Domestic stock exchanges are set to witness the debut of Signature Global and Sai Silks today. As the companies prepare to establish their presence on the bourses, here is a quick look at the IPO details along with the views of Shivani Nyati, Head of Wealth at Swastika Investmart.
Signature Global IPO
Signature Global IPO opened for public subscription on Wednesday, September 20, 2023 and closed on Friday, September 22, 2023. The price band for its public issue was at Rs 366-385 per equity share of face value Rs 1 each. The IPO was subscribed 12.50 times. The portion for non-institutional investors received a 14.24-time subscription, and the Retail Individual Investors (RIIs) quota was subscribed 7.17 times. The GMP of Signature Global IPO rose 12.99% ahead of its listing.
Sai Silks (Kalamandir) IPO
Sai Silks IPO opened for public subscription on Wednesday, September 20, 2023 and closed on Friday, September 22, 2023. The price band for its public issue was at Rs 210-222 per equity share of face value Rs 2 each. IPO was subscribed 4.47 times. The portion for non-institutional investors received a 2.54-time subscription, and the Retail Individual Investors (RIIs) quota was subscribed 0.91 times. The GMP of Sai Silks IPO rose 3.6% ahead of its debut on the bourses.
“The company is the leading ethnic apparel retailer in the southern region of the country, with a strong presence in the offline and online markets. SSKL has a track record of consistent growth and profitability, and it is strategizing to expand its footprint with a plan to set up 25 new stores. The issue was at a P/E valuation of around 27.3x, which was fairly priced. The IPO received a decent response from investors and was subscribed to 4.47 times, but looking at its GMP and current market condition, we can expect just some minor gains from its listing,” Shivani Nyati added.