Secondary Issues
Construction co. KBC Global raises Rs.100-Cr led by Falcone Peak Fund
Mumbai-headquartered construction and infrastructure firm KBC Global , formerly known as Karda Constructions Ltd., has raised INR 99.5 crore from Falcone Peak Fund, Patanjali Food and Herbal Park and other investors. The company would issue 45.23 crore warrants on a preferential basis to investors at a price of INR 2.20 per warrant. The company will use the proceeds to repay debt.Out of the total issue, Falcone Peak Fund (CEIC) Ltd will be allotted 26 crore warrants for around INR 57.2 crore. Patanjali Parivahan Pvt Ltd and Patanjali Food and Herbal Park will be allotted 4.55 crore warrants and Foresight Holding Pvt Ltd is expected to be allotted 2.28 crore warrants.Post issue of the warrants, the shareholding of Falcone Peak Fund (CEIC) Ltd in KBC Global Ltd is expected to be 8.48 %, that of Patanjali around 1.48 % and that of Foresight Holding Pvt Ltd around 1.04 %. The warrants shall be converted into equity shares within 18 months of the allotment and receipt of the remaining amount.
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