Signature Global IPO allotment status: How to check your application status and latest GMP

Signature Global is likely to allot its shares today, that is, Monday, September 25. The primary stake sale offers of the Delhi-NCR based real estate player saw a mixed response from the investors at Dalal Street during the three-day bidding process.

Signature Global sold its IPO in the price band of Rs 366-385 per share with a lot size of 38 shares. The issue was open for bidding between September 20 to September 22. Trimming the initial plans to raise over Rs 1,000 crore, Signature Global aimed to raise Rs 730-crore from its IPO.

The issue was overall subscribed 12.50 times. The portion for qualified institutional bidders (QIBs) was booked 13.37 times, while the allocation for non-institutional investors saw 14.24 times bidding. The quota reserved for retail investors was subscribed a little more than 7 times during the bidding process.

Grey market premium (GMP) of Signature Global has firmed since the closure of the bidding process. Last heard, the company was commanding a premium of Rs 40-45 apiece, suggesting a listing pop of around 10 per cent for the investors. The premium in the unofficial market stood around Rs 25-30 on the third and final day of the bidding.

Signature Global is among the largest real estate players in the Delhi-NCR region, mostly in affordable and lower mid-segment housing. It majorly caters to the cities like Ghaziabad, Gurugram and Karnal. The company has sold 27,965 residential and commercial units, all located within these regions of Delhi NCR.

Brokerage firms were mostly positive on the stock and suggested to 'subscribe' the issue citing its growth prospects, rising demand of housing sector in the Delhi-NCR region, management's target to turn it profitable on the net basis. However, aggressive valuations and loss-making nature of the business pushed investors backwards.

The issue was managed by Kotak Mahindra Capital Company, ICICI Securities, and Axis Capital, while Link Intime India is the registrar to the issue. Shares of the company will be listed on both BSE and NSE and Wednesday, September 27 is the tentative date for the listing.

Investors, who bid for the issue, can check the allotment status on the BSE website, https://www.bseindia.com/investors/appli_check.aspx.
1. Click Equity, under the issue type.
2. Select Signature Global Limited in the dropbox
3. Type-in the application number and add the PAN card ID
4. Click on 'I am not a Robot' before hitting submit.

Allotment status can also be checked on the online portal of Link Intime India (https://linkintime.co.in/MIPO/Ipoallotment.html), the registrar to the issue.

1) Visit web portal of Link Intime India.
2) Select the IPO in dropbox.
3) One may be required to select either Application number, Demat Account number, or PAN ID
4) Enter the details of the mode you selected in Step 2
5) Fill the captcha accurately and hit submit.

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.

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