Signatureglobal India Ltd approves investment in Signatureglobal Business Park Pvt Ltd

The Board of Directors of SIGNATUREGLOBAL (INDIA) LIMITED (Formerly known as Signatureglobal (India) Private Limited) in its meeting held today i.e. 5th March, 2024, with a view to comply with the requirement of minimum paid up capital of Rs, 35,00,00,000 (Rupees Thirty Five crore only) of Signatureglobal Business Park Private Limited (SBPPL), a wholly owned subsidiary, has approved the investment of Rs. 29,90,00,000 (Rupees Twenty Nine Crore Ninety Lakhs only) in the 2,99,00,000 (Two Crore Ninety Nine Lakhs) equity shares of Rs.10 each of SBPPL for cash at par.

SBPPL has received LOI from Directorate of Town & Country Planning (DTCP), Haryana for setting up a project over an area of 128.69 acres and as stipulated by one of the conditions by DTCP, SBBPL has to ensure to have a minimum paid up capital of Rs. 35 crore.

SBPPL is a Wholly Owned Subsidiary of the Company and engaged in the Real Estate Development business. There was no business in SBPPL during the last three years.

Shares of Signatureglobal India Limited was last trading in BSE at Rs. 1403.50 as compared to the previous close of Rs. 1424.15. The total number of shares traded during the day was 62273 in over 1057 trades.

The stock hit an intraday high of Rs. 1423.95 and intraday low of 1381.00. The net turnover during the day was Rs. 87166405.00.

Source : Equity Bulls

Keywords

SignatureglobalIndia Residential Commercial INE903U01023 Investment SignatureglobalBusinessPark