Joint Venture14 Feb 2026, 11:51 am
Signatureglobal (India) Ltd. to Sell 50% Stake in Subsidiary Gurugram Commercity Limited to RMZ for INR 1283 Crores
AI Summary
Signatureglobal (India) Ltd. has approved the execution of a Securities Subscription and Purchase agreement (SSPA) with Millennia Realtors Private Limited (RMZ) for the sale of certain shares of Gurugram Commercity Limited (GCL) for an aggregate consideration of up to INR 1283 Crores. This will result in both the Company and RMZ holding 50% shareholding in GCL, causing GCL to cease being a subsidiary of the Company. The transaction also involves the execution of a Shareholders’ agreement and other ancillary documents. The proposed mixed-use project development represents the Company’s first large sized commercial real estate development within its existing land portfolio.
Key Highlights
- Signatureglobal (India) Ltd. to sell 50% stake in subsidiary Gurugram Commercity Limited to RMZ for INR 1283 Crores
- Upon completion of the proposed transaction, both the Company and RMZ will hold 50% shareholding in GCL
- GCL will cease to be a subsidiary of the Company post transaction
- Transaction involves execution of a Shareholders’ agreement and other ancillary documents
- Proposed mixed-use project development represents the Company’s first large sized commercial real estate development within its existing land portfolio