Kalind Ltd Approves Acquisition of Kalind Gems & Diamonds

Kalind Limited's Board of Directors has approved the acquisition of Kalind Gems & Diamonds Limited, which will become a Domestic Wholly Owned Subsidiary (DWOS). This move aims to establish the company's presence in the gems and diamonds sector. The acquisition is subject to shareholder approval for alterations to the company's Memorandum of Association (MOA) and completion of regulatory procedures. The Board also decided to withdraw a proposed preferential issue of 8,60,86,956 Equity Shares due to market conditions and allottee unwillingness. Additionally, the company approved raising funds up to ₹3500 Crore through various permissible modes and authorized a postal ballot for member approval on related matters.