Board Meeting24 Jul 2026, 08:20 pm
Kanungo Financiers Approves Share Capital Increase & Acquisitions
AI Summary
Kanungo Financiers Ltd held an adjourned Board 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. Key decisions also included the final approval for the acquisition of 19.50% equity in M/s. Startech Infralogistics Private Limited for ₹42.49 Crores and 19.50% equity in M/s. Peepal Mining and Logistics Private Limited for ₹38.83 Crores. Both acquisitions will be executed via a share swap, making 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.
- Acquisition of 19.50% stake in Startech Infralogistics approved.
- Acquisition of 19.50% stake in Peepal Mining and Logistics approved.
- Acquisitions to be settled via share swap, making them associate companies.
- Valuation reports for acquisitions and share allotment taken on record.
Price Impact
More from KANUNGO