Postal ballot for USD 65 million fund raise and higher FPI and NRI limits
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Kalind Limited is seeking shareholder approval via postal ballot to raise up to USD 65 million through QIP, FCCB, ECB or other permitted modes in one or more tranches. Proceeds will fund expansion of heavy equipment fleet and infrastructure projects. Separately, the company proposes raising FPI investment limit to sectoral cap and NRI and OCI limit from 10 percent to 24 percent of paid-up capital. E-voting runs from August 6 to September 4, 2026.
Fund raise may dilute existing shareholders if equity is issued. Wider FPI and NRI limits open the door to more foreign capital.