Kalind Ltd to Raise Up to ₹500 Cr via Rights Issue or Other Modes

Kalind Limited's Board of Directors, in a meeting held on October 31, 2026, approved in principle a proposal to raise up to ₹500 Crore through various permissible modes, including a rights issue, preferential issue, or issuance of convertible warrants. This comes as the company decided to withdraw a previously proposed preferential issue of 8,60,86,956 Equity Shares at ₹11.50 per share, aggregating to ₹98.99 Crore, due to prevailing market conditions and the unwillingness of proposed allottees. Additionally, the Board approved the acquisition of Kalind Gems & Diamonds Limited as a Domestic Wholly Owned Subsidiary and proposed alterations to the Memorandum of Association to align with future business activities. A postal ballot notice will be issued to seek shareholder approval for these changes.