SignatureGlobal (India) Limited announced the final completion of transactions related to its investment in Gurugram Commercity Limited (GCL). The company and Millennia Realtors Private Limited (RMZ) have now concluded the share transfer and allotment processes. As a result, GCL has ceased to be a subsidiary and has formally converted into a 50:50 joint venture between SignatureGlobal and RMZ, effective March 30, 2026.
Finalization of Strategic Partnership Transactions
SignatureGlobal (India) Limited provides an update on the transactions executed pursuant to the Securities Subscription and Purchase Agreement (SSPA) involving the Company, Gurugram Commercity Limited (GCL), and Millennia Realtors Private Limited (RMZ). The completion of these key transactions occurred on March 30, 2026.
Key Transaction Details
The completion involved two primary steps:
- The Company (along with its three nominees) completed the transfer and sale of 35,69,731 equity shares in GCL to RMZ (and its nominees). The sale price was approximately Rs. 158.84/- per equity share, aggregating a total consideration of approximately Rs. 56.70 crores.
- GCL subsequently allotted 7,78,60,538 equity shares to RMZ for a total consideration of Rs. 1,236.77 Crores.
Restructuring of Shareholding
Following the successful completion of these transfers and allotments on March 30, 2026, the ownership structure of GCL has fundamentally changed. The Company and RMZ now each hold an equal 50% shareholding in GCL. Consequently, GCL has officially ceased to be a subsidiary of SignatureGlobal and is now established as a 50:50 joint venture between the Company and RMZ.
Source: BSE
