Signature Global’s Rs730-cr IPO on Sep 20

New Delhi: Realty firm Signature Global (India) Ltd will hit the capital markets on September 20 with its Initial Public Offering (IPO) to raise Rs 730 crore.

In July last year, the Delhi-based firm had filed the Draft Red Herring Prospectus (DRHP) with capital markets regulator Sebi. According to the Red Herring Prospectus (RHP), which was filed on Tuesday, the total size of the IPO is up to Rs 730 crore, comprising fresh issue of shares up to Rs 603 crore and offer for sale of up to Rs 127 crore.

The company said it plans to utilise Rs 264 crore for repayment or prepayment of certain borrowings, in full or in part. It plans to infuse Rs 168 crore into subsidiaries for repayment or prepayment, in full or in part, certain borrowings availed of by them. The remaining fund will be used for inorganic growth through land acquisitions and general corporate purposes.