India, Oct. 28 -- "We will use Rs.470 crore to repay existing debt. The remaining fund would be utilised for development of projects, including land acquisition," he said.

The company had a net debt of around Rs.900 crore at the end of second quarter of this fiscal.

The NCDs, which are assigned 'A+' stable ratings by Care Edge Ratings, have already been listed on BSE and it marks the first ever listed debt transaction of Signature Global, thus strengthening the company's capital market presence in partnership with IFC. Having a coupon rate of 11%, the tenure of the NCDs is for three years, two months and 30 days. The NCDs will mature on January 15, 2029.

"Ever since our inception we have focused on key pillars of customer satisfaction,...