External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

External broker reports(aggregated public sources)

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

SignatureGlobal India Pvt Ltd / Equity Bottom-Up

<ul><li>We retain our BUY rating on SignatureGlobal India (Signature) with an unchanged TP of INR 1,905, valuing it at 10x FY24–26E average embedded EBITDA on sales bookings.</li><li>Signature recently launched Phase 1 of its Daxin Vistas, Sohna project in Gurugram.</li><li>It consists of independent floors and residential/industrial plots and has an estimated GDV &gt;INR 20bn.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

We retain our BUY rating on SignatureGlobal India (Signature) with an unchanged TP of INR 1,905, valuing it at 10x FY24–26E average embedded EBITDA on sales bookings.Signature recently launched Phase 1 of its Daxin Vistas, Sohna project in Gurugram.It consists of independent floors and residential/industrial plots and has an estimated GDV &gt;INR 20bn.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

SignatureGlobal India - Ohna Mid-Income Housing Launch

Indian Accounting Research Analyst, Trudence Capital Advisors

Nitin Mangal

Indian Accounting Research Analyst

Trudence Capital Advisors

Trudence Capital Advisors Private Limited is a SEBI-registered Research Analyst, holding SEBI registration number INH000015747. Our firm is dedicated to providing independent and unbiased research on Indian mid to large-cap companies. Trudence Capital is known for its counter-consensus views, with a focus on forensic research and on-ground primary investigations. Our research approach is thorough, involving detailed analysis of accounting practices and governance, alongside extensive channel checks.

Independent & Unbiased Research

Equity Capital Markets

SignatureGlobal India Pvt Ltd / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/signatureglobal-india-pvt-ltd" target="_blank" data-smartkarma-citation="entities:36158:1" rel="noopener">SignatureGlobal India Pvt Ltd (1468641D IN)</a> IPO will go live for subscription this week. </li>
<li>The company is one of the renowned players in the NCR and Haryana in the affordable and lower mid segment housing.</li>
<li>The company has grown well in the recent times, however there are certain forensic takeaways such as poor health of subsidiaries, related party transactions, etc.</li>
</ul>



SignatureGlobal India Pvt Ltd (1468641D IN) IPO will go live for subscription this week. 
The company is one of the renowned players in the NCR and Haryana in the affordable and lower mid segment housing.
The company has grown well in the recent times, however there are certain forensic takeaways such as poor health of subsidiaries, related party transactions, etc.


SignatureGlobal (India) IPO- Forensic Analysis

Consumer Analyst / Channel Surveillance Specialist, Trudence Capital Advisors

Pranav Bhavsar

Consumer Analyst / Channel Surveillance Specialist

<ul>
<li>ATH for the <a href="https://www.smartkarma.com/entities/nifty-index" target="_blank" data-smartkarma-citation="entities:23617:1" rel="noopener">NIFTY Index (NIFTY INDEX)</a>,  Going ahead, we expect the momentum in the market to continue. </li>
<li>Healthcare and Information Technology remain interesting pockets to watch when it comes to <a href="https://www.smartkarma.com/entities/ishares-msci-india-etf" target="_blank" data-smartkarma-citation="entities:282:1" rel="noopener">iShares MSCI India ETF (INDA US)</a>. </li>
<li>Other names discussed include <a href="https://www.smartkarma.com/entities/bajaj-auto-ltd" target="_blank" data-smartkarma-citation="entities:3613:1" rel="noopener">Bajaj Auto Ltd (BJAUT IN)</a>, <a href="https://www.smartkarma.com/entities/hindustan-unilever-ltd" target="_blank" data-smartkarma-citation="entities:13828:1" rel="noopener">Hindustan Unilever (HUVR IN)</a>, <a href="https://www.smartkarma.com/entities/bandhan-bank-ltd" target="_blank" data-smartkarma-citation="entities:26705:1" rel="noopener">Bandhan Bank Ltd (BANDHAN IN)</a> and <a href="https://www.smartkarma.com/entities/vedant-fashions-limited" target="_blank" data-smartkarma-citation="entities:34260:1" rel="noopener">Vedant Fashions (MANYAVAR IN)</a>.  </li>
</ul>


ATH for the NIFTY Index (NIFTY INDEX),  Going ahead, we expect the momentum in the market to continue. 
Healthcare and Information Technology remain interesting pockets to watch when it comes to iShares MSCI India ETF (INDA US). 
Other names discussed include Bajaj Auto Ltd (BJAUT IN), Hindustan Unilever (HUVR IN), Bandhan Bank Ltd (BANDHAN IN) and Vedant Fashions (MANYAVAR IN).  


