PN Nashik (Maharashtra) [India], May 10: US-based Minerva Ventures Fund has bought 2 per cent equity stake in KBC Global Ltd - formerly known as Carda Construction Ltd.
) BSE - 541161, a leading player in the construction and real estate development sector, as per bulk deal data available, Minerva Ventures Fund has bought 1 per cent equity (1 crore shares) of KBC Global Ltd for Rs. 2.05 per share on the National Stock Exchange on 26 April 2020. The fund again purchased 1 per cent equity (1 crore shares) of KBC Global Limited at Rs. 2.10 per share on April 30, 2024.Fun purchased 2 percent equity shares of KBC Global Limited by investing a total of Rs 4.15 crore. The company has also announced a strategic plan for expansion in both domestic and international markets. On the occasion of Gudi Padwa, the company has successfully handed over the possession of 54 units of Hari Kun Mayflower (MAHARERA Registration No.: P51600020249), a residential cum commercial project located at Karmayogi Nagar, Nashik, Maharashtra in the month of April 2024. The Board of Directors considered and approved the conversion of a total of 60 bonds into equity shares as per the terms and conditions of the issue of FCCB. Established in 2007, the company has made significant progress in the real estate industry, specializing in the development and sale of residential buildings.Residential-cum-Office Projects in Nashik, India. The company operates Primereal in two segments: construction and development of residential and commercial projects, and contractual projects. Notable projects of the company include Har Gokuldham, Hari Nakshatra-II Easttext Township, Hari Sanskriti II, Hari Siddhi and Hari Samarth. Commenting on the growth trajectory of the company, Naresh Karda, Chairman and Managing Director, KBC Global Limited said, “We are excited about the opportunities ahead in both the domestic and international markets, with our strategic initiatives, strong portfolio of projects and clear focus on expansion, Carda Construction Limited is poised to emerge as a major player in the truly global real estate landscape The property sector is poised for continued growth, driven by factors such as supply and demand dynamics, regulatory framework and overall economic conditions such as “Housing for All” and the Pradhan Mantri Awas Yojana, which further underline the growth prospects in the industry. Infrastructure megaprojects such as highways, airports and metros are contributing to the expansion of the real estate market. Additionally, KBC International Limited, a step-down subsidiary of KBC Globa Limited and a wholly owned subsidiary of KBC Global FZCO. The subsidiary company has signed the memorandum. Intended with the Federal Housing Authority (FHA) in the Republic of Nigeria.The agreement reflects KBC International Limited's interest in partnering with FHA as an engineering procurement and financing contractor for the development of low-cost housing projects in Africa, marking the company's entry into the international real estate market. . To support its expansion efforts, the company has successfully worked. Funds were raised by issuing 950 foreign currency convertible bonds, each worth US$100,000. These bonds are listed on the AFRINEX Securities List of AFRINE Limited, Mauritius, with effect from January 17, 2023. In a recent development, the Board of Directors of the company approved the revised term sheet for the fund in its meeting held on March 29, 2024.An amount of US$95,000,000.00 was borrowed through the issuance and allotment of 95 unsecured foreign currency convertible bonds due November 21, 2022. In fiscal year 2022-2023, Carda Construction Limited posted revenue of Rs.10,818.56 lakh
) BSE - 541161, a leading player in the construction and real estate development sector, as per bulk deal data available, Minerva Ventures Fund has bought 1 per cent equity (1 crore shares) of KBC Global Ltd for Rs. 2.05 per share on the National Stock Exchange on 26 April 2020. The fund again purchased 1 per cent equity (1 crore shares) of KBC Global Limited at Rs. 2.10 per share on April 30, 2024.Fun purchased 2 percent equity shares of KBC Global Limited by investing a total of Rs 4.15 crore. The company has also announced a strategic plan for expansion in both domestic and international markets. On the occasion of Gudi Padwa, the company has successfully handed over the possession of 54 units of Hari Kun Mayflower (MAHARERA Registration No.: P51600020249), a residential cum commercial project located at Karmayogi Nagar, Nashik, Maharashtra in the month of April 2024. The Board of Directors considered and approved the conversion of a total of 60 bonds into equity shares as per the terms and conditions of the issue of FCCB. Established in 2007, the company has made significant progress in the real estate industry, specializing in the development and sale of residential buildings.Residential-cum-Office Projects in Nashik, India. The company operates Primereal in two segments: construction and development of residential and commercial projects, and contractual projects. Notable projects of the company include Har Gokuldham, Hari Nakshatra-II Easttext Township, Hari Sanskriti II, Hari Siddhi and Hari Samarth. Commenting on the growth trajectory of the company, Naresh Karda, Chairman and Managing Director, KBC Global Limited said, “We are excited about the opportunities ahead in both the domestic and international markets, with our strategic initiatives, strong portfolio of projects and clear focus on expansion, Carda Construction Limited is poised to emerge as a major player in the truly global real estate landscape The property sector is poised for continued growth, driven by factors such as supply and demand dynamics, regulatory framework and overall economic conditions such as “Housing for All” and the Pradhan Mantri Awas Yojana, which further underline the growth prospects in the industry. Infrastructure megaprojects such as highways, airports and metros are contributing to the expansion of the real estate market. Additionally, KBC International Limited, a step-down subsidiary of KBC Globa Limited and a wholly owned subsidiary of KBC Global FZCO. The subsidiary company has signed the memorandum. Intended with the Federal Housing Authority (FHA) in the Republic of Nigeria.The agreement reflects KBC International Limited's interest in partnering with FHA as an engineering procurement and financing contractor for the development of low-cost housing projects in Africa, marking the company's entry into the international real estate market. . To support its expansion efforts, the company has successfully worked. Funds were raised by issuing 950 foreign currency convertible bonds, each worth US$100,000. These bonds are listed on the AFRINEX Securities List of AFRINE Limited, Mauritius, with effect from January 17, 2023. In a recent development, the Board of Directors of the company approved the revised term sheet for the fund in its meeting held on March 29, 2024.An amount of US$95,000,000.00 was borrowed through the issuance and allotment of 95 unsecured foreign currency convertible bonds due November 21, 2022. In fiscal year 2022-2023, Carda Construction Limited posted revenue of Rs.10,818.56 lakh
