Signature Global sells housing properties worth Rs 1,330 cr in Apr-Sep FY23
Realty firm Signature Global, which plans to launch a public issue soon, has sold properties worth Rs 1,330 crore in the first half of this fiscal.
The company had achieved sales bookings of Rs 2,590 crore in the entire previous financial year.
Credit rating agency Icra has mentioned this in a report while reaffirming its rating with a stable outlook on Signature Global's term loans.
Signature Global has got market regulator Sebi's nod to launch its Initial Public Offer (IPO) to raise up to Rs 1,000 crore for reducing debt and future expansion.
The IPO comprises a fresh issue of equity shares and an offer for sale (OFS).
In its report, Icra said the rating factors in the healthy sales velocity of the Signature Global Group's projects in 2021-22 and the first six months of this fiscal on the back of good response to the company's new project launches.
The group sold a 5.46 million square feet area with a value of Rs 2,590 crore in FY22 and 1.84 million square feet for Rs 1,330 cr