KBC Global Ltd Eyes Rs 100 Crore Equity Boost

KBC Global Ltd plans to raise up to Rs 100 crore by issuing equity shares, to manage debts. They have regularized payments with Capri Global Capital Ltd and are developing housing projects in Liberia and Nashik.

Construction heavyweight KBC Global Ltd announced plans to raise up to Rs 100 crore through an equity issue, a strategic move aimed at debt repayment. The company's board will assemble on October 16 to deliberate and potentially approve this fund-raising initiative, which may include preferential allotment and warrants.

As of March 31, 2024, KBC Global's outstanding debt stood at Rs 75.86 crore. The company has made strides in debt management, having settled dues with Capri Global Capital Ltd by September 19 and bringing their current outstanding balance down to Rs 13.50 crore.

Further expanding its horizons, a subsidiary of KBC Global recently inked a deal with the Liberia Special Economic Zone Authority for an ambitious residential and commercial project worth USD 12.5 million. In addition, they have initiated a new venture at Deolali in Nashik, comprising six commercial and 22 residential units.

(With inputs from agencies.)