Mumbai, 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 its 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, a release said.
Signature Global Chairman Pradeep Kumar Aggarwal, said, "We have taken the approval of board to raise funds. We will also seek shareholders approvals.the company will use Rs 450 crore to refinance its existing debt while the remaining amount will be for business growth. the company is targeting to raise funds by the end of August, subje...