The Signoria Creation IPO, which opened for bidding on March 12 is set to close today, March 14. With a total fresh issue size of ₹9.28 crores, the company is offering 14.28 lakh shares to the public.
Signoria IPO Subscription Status
As the subscription window for Signoria IPO draws to a close, the offering has seen substantial interest from investors across the board. Qualified Institutional Buyers (QIBs) have bid for 17,68,000 shares, oversubscribing the issue by 8 times.
Non-Institutional Investors (NIIs) have made a significant mark with bids for 5,51,74,000 shares subscribing 239.22 times. Retail Individual Investors’ portion also received overwhelming interest as it was oversubscribed by 370 times.
Signoria IPO GMP
The Signoria IPO GMP stands at ₹25, as per the latest updates. If we add this GMP to the upper price band of ₹65, the expected listing price could be around ₹90 per share. However, it’s crucial for investors to understand that GMP is merely an indicator and should not be the sole factor considered when evaluating the potential performance of the company upon its stock market debut.
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Signoria IPO Details
The Signoria IPO, which is a book-built issue, has set its price band at ₹61 to ₹65 per share, with a minimum lot size of 2000 shares, translating to a minimum investment of ₹130,000 for retail investors. The tentative listing date on the NSE SME platform is scheduled for March 19, 2024.
Signoria Creation aims to utilize the net proceeds from its IPO to prepay or repay certain borrowings, finance its working capital requirements, and for general corporate purposes. The company has successfully garnered ₹180 crores from anchor investors prior to the public offering.
About Signoria Creation
Established in 2019, Signoria Creation Limited specializes in the manufacturing and sale of women’s apparel, including kurtis, pants, tops, co-ord sets, dupattas, and gowns. The company operates two manufacturing units in Jaipur, Rajasthan, and has recently expanded its infrastructure with a new plot acquisition.
With a total production capacity exceeding 4,77,000 quality garment pieces for the fiscal year 2022-2023, Signoria Creation is poised for growth. As of mid-February 2024, the company’s workforce comprises 153 employees, including permanent and contract staff, across various departments.
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