Kundan Minerals And Metals507528Subsidiary or JV
Board approves incorporation of foreign subsidiary in North Africa
Board approved incorporating a foreign subsidiary in North Africa — proposed name Kundan Minerals Resources.
By ScoutQuest · · 1 min read
100%Shareholding/control in the subsidiary
- Proposed Subsidiary Name
- Kundan Minerals Resources
- Holding in New Entity
- 100% held foreign subsidiary
- Expected Completion Timeline
- approximately 6 months
What the company announced
- The Board of Directors approved the incorporation of a foreign subsidiary in North Africa.
- The proposed name of the new entity is Kundan Minerals Resources.
- It will be a 100% held foreign subsidiary of the listed company, subject to the approval of the respective law.
- The entity belongs to the industry of exploration and mining of minerals.
Why the company says it is doing this
- The stated object is expanding international presence.
How it will be paid for
- The consideration shall be paid by account transfer in accordance with FEMA provisions.
- The shares will be subscribed at the face value.
Timeline and approvals
- The proposed subsidiary company incorporation will be completed within approximately 6 months.
- Approvals under the applicable laws of the respective countries are required.
Other details given
- The company states this is not a related party transaction.
- After incorporation, the entity shall be a foreign subsidiary of Kundan Minerals And Metals Limited.
- The entity is a new company proposed to be incorporated.
What a retail investor can take away
- This is a step to set up a wholly owned overseas arm, not a purchase of an existing business.
- The amount involved is not quantified in money terms; the pricing basis given is face value subscription of shares.
- Actual incorporation is a future event, expected in about 6 months, and depends on approvals in the foreign country.
Also from Kundan Minerals And Metals
Board meeting on 10 November 2026 to consider and approve September quarter results
3 Nov 2026
Company Secretary & Compliance Officer resigns, effective close of business on 15th October, 2026
5 Oct 2026
More numbers
- Shareholding/control proposed in the new subsidiary100%
- Indicative time period for completing incorporationapproximately 6 months
Source: BSE · 3 Nov 2026
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