Signature Global's Strategic Move: A Rs 875 Crore Fundraising through NCDs

Signature Global, a prominent real estate firm based in Gurugram, is making strategic financial maneuvers by opting to raise up to Rs 875 crore through non-convertible debentures (NCDs). The decision was announced following a Board meeting held on Wednesday, signaling the company's intentions to fuel its business growth through additional funding.

According to the regulatory filing, the fundraising will occur on a private placement basis, with the issuance of secured, listed, redeemable NCDs in one or more series/tranches. This plan, pending shareholder approval via a postal ballot, also involves enhancing the borrowing limit, creating new securities, and altering the Articles of Association for optimal operational flexibility.

Having positioned itself as the fifth-largest listed real estate firm in India, Signature Global recorded property sales worth Rs 10,290 crore in the previous fiscal year. The company aims to surpass this by targeting Rs 12,500 crore in pre-sales for the current financial year, underscoring its robust market presence and growth trajectory.

(With inputs from agencies.)