Kanungo Financiers Board to Consider Fundraise, Name Change to Logistics/Mining

Kanungo Financiers Ltd's Board of Directors met on April 13, 2026, to discuss several key proposals. The board considered raising funds through a preferential issue of equity shares, with the specific terms, pricing, and allottees to be finalized in a subsequent meeting. A proposal to increase the company's Authorised Share Capital was also discussed, contingent on the finalization of the preferential issue. Furthermore, the board deliberated on changing the company's name, with options like "Mikado Infra Logistics Limited" or "FRST Mining & Logistics Limited" being considered, subject to regulatory approval. Concurrently, the main objects clause of the Memorandum of Association is proposed to be altered to include business activities in logistics, transportation, material handling, and mining. All these matters are subject to shareholder approval and will be finalized in a future board meeting.