Real-estate firm Signature Global shares at a 15% premium
Ahead of its listing, Signature Global shares commanded a premium of Rs 50 per scrip in the grey market, offering a mild listing pop to the shareholders.
Signature Global shares made a powerful debut at Dalal Street on Wednesday. The real-estate firm was listed on the bourses at Rs 445, with a premium of 16%, over its issue price of Rs 385 per stock on BSE. It was recorded at a premium of 15% at Rs 444 on the National Stock Exchange (NSE).
Ahead of its listing, Signature Global shares commanded a premium of Rs 50 per stock in the grey market, offering a mild listing pop to investors. Yet, its premium in the unofficial market has enhanced over the period from Rs 35-40 during the bidding days of the issue.
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Signature Global cut its IPO size from previous plans of Rs 1,000 crore and raised Rs 730 crore from its initial stake sale. The business sold its stocks in the range of Rs 366-385 per, and investors could make a bid for a minimum of 38 equity shares. The issue could be bid on September 20-22.
The issue of Signature Global was generally subscribed 12.50 times. The percentage for qualified institutional bidders (QIBs) was subscribed 13.37 times, while the amount for non-institutional investors (NIIs) brought 14.24 times bidding. The portion reserved for retail investors was booked around seven times.
