KBC Global Plans to Raise Rs 1 Billion through Equity Shares
Construction and infrastructure company KBC Global has announced its plan to raise up to Rs 1 billion through the issuance of equity shares. The company’s board will review and approve a proposal for raising the funds through equity share issuance via various permissible methods, including preferential allotment and warrants. This move is seen as a strategic measure to strengthen the company’s financial position and repay its outstanding debt.
Debt Repayment and Outstanding Balance
KBC Global has expressed its intention to utilize the proceeds from the equity issue to repay its debt. As of March 31, 2024, the company had an outstanding loan balance of Rs 750.86 million. By raising additional funds, the company aims to reduce its debt burden and improve its overall financial stability.
Furthermore, KBC Global recently fulfilled its payment obligation to Capri Global Capital, completely regularizing a previous default that occurred on September 19, 2024. The outstanding balance with Capri Global Capital now stands at Rs 130.50 million. This successful payment further demonstrates the company’s commitment to meeting its financial obligations and restoring trust with its stakeholders.
Expansion and Collaboration with Liberia Special Economic Zone Authority
In a significant development, a subsidiary of KBC Global has signed a Memorandum of Understanding (MoU) with the Liberia Special Economic Zone Authority. The MoU outlines plans to construct and develop residential complexes, low-cost housing, and commercial spaces within the SEZ. The estimated cost of this project is $12.5 million, reflecting KBC Global’s ambition to expand its presence in promising international markets.
This collaboration presents a valuable opportunity for KBC Global to leverage its expertise in construction and infrastructure development to contribute to Liberia’s economic growth and create sustainable urban spaces for residents and businesses within the SEZ. The project is expected to generate employment opportunities, boost local trade, and foster economic development in the region.
New Project in Deolali, Nashik Maharashtra
Alongside its international ventures, KBC Global has embarked on a new project in Deolali, Nashik Maharashtra. This project involves the construction of six commercial units and 22 residential units. By undertaking this endeavor, KBC Global aims to meet the growing demand for modern and affordable spaces in Maharashtra.
The introduction of commercial units will facilitate business growth, attract investments, and contribute to the local economy. Moreover, the provision of residential units will address the housing needs of the population, fostering vibrant communities in Deolali.
Advancing Ahead
With its plan to raise funds through equity shares, KBC Global demonstrates its commitment to financial sustainability and debt reduction. The collaboration with the Liberia Special Economic Zone Authority signifies the company’s determination to expand its geographical footprint and capitalize on opportunities in international markets. Furthermore, the new project in Deolali showcases KBC Global’s dedication to providing modern and affordable spaces in response to market demand.
As KBC Global advances ahead with its strategic initiatives, it positions itself for further growth and success in the construction and infrastructure industry. The company’s ability to adapt to changing market dynamics and pursue innovative ventures establishes its prominent presence and contributes to the overall development of the sector.
