Outcome of Board Meeting under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Awaiting price reaction for this filing.
Kundan Minerals and Metals Ltd's Board, at its meeting on 6th November 2025, approved the acquisition of 5,100 equity shares (51%) of Kundan Gold Mines Private Limited at Rs. 10.04 per share, for a total consideration of Rs. 51,204. The company already holds 4,900 shares (49%) in the target, so post-acquisition, Kundan Gold Mines will become a wholly-owned subsidiary. The target is a gold and minerals mining entity incorporated in July 2021, with negative net worth of Rs. (43.68) lakhs and nil turnover over the last three financial years. The deal is a related-party transaction (common control), payable in cash, with no regulatory approvals needed, and is expected to close within one month.
The acquisition is financially tiny (under Rs. 1 lakh) and the target has no revenue and negative net worth, so the immediate financial impact is negligible. Strategically, it consolidates a mining subsidiary but offers little near-term value creation for shareholders given the target's dormant status.