Realty firm Signature Global’s net debt declined 66 per cent to Rs 369.96 crore at the end of the September quarter from Rs 1,093.89 crore at the end of last fiscal year.
“Our net debt reduced to Rs 369.96 crore at the end of HI, FY24 from Rs 1,093.89 crore at the end of FY23,” Gurugram-based Signature Global said in its latest operational update submitted on stock exchanges.
Last month, Signature Global successfully launched its Initial Public Offering (IPO) to raise Rs 730 crore. The public issue, comprising a fresh issue of shares worth Rs 603 crore and an Offer For Sale (OFS) component of Rs 127 crore, was subscribed 11.88 times.
“We have been able to reduce our net debt significantly in the second quarter following funds raised through initial public offer (IPO),” Pradeep Kumar Aggarwal, Chairman and Whole-Time Director of Signature Global, said.
On operational performance, Signature Global reported a 38 per cent growth in sales bookings at Rs 1,861.39 crore in the first six .
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