KBC World, a building and actual property growth firm, will problem bonus shares within the ratio of 1:1, topic to shareholders approval.
The Board of Administrators has additionally accepted a proposal to extend authorised capital and proposed renaming KBC World to Dharan Infra-EPC or one other identify accepted by the Registrar of Corporations.
The corporate has additionally appointed Naresh Karda as chairman of its UK subsidiary KBC Infrastructure.
The corporate has an order e-book of over ₹260 crore and market capitalisation of ₹290 crore.
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It is going to problem shares price ₹261 crore as bonus shares which will likely be credited in 60 days. The corporate’s share capital will double to ₹523 crore put up the bonus problem.
The corporate will announce the “Report Date” for Bonus Share eligibility in the end.
Lately, Patanjali Meals and Natural Park, Falcone Peak Fund had invested as much as ₹99.50 crore via convertible preferential warrants problem within the firm.
It had issued 45.23 crore warrants on a preferential foundation to non-promoters at ₹2.20 per warrant aggregating to ₹99.50 crore.
Every warrant will likely be transformed into one fairness share with a face worth of ₹1 every absolutely paid up. The proceeds of the fairness problem will likely be used for the reimbursement of debt.
