To discuss and Approve the proposal for Offer, issue and Allot Equity Shares of the Company on Preferential issue to the Shareholders of M/s Rajhans Procon Private Limited for consideration ....
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Kachchh Minerals Ltd has informed BSE that its Board of Directors will meet on April 24, 2025, to consider and approve a proposal to issue and allot equity shares of the company on a preferential basis to the shareholders of M/s Rajhans Procon Private Limited (RPPL). The consideration will be discharged entirely through a share swap (consideration other than cash), meaning Kachchh Minerals will issue its own shares to RPPL's shareholders instead of paying cash, effectively acquiring RPPL. The preferential issue will be carried out under Chapter V of the SEBI ICDR Regulations, 2018, and will be subject to shareholder approval at an ensuing extraordinary general meeting. The company has also closed its trading window for directors, designated persons, and connected persons ahead of the board meeting.
This is a non-cash acquisition where Kachchh Minerals will issue new equity shares to absorb RPPL, which will dilute existing shareholders of Kachchh Minerals but brings RPPL's business onto its books without cash outflow. The stock may see volatility around the board meeting on April 24, 2025, and shareholders should watch for the final swap ratio and EGM approval.