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Signature Global cuts IPO size by 27% amid high borrowing costs

Dated on: Thursday 14th September 2023

Indian real estate firm Signature Global has adjusted the total offer size for its initial public offering (IPO) to 7.3 billion rupees ($88 million) from the initially planned 10 billion rupees, as per the updated prospectus dated Sept. 12. The IPO comprises a fresh issue of shares worth 6.03 billion rupees and 1.27 billion rupees worth of shares being divested by the company's existing shareholder, International Finance Corporation, a member of the World Bank Group.

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