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NSE SME IPO of Signoria Creation subscribed 35.76 times

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Last Updated : Mar 12 2024 | 5:31 PM IST

The offer received bids for 5.10 crore shares as against 14.28 lakh shares on offer.

The initial public offer (IPO) of Signoria Creation received bids for 5,10,72,000 shares as against 14,28,000 shares on offer, as per NSE data as of 17:00 hours on Tuesday, (12 March 2024). The issue was subscribed 35.76 times.

The issue opened for bidding on Tuesday (12 March 2024) and it will close on Thursday, (14 March 2024). The price band of the IPO is fixed at Rs 61 to 65 per share. The minimum order quantity is 2,000 equity shares. The equity shares will list on NSE's SME platform.

The IPO comprises fresh issue of 14,28,000 shares. About 72,000 equity shares will be reserved for subscription by market maker to the issue. The net issue comprises of 13,56,000 equity shares.

The company intends to utilize the net fresh issue proceeds for funding working capital requirements of the company and general corporate purposes.

Ahead of the IPO, Signoria Creation on Monday, 11 March 2024, raised Rs 2.08 crore from anchor investors. The board allotted 3.20 lakh shares at Rs 65 per share to 2 anchor investor.

Signoria Creation is engaged in manufacturing and marketing of women apparels like kurtis, pants, tops, co-ord sets, dupattas and Gowns. The company's primary goal is to manufacture women's branded clothes under the Signoria brand. The company has two manufacturing units, Unit I and Unit II, located in Mansarovar and Sanganer, Jaipur, Rajasthan.

As of 15 February 2024, the company had 153 employees (45 permanent employees, and 108 contract employees) which includes accounts & finance, compliance, maintenance, marketing & logistics, production & operations, quality, top level management and permanent labor.

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. The company recorded revenue from operations of Rs 6.52 crore and net profit of Rs 0.64 crore for the period as on 30 September 2023.

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First Published: Mar 12 2024 | 4:58 PM IST

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