Gurugram-based listed real estate developer Signature Global (India) Ltd has raised Rs 875 crore through a private placement of Non-Convertible Debentures (NCDs) to the International Finance Corporation (IFC), the lending arm of the World Bank.
Having a coupon rate of 11 percent, the tenure of the NCDs is for 3 years, 2 months and 30 days. The NCDs will mature on January 15, 2029. NCDs function as debt instruments, where investors lend money to the developer and, in return, receive a predetermined interest rate over a specified duration.
Pradeep Aggarwal, Founder and Chairman, Signature Global, said that the company will Signature Global will utilise the proceeds to develop mid-income housing and ESG aligned projects.
“We have raised Rs 875 crore by issuance of NDCs to the International Finance Corporation for a period of over three years. Reposing of faith by institution of repute like IFC is a testimony of our right approach and direction. Out of Rs 875 crore, around Rs 470 crore will be utilised for the payment of existing debt while the remaining over Rs 400 crore will be used to fund mid-income housing projects located in the Sohna region of Gurugram,” he said.
Aggarwal said that the company has a strong focus on developing environment friendly projects and as many as 19 projects by Signature Global are EDGE certified.
The NCDs, which are assigned ‘A+’ stable ratings by Care Edge Ratings, have already been listed on BSE and its marks the first ever listed debt transaction of Signature Global, thus strengthening the company’s capital market presence in partnership with IFC, the company said.
In FY 2024-25, Signature Global was ranked as the fifth-largest listed real estate developer based on sales bookings. The company had achieved pre-sales of Rs 10,290 crore in the previous fiscal and it is targeting Rs 12,500 crore in the current financial year.
As of Q1FY26, the company has a robust project pipeline of 17.1 million sq. ft. of recently launched projects, and 9.2 million sq. ft. of ongoing projects. The company has 24.5 million sq. ft. of forthcoming developments to be developed over next 2-3 years.
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