KBC Global Secures Rs 100 Crore from Key Investors

Construction firm KBC Global raised nearly Rs 100 crore, issuing 45.23 crore warrants on a preferential basis. Major investors include Falcone Peak Fund, Patanjali Food and Herbal Park. The funds will be used to repay debt, and the issued warrants will convert into equity shares within 18 months.

Construction giant KBC Global has successfully raised close to Rs 100 crore through strategic investments from Falcone Peak Fund, Patanjali Food and Herbal Park, alongside other investors, according to an official statement released on Monday.

The company managed to secure approximately Rs 99.50 crore by issuing 45.23 crore warrants on a preferential basis, evaluated at Rs 2.20 per warrant, as confirmed by the company board's approval. Significant allocations include 26 crore warrants to Falcone Peak Fund (CEIC) Ltd, amounting to roughly Rs 57.2 crore.

Patanjali Parivahan Pvt Ltd and Patanjali Food and Herbal Park will acquire 4.55 crore warrants, while Foresight Holding Pvt Ltd expects 2.28 crore warrants. These warrants will convert into equity shares within 18 months, facilitating debt repayment for KBC Global.

(With inputs from agencies.)