New Delhi: The initial public offer (IPO) of realty firm Signature Global opened on Wednesday. The company looks to raise Rs 730 crore via this IPO which will be used mainly for debt reduction and business expansion, it said.


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Here Are 10 Key Points On Signature Global's Rs 730 crore IPO 


- Signature Global's Rs 730 crore launched IPO for debt reduction and expansion.


- IPO open until September 22, price band set at Rs 366-385 per share.


- IPO comprises fresh issue (Rs 603 crore) and offer for sale (Rs 127 crore).


- Raised Rs 318.5 crore from anchor investors, including Nomura.


- 82,72,700 equity shares subscribed by anchor investors at Rs 385 per share.


- Anchor investors include Kotak Mahindra, Quant Mutual Fund, and more.


- Backed by HDFC Capital and IFC, Signature Global filed IPO draft in July 2022.


- Majority of proceeds (Rs 432 crore) to be used for debt reduction.


- Remaining funds for land acquisitions and general corporate purposes.


- Promoter group's stake to reduce from 78.35% to around 69-70% post-listing; IFC partially sells shares via OFS.