Penny Stock Under Rs 5 In Green As Company Is Likely To Raising Funds Up To Rs 100 Crore By Issue Of Equity Shares
The stock is up by 48.4 per cent from its 52-week low of Rs 1.57 per share and it is trading at 0.29 times its book value.
On Monday, shares of KBC Global Ltd gained 2.64 per cent to Rs 2.33 per share from its previous closing of Rs 2.27 per share with a 1.70 times spurt in volume. The stock is up by 48.4 per cent from its 52-week low of Rs 1.57 per share and it is trading at 0.29 times its book value. The company has a market cap of Rs 393 crore.
KBC Global Ltd informed the Exchange that the meeting of the Board of Directors of the company is scheduled to be held on Wednesday, October 16, 2024, at the registered office inter alia to Consider and approve raising funds up to Rs 100 crore by issue of equity shares, through permissible modes, including but not limited to, preferential allotment, warrants or such other permissible mode or combinations thereof, in one or more tranches, as may be decided, subject to approval of the shareholders and regulatory and other approvals, each as may be required. The purpose of fundraising is to repay the debts including but not limited to statutory dues of the company,
KBC Global Limited is pleased to announce that it has successfully delivered 13 units to customers in September 2024. These units are part of three ongoing projects: Hari Kunj Mayflower (5 units), Hari Krishna Phase IV (4 units), and Hari Sanskruti Phase II (4 units). This achievement marks a significant milestone for the company as it continues to deliver high-quality homes to its valued customers.
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About the Company
KBC Global Ltd is a real estate company established in 2007 with a focus on construction, development, and civil contracting. As a part of the Karda Group, KBC Global specializes in residential and commercial real estate projects, ranging from 1BHK apartments to luxury penthouses. The company operates under a business model that involves acquiring properties, forming joint ventures, marketing and selling projects, and executing civil contracting projects. KBC Global has several ongoing projects, including Hari Vasant Twin Towers, Hari Kunj Mayflower, Karda Highstreet, Hari Aangan, and Hari Sanskruti. Additionally, KBC Global's subsidiary, KBC International Limited, has expressed interest in partnering with the Federal Housing Authority in Nigeria to develop low-cost housing projects in Africa.
Disclaimer: The article is for informational purposes only and not investment advice.