Kalind Ltd Withdraws Preferential Issue, Approves Acquisition

Kalind Limited's Board of Directors met on October 31, 2026, and approved several key decisions. The Board decided to withdraw the proposed preferential issue of 8,60,86,956 Equity Shares at ₹11.50 per share, aggregating to ₹98,99,99,994, due to prevailing market conditions and unwillingness of allottees. The company will also alter its Memorandum of Association (MOA) to align with future business activities, subject to shareholder approval. Additionally, the Board approved the acquisition of Kalind Gems & Diamonds Limited as a Domestic Wholly Owned Subsidiary. A proposal to raise funds up to ₹500 Crore through various permissible modes was also approved in principle. The Board also approved the Notice of Postal Ballot for seeking shareholder approval on these matters.