Latest News | KBC Global Raises Nearly Rs 100 Cr from Falcone Peak Fund, Patanjali Food and Herbal Park

New Delhi, Oct 21 (PTI) Construction and infrastructure firm KBC Global has raised nearly Rs 100 crore from Falcone Peak Fund, Patanjali Food and Herbal Park and other investors, a statement said on Monday.

The company raised around Rs 99.50 crore through an issue of 45.23 crore warrants on a preferential basis to investors, the company said. The company board has approved the issuance of warrants at a price of Rs 2.20 per warrant, it added.

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Out of the total issue, Falcone Peak Fund (CEIC) Ltd will be allotted 26 crore warrants for around Rs 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, the company said.

Post issue of the warrants, the shareholding of Falcone Peak Fund (CEIC) Ltd in KBC Global Ltd is expected to be 8.48 per cent, Patanjali companies around 1.48 per cent and Foresight Holding Pvt Ltd around 1.04 per cent respectively. The warrants shall be converted into equity shares within 18 months of the allotment and receipt of the remaining amount, the company said.

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The company will utilise the proceeds to repay debt.

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