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Kalind Limited plans to raise up to Rs 500 crore via rights issue and other means

31-Oct-26 19:51 Hrs IST

Kalind Limited’s board approved a plan to raise up to Rs 500 crore through various means, including a rights issue, preferential allotment, warrants, or other permissible securities, subject to regulatory approvals. Previously, the board withdrew a proposed preferential issue of 8,60,86,956 equity shares at Rs 11.50 per share, totaling Rs 98.99 crore, due to prevailing market conditions and the unwillingness of potential investors to proceed at that price. The board also approved the acquisition of Kalind Gems & Diamonds Limited as a wholly-owned subsidiary for Rs 1 crore, and authorized alterations to the company’s memorandum of association to align with future business activities.

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