IPO Corner: SignatureGlobal (India) Limited

SignatureGlobal (India) Limited, proposes to open on Wednesday, September 20, 2023, an initial public offer of equity shares of face value of ₹1 each for cash at a price per equity share aggregating up to ₹7,300.00 million comprising a fresh issue of equity shares aggregating up to ₹6,030.00 million by the Company and an offer for sale of equity shares aggregating up to ₹1,270.00 million by the International Finance Corporation as the selling shareholder. The Offer will close on Friday, September 22, 2023. The Price Band of the Offer has been fixed at ₹ 366 to ₹ 385 per Equity Share. Bids can be made for a minimum of 38 Equity Shares and in multiples.

• Issue Opens on: Wednesday, September 20, 2023
• Issue Closes on: Friday, September 22, 2023
• Face Value: ₹ 1 per equity share
• Price Band: ₹ 366 to ₹ 385 per Equity Share
• Market Lot Size: 38 Equity Shares and in multiples

SignatureGlobal (India) Ltd. is a real estate development company in the National Capital Region of Delhi in 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%. As of March 31, 2023, it had sold 27,965 residential and commercial units, all within the Delhi NCR region, with an aggregate Saleable Area of 18.90 million square feet. The Company’s Sales (net of cancellation) have grown at a compounded annual growth rate of 42.46%, from ₹ 16,902.74 million in Fiscal 2021 to ₹ 34,305.84 million in Fiscal 2023. As of March 31, 2023, it sold 25,089 residential units with an average selling price of ₹ 3.60 million per unit.

The Company has an extensive distribution network focused on the customer segments it targets, with 593 channel partners and an in-house team of 41 employees engaged in direct sales and 100 employees for indirect sales, as of March 31, 2023, that has helped to achieve the current scale of offerings. The Company’s AHP (Affordable Housing) projects are sold exclusively through digital channels, as mandated by the Directorate of Town and Country Planning, Haryana and since January 2022, its entire project inventory under AHP projects is being exclusively sold online, including on the government website.