Kamdhenu has received approval for acquisition of 1,80,000 Equity Shares of Face Value Rs 10 each at an Issue price of Rs 651 per Equity Share, for a consideration aggregating to an amount of Rs 11.72 crore by way of subscription to the Preferential Issue of M/s Maa Kudargarhi Power and Ispat, a franchisee unit of the Company. The company plans to acquire stakes in select franchisee units in order to strategically remodel its franchisee business model. The transaction is expected to be completed on or before September 30, 2024. The Loan and Investment Committee of the Board of Directors of the company, at its meeting held on September 19, 2024, has accorded its approval for the same.
Kamdhenu is engaged in the manufacturing, marketing, branding and distribution of TMT Bars, structural steel, paints and allied products under the brand name ‘Kamdhenu’.
