Kachchh Minerals zooms on getting nod to acquire 100% stake in Rajhans Procon
Kachchh Minerals is currently trading at Rs. 36.58, up by 3.14 points or 9.39% from its previous closing of Rs. 33.44 on the BSE.
The scrip opened at Rs. 35.00 and has touched a high and low of Rs. 36.78 and Rs. 34.76 respectively. So far 86644 shares were traded on the counter.
The BSE group 'X' stock of face value Rs. 10 has touched a 52 week high of Rs. 38.06 on 20-Aug-2024 and a 52 week low of Rs. 18.70 on 03-Mar-2025.
Last one week high and low of the scrip stood at Rs. 36.78 and Rs. 24.01 respectively. The current market cap of the company is Rs. 19.18 crore.
The promoters holding in the company stood at 41.91%, while Non-Institutions held 58.09% stake in the company.
Kachchh Minerals has received approval for the acquisition of 30,000 equity shares, i.e. 100% equity shareholding of Rajhans Procon (RPPL) for a total purchase consideration of Rs 206.75 crore at a price of Rs 68,915 per equity share (Purchase Consideration). The Purchase Consideration payable shall be discharged by way of issue and allotment of upto 7,38,37,500 fully paid-up equity shares of the Company having face value of Rs 10 each at a price of Rs 28 per equity share (including a premium of Rs 18 per share).
Pursuant to this acquisition, Rajhans Procon will become the wholly owned subsidiary of Kachchh Minerals, subject to approval of members of the Company in the ensuing Extra Ordinary General Meeting. The Board of Directors of the Company at their meeting held on April 24, 2025, has inter alia, considered and approved the same.
Kachchh Minerals is engaged in the business of mining, processing and marketing of minerals.
