Signatureglobal (India) Extends Deadline for Gurugram Commercity Stake Sale Deal

MT Newswires Live03-24

Signatureglobal (India) (NSE:SIGNATURE, BOM:543990) said the completion date of its securities subscription and purchase agreement for Gurugram Commercity stake sale has been extended to March 31 from March 23, according to a filing on Indian bourses.

Shares of Signatureglobal fell over 2% in Tuesday's trade.

The agreement involves its subsidiary Gurugram Commercity (GCL) and Millennia Realtors (RMZ), under which the company will sell a stake in GCL and the subsidiary will issue shares to RMZ for a total consideration of up to 12.8 billion rupees.

Upon completion, Signatureglobal and RMZ will hold 50% each in GCL, and it will cease to be a subsidiary of the company, the filing said.

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