Kanungo Financiers Ltd Board Discusses Fund Raising, Capital Increase, and Operational Expansion

Kanungo Financiers Ltd Board Discusses Fund Raising, Capital Increase, and Operational Expansion​

Kanungo Financiers Ltd held a Board of Directors meeting on April 13, 2026, where the board discussed and approved several key corporate matters, including fund raising through preferential shares, increasing authorized share capital, and altering the company’s main objects clause.

The board considered the proposal for raising funds via a preferential issue of equity shares. It was noted that the definitive terms of this preferential issue, including the pricing, size of the issue, and the list of proposed allottees, will be finalized and approved at a subsequent board meeting.

In relation to capital structure, the board also reviewed the proposal for an increase in the Company’s Authorized Share Capital. The decision was made that the increase in capital will be finalized in the next board meeting, subsequent to the finalization of the preferential issue of shares.

Proposed Name and Object Alterations​

A third key item discussed was the proposal for a change in the Company’s name and a comprehensive alteration of the Main Objects Clause of the Memorandum of Association.

The board deliberated upon several alternative names, subject to availability and approval from the Registrar of Companies. These names included Mikado Infra Logistics Limited and FRST Mining & Logistics Limited, or any other name that may be made available.

The company also approved broadening its main object. Under the revised mandate, the company aims to carry on the business of logistics, transportation, and material handling across India or elsewhere. Furthermore, the company is empowered to prospect, explore, acquire, develop, operate, and manage mines, quarries, and mineral deposits.

The expanded scope of business activities includes the extraction, processing, and dealing in various materials, such as ores, minerals, metals, precious and semi-precious stones, coal, lignite, fly ash, sand, soil, stones, clays, limestone, bauxite, iron, aluminum, copper, zinc, gold, silver, and diamonds. The company's operational capacity is defined to include:

• Acting as an agent, broker, distributor, stockist, consultant, or contractor related to these materials.
• Searching, surveying, discovering, and acquiring mining and quarrying rights, lands, or water areas via concession, grant, lease, or license.
• Establishing and operating fleet and project-based logistics services in all modes of transport (land, air, or water), handling bulk, containerized, heavy, and over-dimensional cargo.
• Engaging in agency businesses, including freight forwarding, clearing and forwarding, steamer agency, chartering, and ship broking services.

The board determined that the above matter requires finalization and approval during the subsequent board meeting.

Stock Price Movement​

Kanungo Financiers Ltd settled at ₹12.00 today, edging higher by 4.62% on Monday. The shares moved throughout the trading session, peaking at a high of ₹12.03 before finding support near ₹12.00.

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