SignatureGlobal to raise INR8.75bn via debenture issuance

SIGNATUREGLOBAL (INDIA) has announced its Board of Directors' approval to raise funds of up to INR8,750,000,000 through secured, listed, redeemable non-convertible debentures (NCDs) via private placement. The issuance may occur in one or more series or tranches, subject to necessary approvals. A "Debenture Committee" has been formed, authorized, and delegated with powers related to the issuance and allotment of the NCDs. The company will seek shareholder approval via postal ballot for the NCD issuance, enhancement of borrowing limit, security creation limit, and alteration of the Articles of Association, which will allow for the appointment of a director nominated by the Debenture Trustee(s). Pursuant to insider trading regulations, the trading window for company securities remains closed until June 27, 2025.