Acquisitions24 Jul 2026, 08:30 pm
Kanungo Financiers Approves Share Capital Increase & Acquisitions
AI Summary
Kanungo Financiers Ltd's Board of Directors has approved a significant increase in authorized share capital from ₹5.24 Crores to ₹50 Crores, subject to shareholder approval. The board also 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, with SIPL and PMLPL becoming associate companies. The company also recorded valuation reports for the target companies and its own shares for the share allotment.
Key Highlights
- Authorized share capital to increase from ₹5.24 Cr to ₹50 Cr.
- Acquisition of 19.50% stake in SIPL for ₹42.49 Cr via share swap.
- Acquisition of 19.50% stake in PMLPL for ₹38.83 Cr via share swap.
- SIPL and PMLPL to become associate companies post-acquisition.
- Valuation reports for target companies and own shares recorded.
Price Impact
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