New Delhi: Realty firm Signature Global (India) Ltd has filed preliminary papers with capital markets regulator Sebi to raise Rs 1,000 crore through an initial public offering (IPO). The IPO will comprise a fresh issue of equity shares worth up to Rs 750 crore and an Offer for Sale (OFS) of up to Rs 250 crore, according to the draft red herring prospectus (DRHP) filed on Tuesday.
As a part of the OFS, promoter Sarvpriya Securities and investor International Finance Corporation will sell equity shares worth up to Rs 125 crore each. The company proposes to utilise the net proceeds from the fresh issue towards payment of the debt, inorganic growth through land acquisitions and general corporate purposes.
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