Signoria Creation shares list at spectacular 100% premium to IPO price
Upstox
2 min read • Updated: March 19, 2024, 1:00 PM
Summary
The investors almost doubled their investment in the stock as its market valuation surged to ₹65.45 crore against ₹31 crore at the issue price of ₹65 per share.
Women apparel maker Signoria Creation Ltd made a dream debut on stock exchanges on Tuesday, March 19, with its shares listing at a spectacular 100% premium.
Signoria Capital shares listed at ₹131 per share on NSE Emerge, more than two times of its issue price of ₹65 per share. The stock gained 5% from the listing price to hit a high of ₹137.55 on the exchange.
The investors almost doubled their money as the company’s market capitalisation surged to ₹65.45 crore against ₹31 crore at the issue price of ₹65 per share.
Exchange data showed that around 8 lakh shares of the company changed hands on NSE while traded value was ₹10.61 crore as of 10:43 am.
The dream listing follows the remarkable response to its initial public offering which was subscribed a massive 666 times.
Women apparel maker Signoria Creation launched the public offer on March 12 to raise a total of ₹9.28 crore from public investors.
The public issue of the Jaipur-based apparel maker comprised an entire fresh issue of 14.28 lakh equity shares. The price band was fixed at ₹61-65. The lot size was 2000 equity shares. The minimum investment was ₹1,22,000 for retail investors.
According to exchange data, applications for 69.03 crore equity shares were received against 10.36 lakh equity shares on offer.
The qualified institutional buyers’ category was subscribed 107.56 times. The non-institutional buyers’ portion was booked a whopping 1,290 times while the retail investors’ portion was booked 649.88 times.
The company has proposed to utilise around ₹6.27 crore for financing its working capital requirement. The company has mentioned that there is a requirement for higher working capital to fuel its growth.
About Signoria Creation
Signoria Creation is a Jaipur-based women's apparel maker. It manufactures and markets apparel under the Signoria brand. It is known for traditional Kurtis, tops, pants, gowns, Co-ord Sets and dupattas.
Signoria Creation has a manufacturing unit in Jaipur. The company markets products across India through wholesalers. Signoria has one or two wholesalers in Rajasthan, Gujrat, Delhi, Madhya Pradesh, Maharashtra and Uttar Pradesh and other states.
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