Property Developer Signature Global has raised Rs 875 crore through a private placement of non-convertible debentures (NCDs) to the International Finance Corporation (IFC), the lending arm of World Bank.
The NCDs, which are assigned ‘A+’ stable ratings by Care Edge Ratings, are listed on the BSE. 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.
Signature Global will utilise the proceeds to develop mid-income housing and ESG aligned projects. A part of it will also be utilised for reducing existing debt, it said.
“We will utilise the proceeds for development of mid-income housing particularly for ESG aligned projects,” said Pradeep Aggarwal, founder and chairman, Signature Global, said.
As of Q1FY26, the company had project pipeline of 17.1 million sq ft of 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 the next 2-3 years.