As a part of the OFS, promoter Sarvpriya Securities and investor International Finance Corporation will sell equity shares worth up to Rs 125 crore each.
The company proposes to utilise the net proceeds from the fresh issue towards payment of the debt, inorganic growth through land acquisitions and general corporate purposes.
Also, funds will be used to pay the debt of subsidiaries — Signatureglobal Homes, Signature Infrabuild, Signatureglobal Developers and Sternal Buildcon.
Gurugram-based property developer Signature Global is focused on affordable and mid-housing segments with a market share of 19 per cent.
As of March 2022, Signature Global had sold 23,453 residential and commercial units within the Delhi-NCR region, out of which 21.478 are residential units with an average selling price of Rs 28.1 lakh per unit.
The company’s sales have grown at a CAGR of 142.47 per cent from Rs 440.57 crore in fiscal 2021 to Rs 2,590.22 crore in fiscal 2022.
Capital Company, and are the book-running lead managers to the issue.
