Signature Global shares listed at 15.32 % premium over IPO price on bourses amid negative domestic market. The share debuted at Rs 444 on the NSE, as compared to the issue price of Rs 385. The investors have made a profit of Rs 59 per share as the scrip gave more than 15% return to investors on the listing.
“The listing was in line with expectations, given the good response that the IPO received. Signature Global is a leading real estate developer in Delhi-NCR, but it has a history of losses and faces concentration risk and stiff competition from other developers. After this listing, investors should consider booking profit; however, those who want to hold it should maintain a stop loss at 400,” said Shivani Nyati, Head of Wealth, Swastika Investmart.
Signature Global is the largest real estate development company in the NCR region and operates in affordable and lower mid-segment housing. The company develops residential, commercial and retail projects mainly in the northern cities, including Gurugram, Karnal and Ghaziabad. It commenced its operations in 2014 through its subsidiary, Signature Builders, with the launch of its Solera project on 6.13 acres of land in Gurugram, Haryana.