Consider and Approve the acquisition of 30,000 Equity Shares of M/s Rajhans Procon Private Limited("RPPL")
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The board of Kachchh Minerals approved the acquisition of 100% (30,000 equity shares) of Rajhans Procon Private Limited (RPPL), a real estate company with a provisional turnover of ₹27.50 crores, for a total consideration of ₹206.74 crores. Instead of cash, the company will issue 7.38 crore fresh equity shares at ₹28 per share (including ₹18 premium) to RPPL's shareholders, making RPPL a wholly owned subsidiary. This represents massive dilution, as the company currently has an authorized capital of just ₹10 crores (1 crore shares), which the board also proposed increasing to ₹90 crores to accommodate the issuance. Additionally, the board approved a major overhaul of the company's main objects clause, adding businesses ranging from agriculture and beverages to real estate, construction, and cinema, signaling a pivot away from its minerals identity. An EGM is scheduled for May 23, 2025 to seek shareholder approval.
Existing shareholders will face significant dilution — up to 7.38 crore new shares will be issued, multiplying the share count roughly sevenfold — while the company is fundamentally repositioning itself from minerals into real estate, agriculture, and other diversified sectors. The stock may see pressure from the large share issuance and the dramatic change in business direction, though it could also attract investors betting on the new real estate exposure.