KBC International, a development 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 permitted a proposal to extend authorised capital and proposed renaming KBC International to Dharan Infra-EPC or one other title permitted 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 ebook of over ₹260 crore and market capitalisation of ₹290 crore.
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It should problem shares value ₹261 crore as bonus shares which can be credited in 60 days. The corporate’s share capital will double to ₹523 crore submit 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 by way of 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 can be transformed into one fairness share with a face worth of ₹1 every absolutely paid up. The proceeds of the fairness problem can be used for the compensation of debt.
