Kundan Minerals and Metals Report Conversion of Debentures in Subsidiary Entity
Kundan Minerals and Metals Limited announced a significant corporate development involving its subsidiary, Kundan Gold Mines Private Limited (KGMPL). The Company reported that KGMPL allotted 39,39,370 Compulsory Convertible Debentures (CCD) on March 30, 2026. Following this allotment, KGMPL achieved the status of an Associate Company, a status which was further confirmed by a conversion event on May 20, 2026.The transaction also impacted another related entity. Kundan Minerals Care Private Limited, which operates as a subsidiary of KGMPL, also assumed the status of an Associate Company subsequent to the above transaction.
The company provided detailed financial information related to these associated units.
Financial Details of Associated Entities
The reporting provided financial data covering Kundan Gold Mines Private Limited and Kundan Minerals Care Private Limited.| Entity | Financial Detail | Status/Value |
|---|---|---|
| Kundan Gold Mines Private Limited | Turnover and Net worth (as of March 31, 2025) | Available (See table below) |
| Kundan Minerals Care Private Limited | Financial Statement availability | Incorporated on June 9, 2025; no financial statement available for March 31, 2025. |
For Kundan Gold Mines Private Limited, the audited financials for the period ended March 31, 2025, showed the following particulars:
| Particulars | Amount in Lakhs | Percentage |
|---|---|---|
| NIL | N/A | |
| (43.68) | N/A |
The details provided confirmed that no sale or disposal activities were recorded by the entities under review, as related sections were marked as Not Applicable.
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