Signatureglobal (India) Limited Acquires Residential Project, Revises RMZ Investment
Signatureglobal (India) Limited announced on March 29, 2026, that its Board of Directors approved the acquisition of a residential project from Gurugram Commercity Limited (GCL), a wholly-owned subsidiary, for a lump-sum consideration of Rs. 50,00,00,000 (Rupees Fifty Crores only).The transaction will be executed through a Business Transfer Agreement and other related agreements. As a result of the acquisition, GCL will cease to be a wholly-owned subsidiary of Signatureglobal (India) Limited.
Concurrently, the company approved the transfer and sale of 35,69,731 equity shares of face value Rs. 10 each held by Signatureglobal (India) Limited (including its three nominees) in GCL to Millennia Realtors Private Limited (RMZ), also including its three nominees, at a price of Rs. 158.84 per share, totaling a consideration of approximately Rs. 56.70 crores.
The original agreement, disclosed on February 14, 2026, outlined a potential consideration of up to Rs. 1283 crores for RMZ to acquire 50% of GCL's share capital. This has been revised to up to approximately Rs. 1293.47 crores, reflecting closing related adjustments. RMZ will invest approximately Rs. 1236.77 crores in GCL through the subscription of equity shares and will purchase securities from the company for up to approximately Rs. 56.70 crores.
The Board meeting commenced at 18:18 Hours and concluded at 18:48 Hours.
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