ETMarkets.comThe initial public offers of realty player Signature Global and saree retailer Sai Silks (Kalamandir) are yet to reach full subscription so far on the second day of the bidding process.
The Rs 730-crore IPO of Signature Global was subscribed 85% with both retail and NII categories fully booked. The QIB part was subscribed just 8% so far.
Meanwhile, Sai Silks offer was subscribed just 12% so far. The part reserved for retail investors was the most subscribed at 20%, followed by NIIs at 10%. There are still no bids in the QIB category.
In the grey market, Signature Global is trading at a premium of Rs 34, compared with an issue price of Rs 385 apiece. On the other hand, Sai Silks GMP is around Rs 14 against an offer price of Rs 222.
Signature Global is the largest real estate development company in the national capital region of Delhi in affordable and lower mid-segment housing in terms of units supplied between 2020 and the three months ended March 31, 2023, with a market share of 19%.
The IPO comprises a fresh equity issue of Rs 603 crore and an offer for sale (OFS) segment of Rs 127 crore by selling shareholder International Finance Corp.
ICICI Securities, Axis Capital, and Kotak Mahindra Capital are the book-running lead managers for the IPO.
The Rs 1,201-crore issue of Sai Silks comprises a fresh issue of equity shares up to Rs 600 crore and an offer for sale of up to 2.7 crore shares by selling shareholders.
The company is amongst the top 10 retailers of ethnic apparel, particularly sarees, in south India in terms of revenues and profit after tax in FY22.
The company further plans to expand its network of stores in South India and maintain its position as a market leader in women's ethnic wear, especially sarees.
Motilal Oswal Investment Advisors, HDFC Bank, and Nuvama Wealth Management are the book-running lead managers for the IPO.
The Rs 730-crore IPO of Signature Global was subscribed 85% with both retail and NII categories fully booked. The QIB part was subscribed just 8% so far.
Meanwhile, Sai Silks offer was subscribed just 12% so far. The part reserved for retail investors was the most subscribed at 20%, followed by NIIs at 10%. There are still no bids in the QIB category.
In the grey market, Signature Global is trading at a premium of Rs 34, compared with an issue price of Rs 385 apiece. On the other hand, Sai Silks GMP is around Rs 14 against an offer price of Rs 222.
Signature Global is the largest real estate development company in the national capital region of Delhi in affordable and lower mid-segment housing in terms of units supplied between 2020 and the three months ended March 31, 2023, with a market share of 19%.
The IPO comprises a fresh equity issue of Rs 603 crore and an offer for sale (OFS) segment of Rs 127 crore by selling shareholder International Finance Corp.
Net proceeds from the IPO will be used to repay debt, infusion of funds into its subsidiaries, and pursue inorganic growth through land acquisitions and other general corporate purposes.
ICICI Securities, Axis Capital, and Kotak Mahindra Capital are the book-running lead managers for the IPO.
The Rs 1,201-crore issue of Sai Silks comprises a fresh issue of equity shares up to Rs 600 crore and an offer for sale of up to 2.7 crore shares by selling shareholders.
The company is amongst the top 10 retailers of ethnic apparel, particularly sarees, in south India in terms of revenues and profit after tax in FY22.
The company further plans to expand its network of stores in South India and maintain its position as a market leader in women's ethnic wear, especially sarees.
Motilal Oswal Investment Advisors, HDFC Bank, and Nuvama Wealth Management are the book-running lead managers for the IPO.
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