KBC International, a building and actual property growth firm, will subject bonus shares within the ratio of 1:1, topic to shareholders approval.
The Board of Administrators has additionally authorised a proposal to extend authorised capital and proposed renaming KBC International to Dharan Infra-EPC or one other title authorised by the Registrar of Firms.
The corporate has additionally appointed Naresh Karda as chairman of its UK subsidiary KBC Infrastructure.
The corporate has an order ebook of over ₹260 crore and market capitalisation of ₹290 crore.
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It should subject shares value ₹261 crore as bonus shares which will likely be credited in 60 days. The corporate’s share capital will double to ₹523 crore submit the bonus subject.
The corporate will announce the “Document 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 subject 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 totally paid up. The proceeds of the fairness subject will likely be used for the compensation of debt.
