KBC Global gets a marquee investor

Singapore based fund Maybank Kim Eng Securities Pte picks up stake in KBC Global

Singapore-based fund Maybank Kim Eng Securities Pte Ltd has picked up a stake in KBC Global Ltd of 35 lakh shares at Rs 9.99 per share as per bulk deal data available on NSE. KBC Global is a leading player in the affordable and mid-income housing segment. A couple of days ago per bulk deal data available on NSE, Rama Krishna Varma Pemetsa had picked up 37 lakh shares at Rs 9.75 on April 19, 2022. 

KBC Global Ltd is a first-generation construction company. It has established a brand name as “Hari” for all its projects. The company’s business activity falls within two segments, Development of Real Estate Properties and Civil Contracting Business. 

Company had recently announced the commencement of construction work of 1,72,500 sq. ft at Hari Laxmi Phase I, Il & Ill located at Mahalaxmi Road, Deolali, Nashik. This project would build 180 residential units and are expected to generate Rs 60 crore in revenue. 

Reacting to this news, shares of the company rose over 2 per cent in the early hours of trade and touched a high of Rs 10.07 on the BSE. The scrip is currently trading at Rs 9.75.