New Delhi, India

September 20, 2023

Today’s IPO Opportunities: Sai Silks Kalamandir and Signature Global

In an exciting day for investors, two prominent Initial Public Offerings (IPOs) have opened for subscription today, offering opportunities for potential shareholders. Signature Global Limited and Sai Silks Kalamandir are seeking to raise capital from the public market, and both offerings come with distinct characteristics and investor sentiments.

Sai Silks Kalamandir IPO

Sai Silks Kalamandir’s IPO, open for subscription from September 20 to September 22, offers shares in the price band of ₹210 to ₹222 per equity share. The IPO comprises a fresh issuance of ₹600 crore worth of shares, alongside an offer for sale (OFS) of up to 2.70 crore equity shares by the promoter and promoter group. Allocation to investor categories includes not more than 50% for Qualified Institutional Buyers (QIB), not less than 15% for Non-Institutional Investors (NII), and not less than 35% for Retail Investors.

Grey Market Premium (GMP) for Sai Silks Kalamandir IPO is currently at +7, suggesting strong demand for the shares. An estimated listing price of ₹229 apiece, approximately 3.15% higher than the IPO price of ₹222, has also been projected, potentially appealing to short-term investors.

Signature Global IPO

Signature Global Limited’s IPO opened today with a price band of ₹366 to ₹385 per equity share. The company aims to raise ₹730 crore through this public offering, with ₹603 crore allocated for fresh issues and ₹127 crore for the OFS route. The IPO will remain open for bidding until September 22, 2023.

Grey Market Premium (GMP) for Signature Global IPO is currently at ₹40, which is ₹6 higher than its previous day’s GMP of ₹34, indicating positive sentiment among potential investors.

Expert Insights

Financial experts are divided in their opinions. Reliance Securities Ltd believes in Sai Silks Kalamandir’s potential for growth in the ethnic wear industry and recommends subscribing to the IPO. On the other hand, Arun Kejriwal, Founder at Kejriwal Research and Investment Services, suggests that investors with a long-term view might consider applying for the Signature Global IPO, considering regulatory factors affecting its financials.

As both IPOs present unique opportunities, investors are advised to carefully assess their investment objectives, risk tolerance, and the expert opinions provided before making any subscription decisions. Additionally, consulting with financial advisors is advisable to make informed investment choices in the dynamic stock market landscape.

Disclaimer:

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