Real estate developer Signature Global is set to raise up to ₹875 crore by issuing non-convertible debentures (NCDs) to refinance its existing debt and support business expansion.
The company’s board has approved the fundraise through the issuance of Secured, Listed, Redeemable NCDs on a private placement basis, in one or more tranches.
When contacted, Signature Global Chairman Pradeep Kumar Aggarwal said, “We have taken the approval of board to raise funds. We will also seek shareholders approvals.”
He stated that the company will allocate ₹450 crore to refinance existing debt and use the remaining funds to support business expansion.
Aggarwal mentioned that the company aims to complete the fundraise by the end of August, pending shareholders’ approval.
Additionally, on Wednesday, the board approved a postal ballot notice to seek shareholder consent for issuing NCDs, increasing the borrowing limit, enhancing the limit for creating security, and amending the company’s Articles of Association.
Gurugram-based Signature Global ranks among the country’s leading real estate developers.
In the financial year 2024–25, it became the fifth-largest listed real estate company based on sales bookings. The company achieved property sales worth ₹10,290 crore in the previous fiscal and is now aiming for ₹12,500 crore in pre-sales for the current year.
Signature Global initially entered the market with a focus on affordable housing projects. However, due to the rising cost of land in Gurugram, the company has shifted its focus toward mid-income and premium residential segments.
