Kundan Minerals and Metals Limited has informed the Exchange about General Updates
Awaiting price reaction for this filing.
Kundan Gold Mines Private Limited (KGMPL), a subsidiary of Kundan Minerals and Metals Limited, allotted 39,39,370 Compulsory Convertible Debentures (CCD) on 30th March 2026, which converted on 20th May 2026, causing KGMPL to become an Associate Company. Consequently, Kundan Minerals Care Private Limited (a subsidiary of KGMPL) also became an Associate Company. KGMPL had NIL turnover and a negative net worth of Rs. (43.68) Lakhs as per audited financials for the year ending 31st March 2025. Kundan Minerals Care Private Limited was incorporated on 9th June 2025, so no financial statements were available for that period.
This reflects a change in the corporate structure where KGMPL and its subsidiary have moved from subsidiary to associate status, which may affect how the company's financials are consolidated going forward.