KBC International, a development and actual property improvement firm, will challenge bonus shares within the ratio of 1:1, topic to shareholders approval.
The Board of Administrators has additionally authorized a proposal to extend authorised capital and proposed renaming KBC International to Dharan Infra-EPC or one other identify authorized 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 e-book of over ₹260 crore and market capitalisation of ₹290 crore.
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It is going to challenge 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 publish the bonus challenge.
The corporate will announce the “Document Date” for Bonus Share eligibility sooner or later.
Not too long ago, Patanjali Meals and Natural Park, Falcone Peak Fund had invested as much as ₹99.50 crore by means of convertible preferential warrants challenge 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 challenge will likely be used for the compensation of debt.
