Acquisitions24 Jul 2026, 08:20 pm
Kanungo Financiers Approves Share Capital Increase & Acquisitions
AI Summary
Kanungo Financiers Ltd held an adjourned Board of Directors meeting on July 24, 2026. The board approved a significant increase in authorized share capital from ₹5.24 Crores to ₹50 Crores, subject to shareholder approval. Additionally, the company finalized the acquisition of 19.50% equity in M/s. Startech Infralogistics Private Limited (SIPL) for ₹42.49 Crores and M/s. Peepal Mining and Logistics Private Limited (PMLPL) for ₹38.83 Crores. These acquisitions will be executed through a share swap, making both SIPL and PMLPL associate companies. The board also took on record valuation reports for these acquisitions and for the share allotment.
Key Highlights
- Authorized share capital increased from ₹5.24 Cr to ₹50 Cr.
- Acquires 19.50% stake in Startech Infralogistics for ₹42.49 Cr.
- Acquires 19.50% stake in Peepal Mining & Logistics for ₹38.83 Cr.
- Acquisitions to be completed via share swap, making them associate companies.
- Board approved increase in share capital, subject to shareholder nod.
Price Impact
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