Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
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Awaiting price reaction for this filing.
Sobhagya Mercantile Ltd, through its SPV SML Caliber SPV (where it is the Lead Member), has received a Letter of Intent dated 13 November 2025 from Assam Mineral Development Corporation Ltd (AMDCL). The contract covers the Vadakhol Asoli Ni, Cr, Co & other Associated Mineral Block in Maharashtra, where the company will act as Mine Developer and Operator (MDO). Work scope includes obtaining composite license, geological prospecting, mining plan approvals, land acquisition, drilling, excavation, transportation, and mineral sale on a revenue-sharing basis with AMDCL. SML Caliber SPV has submitted a performance security of Rs. 1.5 crore via bank guarantee from Bank of Maharashtra, valid until November 2030. The promoter group has no interest in AMDCL, and the deal is not a related-party transaction. Final contract size is yet to be determined post detailed exploration.
This is a major new business win that diversifies Sobhagya into mining and mineral operations, with potential long-term revenue tied to mineral extraction and sales. Positive for the stock as it represents meaningful operational expansion, though actual financial benefits will depend on exploration outcomes and final agreement terms.