Kundan Minerals and Metals Limited has informed the Exchange about General Updates
Awaiting price reaction for this filing.
Kundan Minerals and Metals Limited disclosed that its subsidiary, Kundan Gold Mines Private Limited (KGMPL), allotted 3,93,93,70 Compulsory Convertible Debentures (CCD) on 30th March 2026, causing KGMPL to become an Associate Company effective 20th May 2026. Consequently, Kundan Minerals Care Private Limited (a subsidiary of KGMPL) has also become an Associate Company. As per audited financials for the year ending 31st March 2025, KGMPL had nil turnover and negative net worth of Rs 43.68 lakhs. Kundan Minerals Care Private Limited was only incorporated in June 2025, so no prior financials are available.
This structural change means these entities are now accounted for under the equity method rather than consolidation. It reflects a dilution of control and may signal significant capital movement within the group, warranting attention from investors tracking subsidiary performance.