Shares of IFC-backed Signatureglobal (India) made a strong listing at the bourses on Wednesday. Against the IPO price of ₹385, the shares were listed with 16 per cent premium at ₹445 on the BSE and rose further to ₹437.45. The stock closed at ₹458.40, up 19 per cent over the issue price. On the NSE, it closed at ₹458.55.

The company launched the ₹730-crore IPO last week, which contained a fresh issue of ₹603 crore and offer-for-sales by IFC worth ₹127 crore. The issue was subscribed over 12 times with all three categories of investors — retail, QIBs and HNIs displaying keen interest.

Delhi-NCR-based Signatureglobal had raised ₹318.5 crore from anchor investors. The Nomura Trust and Banking Co, Kotak Mahindra Trustee Co Ltd, Kotak India EQ Contra Fund, Quant Mutual Fund, Nippon India Equity Opportunities AIF, Bandhan Core Equity Fund, Morgan Stanley Asia, Societe Generale, BNP Paribas Arbitrage and Goldman Sachs Singapore were anchor investors.

Signatureglobal — backed by HDFC Capital and IFC — said ₹432 crore will be used to reduce debt. The balance fund will be used for inorganic growth through land acquisitions and general corporate purposes.