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Patanjali Food & Herbal Park, Falcone Peak Fund, others to invest Rs. 99.50 crore in KBC Global Ltd
- Patanjali Food and Herbal Park, Falcone Peak Fund, and others have agreed to invest up to Rs. 99.50 crore in KBC Global Ltd through a convertible preferential warrants issue.
- The company will issue 45.23 crore warrants on a preferential basis at Rs. 2.20 per warrant, with each warrant being convertible into one equity share of face value of Rs. 1 each.
- The funds from the equity issue will be used for debt repayment.
- The extraordinary general meeting of the company is scheduled for November 15, 2024.
- KBC International's subsidiary in Ghana has signed a memorandum of understanding with Liberia SEZ Authority for the development of residential, commercial, and low-cost housing projects estimated to cost $12.5m.
- KBC Global's subsidiary, Karda International Infrastructure Ltd, has secured a $20m subcontract in civil engineering for soft infrastructure from CRJE (East Africa) Ltd in June 2024.
- The company has entered into a memorandum of understanding with Capri Global Capital Ltd, receiving a waiver of non-financial penal interest.
- KBC Global has commenced a new project in Deolali, Nashik, consisting of six commercial and 22 residential units.
- The company has handed over possession of over 135+ residential and commercial units since April 2024.
- Ms. Muna Makki has been appointed as an Executive Director of KBC Global Ltd, subject to the approval of members.
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