Signatureglobal Board Clears Plan To Raise ₹8.75 Billion Via NCDs

The board of Signature Global (India) Ltd. has approved raising up to ₹8.75 billion through secured, listed, and redeemable non-convertible debentures, the company said in an exchange filing on Wednesday.

The funds will be raised on a private-placement basis in one or more tranches. The board has constituted a Debenture Committee with full authority to handle matters related to the issuance and allotment of these debentures and any related actions.

To facilitate the issuance, the board also approved amending the company’s articles of association to add a provision allowing appointment of a director nominated by the debenture trustees. It further approved issuing a postal ballot notice seeking shareholders' approval for the NCD issuance, increase in borrowing limits, creation of security, and related amendments to the articles of association.