Acquisitions29 March 2026 at 04:31 pm
Signatureglobal (India) Ltd. Approves Acquisition of Residential Project and Transfer of Shares in Subsidiary
AI Summary
Signatureglobal (India) Ltd. announced the outcomes of its board meeting held on 29th March, 2026. The company approved the acquisition of a residential project from its subsidiary, Gurugram Commercity Limited (GCL), for a lumpsum consideration of Rs. 50,00,00,000. The company also approved the transfer and sale of 35,69,731 equity shares of GCL to Millennia Realtors Private Limited (RMZ) at a price of Rs. 158.84 per share, amounting to a total consideration of ~Rs. 56.70 crores. This transaction will result in GCL ceasing to be a wholly-owned subsidiary of the company. The board meeting concluded at 18:48 Hours.
Key Highlights
- Signatureglobal (India) Ltd. approved the acquisition of a residential project from its subsidiary, Gurugram Commercity Limited (GCL), for a lumpsum consideration of Rs. 50,00,00,000.
- The company also approved the transfer and sale of 35,69,731 equity shares of GCL to Millennia Realtors Private Limited (RMZ) at a price of Rs. 158.84 per share, amounting to a total consideration of ~Rs. 56.70 crores.
- Upon transfer of the shares, GCL will cease to be the wholly owned subsidiary of the Company.
- The transaction will be effective upon the execution of a Business Transfer Agreement, Joint Development Agreement, and other related documents.
- The board meeting was held on 29th March, 2026, and concluded at 18:48 Hours.