Kundan Minerals and Metals Limited has informed the Exchange regarding Acquisition by Foreign Subsidiary under Regulation 30 of SEBI (LODR) Regulations, 2015
Awaiting price reaction for this filing.
Kundan Minerals and Metals Limited's foreign subsidiary, Kundan Ventures FZCO, has acquired a 99% stake in West Africa Exploration & Mining, Mauritania. The acquisition cost is 99,000 MRU (paid in cash). The target company was incorporated on 19th August 2025 and has NIL turnover for 2025. The deal is in the mining of minerals sector. Following the transaction, the target company has become a step-down subsidiary of the listed company. The acquisition is aimed at expanding the company's international presence and does not constitute a related party transaction.
This acquisition expands Kundan Minerals' footprint into West Africa through a new step-down subsidiary. While the target is currently pre-revenue, it reflects the company's strategy to diversify geographically into the mining sector. The cash deal with no related party involvement suggests a straightforward transaction.