Realty firm Signature Global has fixed a price band of Rs 366-385 per share for its maiden public issue and aims to raise Rs 330 crore from anchor investors.
Signature Global, which is based out of Delhi-National Capital Region, will hit the capital markets on September 20 with its IPO to raise Rs 730 crore. The offer will close on September 22.
In July last year, Signature Global filed the Draft Red Herring Prospectus (DRHP) with capital markets regulator Sebi to launch its IPO.
According to the Red Herring Prospectus (RHP) filed earlier this week, the total size of the IPO is up to Rs 730 crore, comprising fresh issue of shares of up to Rs 603 crore and Offer For Sale (OFS) of up to Rs 127 crore.
“Our net debt stood at around Rs 1,100 crore at the end of the last fiscal year. We propose to utilise Rs 432 crore for debt reduction,” Signature Global Chairman Pradeep Aggarwal told reporters here.
The balance fund will be used for inorganic growth through land acquisitions and gener
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