 16 percent premium

Shares of real estate company Signature Global (India) were listed on Wednesday with a premium of about 16 percent over the IPO price of Rs 385.

Signature Global (India) stock today opened at Rs 445, 15.58 percent higher than the IPO price on BSE, and later the company's shares jumped 17.16 percent to Rs 451.10.

The company's stock was listed on NSE at Rs 444 with a jump of 15.32 percent. The mcap of the company is Rs 6,280.83 crore.

The IPO of Signature Global (India) closed on Friday, the last day of the last trading week. This offer was worth Rs 730 crore. On Friday, the last day of subscription, the company's IPO received 11.88 times the subscription due to the participation of institutional investors.

In this IPO, the company sold shares worth Rs 603 crore through fresh issue and Rs 127 crore through Offer for Sale (OFS). The company had kept the price band for the offer at Rs 366-385 per share.

The lead managers of this IPO of Signature Global are HDFC Capital and IFC. The company had filed a draft red herring prospectus (DRHP) with capital markets regulator SEBI to launch its IPO in July last year.

Signature Global entered real estate in the year 2014. The company focuses on the affordable and middle-income housing segment. The company had recorded sales bookings of Rs 2,590 crore in the last financial year.

As of March 31, 2023, the company has sold 27,965 residential and commercial units within Delhi-NCR, with a total salable area of 18.90 million sq. ft.