Joint Ventures30 March 2026 at 04:21 pm
Signatureglobal (India) Ltd Completes Transaction: Now Holds 50% Shareholding in Gurugram Commercity Limited
AI Summary
Signatureglobal (India) Ltd has completed the transfer and sale of 35,69,731 equity shares in Gurugram Commercity Limited (GCL) to Millennia Realtors Private Limited (RMZ) at a price of ~Rs. 158.84 per share. Simultaneously, GCL has allotted 7,78,60,538 equity shares to RMZ for ~Rs. 1,236.77 Crores. Post-transaction, both the Company and RMZ each hold 50% shareholding in GCL, making it a 50:50 joint venture, effective from 30th March, 2026.
Key Highlights
- Signatureglobal (India) Ltd completes the transfer and sale of 35,69,731 equity shares in Gurugram Commercity Limited (GCL) to Millennia Realtors Private Limited (RMZ) at a price of ~Rs. 158.84 per share.
- Gurugram Commercity Limited (GCL) allots 7,78,60,538 equity shares to RMZ for ~Rs. 1,236.77 Crores.
- Both the Company and RMZ now hold 50% shareholding in GCL, making it a 50:50 joint venture, effective from 30th March, 2026.
- Gurugram Commercity Limited (GCL) ceases to be a subsidiary of the Company.
- The total consideration for the transaction is ~Rs. 56.70 crores and ~Rs. 1,236.77 Crores from the Company and RMZ respectively.