New Delhi, June 27 -- Realty firm Signature Global plans to raise up to Rs 875 crore through issue of non-convertible debentures to refinance debt and expand business.

Signature Global's board approved the raising of funds by issuance of Secured Listed Redeemable Non-Convertible Debentures (NCDs), for an amount not exceeding Rs 875 crore on private placement basis, in one or more tranches.

When contacted, Signature Global Chairman Pradeep Kumar Aggarwal told PTI, "We have taken the approval of board to raise funds. We will also seek shareholders approvals."

He said the company will use Rs 450 crore to refinance its existing debt while the remaining amount will be for business growth.

Aggarwal said the company is targeting to raise fun...