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Real estate firm Signature Global will raise up to INR 875 crore through secured, listed non-convertible debentures (NCDs) via private placement. The move, approved by the board, also includes a postal ballot to seek shareholder approval for increasing borrowing limits, creating securities, and amending the Articles of Association. Based in Gurugram, Signature Global ranked fifth among listed developers by sales bookings last year, posting INR 10,290 crore in FY24 sales. With a target of INR 12,500 crore in pre-sales for FY25, the company is doubling down on affordable and mid-income housing in the NCR, buoyed by strong post-IPO momentum and market confidence.
Real estate developer Signature Global is set to raise as much as INR 875 crore through non-convertible debentures (NCDs), opting for a private placement route to support its ongoing expansion plans. Advertisement
This decision was recently approved by the company's board, which authorised the issuance of secured, listed, redeemable NCDs in one or more tranches. The approval forms part of a broader initiative that also includes sending out a postal ballot to shareholders. This ballot seeks their consent not only for the proposed issuance but also for an increase in the firm's borrowing limit, a hike in the ceiling for security creation, and amendments to the company's Articles of Association.
Signature Global, headquartered in Gurugram, ranks among the country's top real estate developers. It secured its position as the fifth-largest listed player in terms of sales bookings during the previous financial year.
During FY 2024-25, the company clocked INR 10,290 crore in property sales. It has set a more ambitious target of INR 12,500 crore in pre-sales for the current financial year, indicating a bullish outlook on market demand and investor confidence. This performance builds on the momentum it gained post-IPO and reflects its focus on affordable and mid-income housing segments, particularly in the NCR region.
Source - PTI
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