Signature Global to Raise Rs 8.75 billion via NCDs for Debt Refinancing, Expansion
Real Estate

Signature Global to Raise Rs 8.75 billion via NCDs for Debt Refinancing, Expansion

Realty major Signature Global has announced plans to raise up to Rs 8.75 billion through the issuance of secured, listed, redeemable non-convertible debentures (NCDs) on a private placement basis. The fundraising will be executed in one or more tranches and is expected to conclude by August, subject to shareholder approval. 

Of the total proceeds, Rs 4.5 billion will be utilised to refinance existing debt, while the remaining amount will support business expansion initiatives, Chairman Pradeep Kumar Aggarwal confirmed to PTI. 

The board has approved the proposal and the company will now initiate a postal ballot to seek shareholder consent. Approvals will also be sought for enhancing the borrowing limit, increasing the ceiling for creation of security, and altering the Articles of Association. 

Signature Global, headquartered in Gurugram, has transitioned from an affordable housing focus to mid-income and premium residential segments, in response to rising land costs in the region. 

In FY2024-25, the company recorded sales bookings of Rs 102.9 billion, ranking as the fifth-largest listed real estate firm by sales. It is targeting Rs 125 billion in pre-sales for the current financial year. 

Realty major Signature Global has announced plans to raise up to Rs 8.75 billion through the issuance of secured, listed, redeemable non-convertible debentures (NCDs) on a private placement basis. The fundraising will be executed in one or more tranches and is expected to conclude by August, subject to shareholder approval. Of the total proceeds, Rs 4.5 billion will be utilised to refinance existing debt, while the remaining amount will support business expansion initiatives, Chairman Pradeep Kumar Aggarwal confirmed to PTI. The board has approved the proposal and the company will now initiate a postal ballot to seek shareholder consent. Approvals will also be sought for enhancing the borrowing limit, increasing the ceiling for creation of security, and altering the Articles of Association. Signature Global, headquartered in Gurugram, has transitioned from an affordable housing focus to mid-income and premium residential segments, in response to rising land costs in the region. In FY2024-25, the company recorded sales bookings of Rs 102.9 billion, ranking as the fifth-largest listed real estate firm by sales. It is targeting Rs 125 billion in pre-sales for the current financial year. 

Next Story
Infrastructure Energy

India, Brazil Discuss Energy Ties And Oil Investments

Union Minister for Petroleum and Natural Gas Hardeep Singh Puri held discussions with Celso Luis Nunes Amorim, Special Advisor to the President of Brazil, and senior Brazilian officials to strengthen bilateral cooperation in the oil, gas, and energy transition sectors. The talks took place during a dinner hosted by Kenneth H da Nobrega, Ambassador of Brazil to India, at his residence in New Delhi.Mr Puri said the meeting focused on Indian investments in Brazil’s oil and gas sector, as well as expanding collaboration in energy transition and biofuels. “The enriching conversation revolved ar..

Next Story
Infrastructure Energy

ONGC To Invest Rs 8.11 Billion In Andhra Onshore Oil, Gas Project

The Oil and Natural Gas Corporation Limited (ONGC) is set to invest Rs 8.11 billion for the onshore development and production of oil and gas from 172 wells across eight Production Mining Licence (PML) blocks in Andhra Pradesh.A committee under the Ministry of Environment, Forest and Climate Change (MoEFCC) has recommended environmental clearance (EC) for the project during a review meeting held last month.According to the Expert Appraisal Committee (EAC) minutes, the total project cost is estimated at Rs 8.11 billion, with a capital allocation of Rs 172 million towards the Environment Managem..

Next Story
Infrastructure Energy

Tripura To Supply 40 MW Power To Mizoram For Christmas

The Tripura State Electricity Corporation Limited (TSECL) will supply 40 megawatts (MW) of power to Mizoram during the upcoming Christmas celebrations, continuing a long-standing tradition of power exchange between the two north-eastern states, officials confirmed on Sunday.During Durga Puja, the Mizoram State Power Corporation (MSPC) had supplied an equivalent 40 MW of electricity to Tripura to ensure an uninterrupted power supply during the festive period.“We had an agreement to receive 40 MW during Durga Puja, although the full amount was not utilised due to lower-than-expected demand in ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?