KBC Global, a construction and real estate company, plans to raise about ₹100 crore by way of equity issuance. The board will meet on Wednesday to consider and approve the fund raising proposal.
The company will consider various fund raising options including preferential allotment, warrants and other permissible mode or combination thereof in one or more tranches. The proceeds of the equity issue will be utilised for debt repayment.
KBC International, Ghana drop-down subsidiary of KBC Infrastructure, UK, has entered into a Memorandum of Understanding with Liberia Special Economic Zone Authority for construction and development of residential building complexes, low cost housing and commercial space in SEZ with an estimated cost of $12.5 million. The project will commence commence from second quarter of next year 2025 and is expected to be completed in three years.