Signatureglobal (India) Limited 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 decision was made during a board meeting held on 29th March 2026.
The acquisition involves the transfer of a residential project located on approximately 7.513 acres of land in Sector 71, Gurugram, Haryana. This project includes development rights, assets, liabilities, employees, and other related components. The transfer will occur on a going concern and slump sale basis, as outlined in the Residential Documents.
In addition to the acquisition, Signatureglobal has also approved the transfer and sale of 35,69,731 equity shares of ₹10 each held by the company in GCL to Millennia Realtors Private Limited (RMZ) at a price of ₹158.84 per equity share. This transaction amounts to a total consideration of approximately ₹56.70 crore.
Following this share transfer, GCL will cease to be a wholly-owned subsidiary of Signatureglobal. The revised agreed consideration for RMZ to acquire 50% of GCL’s share capital is now set at up to ₹1,293.47 crore, which includes a primary subscription of securities and the purchase of securities from Signatureglobal.
The board meeting where these decisions were made commenced at 18:18 hours and concluded at 18:48 hours.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).