Nashik (Maharashtra) [India], May 10: US-based Minerva Ventures Fund has bought 2% equity stake in KBC Global Ltd (formerly known as Carda Construction Ltd) - BSE - 541161, a major in th Players and Real Estate Development Sector.
As per available bulk deal data, Minerva Ventures Fund has bought 1% equity (crore shares) of KBC Global Ltd for Rs. 2.05 per share on the National Stock Exchange on April 26, 2024. The fund again purchased 1% equity (1 crore shares) of KB Global Limited for Rs. 2.10 per share on 30 April 2024.The fund purchased a total of 2 equity shares of KBC Global Limited. 4.15 crores.
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 strides in the real estate industry, specializing in the development and sale of residential and 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 Eastext Township, Hari Sanskriti II, Hari Siddhi and Hari Samarth etc.
Commenting on the company's growth trajectory, Mr. Naresh Karda, Chairman and Managing Director, KBC Global Limited, said, “We are excited about the opportunities ahead in both the domestic and international markets. Our strategic initiatives, strong portfolio of projects and a With a clear focus on expansion, Carda Construction Limited is set to emerge as a major player in the global real estate landscape.”
The real estate sector is poised for continued growth, driven by factors such as supply and demand dynamics, regulatory framework and overall economic conditions.Government initiatives such as “Housing for All” and Pradhan Mantri Awas Yojana further underline the growth potential in the industry. Furthermore, infrastructure mega projects like highways, airports and metros are contributing to the expansion of the real estate market.
Furthermore, KBC International Limited, a step-down subsidiary of KBC Globa Limited and a wholly owned subsidiary of KBC Global FZCO, has signed a Letter of Intent 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 raised funds by issuing 950 foreign currency convertible bonds, each valued at US$100,000.These bonds are listed on the AFRINEX Securities List of AFRINE Limited, Mauritius, with effect from January 17, 2023.
In a recent development, the Board of Directors of the Company in its meeting held on March 29, 2024 approved the amended term sheet to borrow funds amounting to US$ 95,000,000.00 through the issuance and allotment of 95 unsecured foreign currency convertible bonds in November. Gave. 21, 2022.
In the financial year 2022-2023, Carda Construction Limited has committed Rs. Recorded revenue of Rs.10,818.56 lakh.
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As per available bulk deal data, Minerva Ventures Fund has bought 1% equity (crore shares) of KBC Global Ltd for Rs. 2.05 per share on the National Stock Exchange on April 26, 2024. The fund again purchased 1% equity (1 crore shares) of KB Global Limited for Rs. 2.10 per share on 30 April 2024.The fund purchased a total of 2 equity shares of KBC Global Limited. 4.15 crores.
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 strides in the real estate industry, specializing in the development and sale of residential and 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 Eastext Township, Hari Sanskriti II, Hari Siddhi and Hari Samarth etc.
Commenting on the company's growth trajectory, Mr. Naresh Karda, Chairman and Managing Director, KBC Global Limited, said, “We are excited about the opportunities ahead in both the domestic and international markets. Our strategic initiatives, strong portfolio of projects and a With a clear focus on expansion, Carda Construction Limited is set to emerge as a major player in the global real estate landscape.”
The real estate sector is poised for continued growth, driven by factors such as supply and demand dynamics, regulatory framework and overall economic conditions.Government initiatives such as “Housing for All” and Pradhan Mantri Awas Yojana further underline the growth potential in the industry. Furthermore, infrastructure mega projects like highways, airports and metros are contributing to the expansion of the real estate market.
Furthermore, KBC International Limited, a step-down subsidiary of KBC Globa Limited and a wholly owned subsidiary of KBC Global FZCO, has signed a Letter of Intent 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 raised funds by issuing 950 foreign currency convertible bonds, each valued at US$100,000.These bonds are listed on the AFRINEX Securities List of AFRINE Limited, Mauritius, with effect from January 17, 2023.
In a recent development, the Board of Directors of the Company in its meeting held on March 29, 2024 approved the amended term sheet to borrow funds amounting to US$ 95,000,000.00 through the issuance and allotment of 95 unsecured foreign currency convertible bonds in November. Gave. 21, 2022.
In the financial year 2022-2023, Carda Construction Limited has committed Rs. Recorded revenue of Rs.10,818.56 lakh.
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