[Week 3] Namaste India 🙏 | Bajaj Auto Ltd (BJAUT IN) | Exports Could Improve Further

APAC IPOs & Placements, Aequitas Research

Clarence Chu

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/signatureglobal-india-pvt-ltd" target="_blank" data-smartkarma-citation="entities:36158:1" rel="noopener">SignatureGlobal India Pvt Ltd (1468641D IN)</a> is looking to raise around US$125m in its upcoming India IPO. The deal will be run by Axis, ICICI, and Kotak.</li>
<li>Signature Global is a real estate development company in India, with its primary operations being the development of residential real estate projects in the affordable and mid segment.</li>
<li>As of FY22, it had completed five projects with a land area of 34.9 acres and an aggregate saleable area of 2.86m sqft.</li>
</ul>



SignatureGlobal India Pvt Ltd (1468641D IN) is looking to raise around US$125m in its upcoming India IPO. The deal will be run by Axis, ICICI, and Kotak.
Signature Global is a real estate development company in India, with its primary operations being the development of residential real estate projects in the affordable and mid segment.
As of FY22, it had completed five projects with a land area of 34.9 acres and an aggregate saleable area of 2.86m sqft.


Signature Global (India) Pre-IPO Tearsheet

India

SignatureGlobal (India) Private Limited operates as a real estate and infrastructure development company. The Company develops residential buildings, retail properties, and commercial projects. SignatureGlobal (India) serves customers in India.

SignatureGlobal India Pvt Ltd (1468641D IN)

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SignatureGlobal India Pvt Ltd (1468641D IN)

SignatureGlobal India - Ohna Mid-Income Housing Launch

We retain our BUY rating on SignatureGlobal India (Signature) with an unchanged TP of INR 1,905, valuing it at 10x FY24–26E average embedded EBITDA...

ICICI Securities Limited

SignatureGlobal (India) IPO- Forensic Analysis

SignatureGlobal India Pvt Ltd IPO to launch this week. Renowned player in affordable housing, but concerns over subsidiaries and related party...

Nitin Mangal

[Week 3] Namaste India 🙏 | Bajaj Auto Ltd (BJAUT IN) | Exports Could Improve Further

NIFTY Index hits ATH, market momentum expected to continue. Bajaj Auto, Hindustan Unilever, Bandhan Bank, and Vedant Fashions are names discussed.

Pranav Bhavsar

Signature Global (India) Pre-IPO Tearsheet

SignatureGlobal India Pvt Ltd (1468641D IN) is looking to raise around US$125m in its upcoming India IPO. The deal will be run by Axis, ICICI, and...

Clarence Chu

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

SignatureGlobal India - Ohna Mid-Income Housing Launch

We retain our BUY rating on SignatureGlobal India (Signature) with an unchanged TP of INR 1,905, valuing it at 10x FY24–26E average embedded EBITDA...

ICICI Securities Limited

SignatureGlobal (India) IPO- Forensic Analysis

​SignatureGlobal India Pvt Ltd IPO to launch this week. Renowned player in affordable housing, but concerns over subsidiaries and related party...

Nitin Mangal

[Week 3] Namaste India 🙏 | Bajaj Auto Ltd (BJAUT IN) | Exports Could Improve Further

​NIFTY Index hits ATH, market momentum expected to continue. Bajaj Auto, Hindustan Unilever, Bandhan Bank, and Vedant Fashions are names discussed.

Pranav Bhavsar

Signature Global (India) Pre-IPO Tearsheet

SignatureGlobal India Pvt Ltd (1468641D IN) is looking to raise around US$125m in its upcoming India IPO. The deal will be run by Axis, ICICI, and...

Clarence Chu

SignatureGlobal India Pvt Ltd IPO to launch this week. Renowned player in affordable housing, but concerns over subsidiaries and related party...

NIFTY Index hits ATH, market momentum expected to continue. Bajaj Auto, Hindustan Unilever, Bandhan Bank, and Vedant Fashions are names discussed.