Signatureglobal is into Real Estate Construction and is looking raise funds through Fresh Issue and Offer for Sale
Signatureglobal IPO: Signatureglobal (India) Limited has filed Draft Red Herring Prospectus (DRHP) for proposed initial public offer (IPO) and raise funds through an offer of equity share capital having face value of Rs. 1 per share via initial public offering.
Initial Public Offer comprising of a Fresh Issue aggregating up to Rs. 603 crores and an Offer for Sale up to Rs. 127 crores. ICICI Securities, Axis Capital, Kotak Mahindra Capital have been appointed as lead merchant bankers for the proposed IPO. It has appointed Link Intime India Pvt. Ltd. as Registrar and Share transfer Agent. Company is yet to finalize issue size and some other important details relating to the IPO.
Details about upcoming IPO:
As per the details available in DRHP, fundraising will consist of an Fresh Issue aggregating Rs. 603 Crs andby International Finance Corporation who will offload equity shares aggregating up to Rs. 127 crores...
Objects of the issue:
1) Re-payment or pre-payment, in full or in part, of certain borrowings amounting to Rs. 264 crores, 2) Infusion of funds in certain Subsidiaries, namely Signatureglobal Homes, Signatureglobal Developers, Signatureglobal Business Park and Sternal Buildcon for re-payment or pre-payment, in full or in part, of certain borrowings availed by the Subsidiaries amounting to Rs. 168 crores, 3) Inorganic growth through land acquisitions and general corporate purposes.
Promoters of Signatureglobal are Pradeep Kumar Aggarwal, Lalit Kumar Aggarwal, Ravi Aggarwal, Devender Aggarwal, Pradeep Kumar Aggarwal HUF Lalit Kumar Aggarwal HUF, Ravi Aggarwal HUF, Devender Aggarwal HUFand Sarvpriya Securities Private Limited. and holds 78.35% stake in the company.
About Company:
Company is in to real estate development in the National Capital Region of Delhi (“Delhi NCR”) region. Company is largely catering to the affordable housing segment. It has served the affordable and lower mid segment housing in terms of units supplied (in the below ₹ 8 million price category) between 2020 and the three months ended March 31, 2023, with a market share of 19%. (Source: Anarock Report) As of March 31, 2023, company was the largest real estate developer under the AHP in the Gurugram and Sohna region, with a market share of 18% in terms of total supply of units in the period from 2020 to the three months ended March 31, 2023.
About Industry:
Affordable housing today is an integral part of the national agenda with significant significance in urban areas. Entire NCR saw housing sales increase by 73% from 23,209 units in 2020 to 40,053 units in 2021. Despiterestricted supply in 2022, the absorption trend continued with sale of 63,712 units rising by 59%. Of the 31,706 units launched in NCR in 2022, Gurugram comprised 75% share and added as many as 19,099 units in 2022. The supply is expected to increase with9,941 new launches in the first quarter of 2023, contributing to 80% of NCR supply
Source: SEBI, BSE, NSE, DRHP, Signatureglobal, Industry Data
Disclaimer: Above article only publishes details about the IPO for educational purpose and doesn't solicit or invite any interest to invest. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.
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