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KBC Global Ltd, a construction and infrastructure company, announced on Tuesday that it aims to raise up to ₹100 crore by issuing equity shares. The company’s board will meet on October 16 (Wednesday) to discuss and approve this proposal, which may include options like preferential allotment and warrants.
The funds from this equity issue will be used to pay off existing debt. As of March 31, 2024, KBC Global had total outstanding loans of ₹75.86 crore.
On September 21, 2024, KBC Global successfully met its payment obligations to Capri Global Capital Ltd, resolving a previous default on September 19, 2024. The current outstanding balance with Capri Global Capital is ₹13.50 crore.
Additionally, a subsidiary of KBC Global recently signed a memorandum of understanding (MoU) with the Liberia Special Economic Zone Authority to build residential complexes, low-cost housing, and commercial spaces in the SEZ at an estimated cost of $12.5 million.
The company has also started a new project in Deolali, Nashik (Maharashtra), which includes six commercial and 22 residential units.
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