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Kundan Minerals and Metals Limited is moving forward with strategic acquisitions to enhance its operational capabilities. The company has completed the acquisition of 100% equity shares in Kundan Concentrates Private Limited for ₹31.09 crore at a price of ₹10.36 per share, alongside the assumption of the company's existing loans. Additionally, it has acquired a 49% stake in Kundan Gold Mines Private Limited, totaling ₹49,000 at ₹10 per share, which is also subject to loan obligations.
In a significant financial maneuver, the company will undertake debt financing, securing loans of ₹900 crore from Gogia Leasing Limited and ₹100 crore from director Vidit Garg, aiming to bolster its growth plans. Furthermore, Kundan Minerals has approved the incorporation of a foreign subsidiary in the UAE to expand its reach in trading non-manufactured precious metals. These initiatives reflect a proactive approach to capitalize on market opportunities and could offer substantial growth potential moving forward. Investors should watch this space for developments that may enhance the company's market positioning.