Signatureglobal (India) Limited’s Board of Directors has approved the acquisition of a residential project from its wholly-owned subsidiary, Gurugram Commercity Limited (GCL), for a lump sum consideration of ₹50 crore. The transaction involves transferring development rights over approximately 7.513 acres of land in Gurugram, Haryana.
The acquisition will be executed through a Business Transfer Agreement (BTA), Joint Development Agreement, and other related documents, collectively referred to as ‘Residential Documents’. These agreements facilitate the transfer of the residential project and grant development rights on a going concern and slump sale basis.
In addition to the acquisition, Signatureglobal has also approved the transfer and sale of 35,69,731 equity shares of GCL to Millennia Realtors Private Limited (RMZ) at a price of ₹158.84 per share, amounting to approximately ₹56.70 crore. This transaction will result in GCL ceasing to be a wholly-owned subsidiary of Signatureglobal.
Previously, RMZ had agreed to pay up to ₹1,283 crore to acquire 50% of GCL’s share capital through a combination of primary subscription and purchase of equity shares. This agreed consideration has now been revised to up to ₹1,293.47 crore, with RMZ investing approximately ₹1,236.77 crore in GCL and purchasing securities for up to ₹56.70 crore.
The Board meeting where these decisions were made commenced at 18:18 hours and concluded at 18:48 hours on 29th March 2026.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).