Signatureglobal Completes Transaction, Forms Joint Venture with RMZ
Signatureglobal (India) Limited announced the completion of a transaction resulting in a 50:50 joint venture with RMZ. The completion occurred on March 30, 2026, following previous announcements on February 14, 2026, and March 29, 2026.As part of the transaction, Signatureglobal (along with its three nominees) transferred and sold 35,69,731 equity shares of Rs. 10 each in Gurugram Commercity Limited (GCL) to RMZ (including its three nominees). The sale price was approximately Rs. 158.84 per share, generating a total consideration of approximately Rs. 56.70 crores. Simultaneously, GCL allotted 7,78,60,538 equity shares to RMZ for approximately Rs. 1,236.77 crores.
Following these transactions, both Signatureglobal and RMZ now hold a 50% shareholding in GCL. Consequently, GCL is no longer a subsidiary of Signatureglobal and operates as a 50:50 joint venture, effective March 30, 2026.
Source:
Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.