Kamdhenu Limited has successfully completed the conversion of warrants into equity shares of group company Kamdhenu Ventures Limited (KVL), following the payment of Rs 7,46,89,500 towards the transaction. The company has now received confirmation that KVL's Preferential Issue Committee allotted 1,46,45,000 equity shares on 30th March, 2026, completing this strategic investment in the paint and coatings business segment.

Warrant Conversion Transaction Details

The payment constitutes 75% of the total amount required for converting 1,46,45,000 warrants into equity shares of KVL. The company had previously paid Rs 2,48,96,500, representing 25% of the total cost, at the time of warrant allotment.

Allotment Completion and Regulatory Compliance

As per the latest disclosure under Regulation 30 of SEBI Listing Regulations, KVL's Preferential Issue Committee has completed the allotment of 1,46,45,000 equity shares with face value of Re. 1 each. The transaction was executed in accordance with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.

Strategic Investment in Paint Business

This investment enables Kamdhenu Limited to participate in the future growth of the paint and coatings business within the Kamdhenu Group. KVL operates its paint business through its wholly-owned subsidiary, Kamdhenu Colour and Coatings Limited (KCCL), as the parent company does not have standalone operational business.

The funds raised by KVL through this warrant issue will be invested in KCCL for business expansion and launch of new product lines. Post-allotment of the equity shares, Kamdhenu Limited's total holding in KVL represents 4.45% of the post-issue paid-up capital.

KVL Financial Performance Overview

Kamdhenu Ventures Limited, incorporated on 19th October 2019 and listed on both NSE and BSE, shows strong consolidated performance despite minimal standalone operations.

Transaction Structure and Compliance

The transaction qualifies as a related party transaction since both companies are part of the same promoter group. However, since the equity shares are being issued on a preferential basis in accordance with SEBI regulations, the transaction is considered to be at arm's length.

The Board considers this investment favorable given the issue price of Rs 6.80 per warrant relative to KVL's prevailing market price and historical trading levels. The investment is expected to provide potential capital appreciation and long-term value while aligning with the group's growth strategy in the paint and coatings sector.

Kamdhenu Limited has successfully completed the conversion of its Rs 10 crore unsecured loan into equity shares of franchisee unit Maa Kudargarhi Steels Private Limited (MKSPL). Following the Loan and Investment Committee's approval on March 23, 2026, MKSPL has now allotted 20,000 equity shares to Kamdhenu Limited on March 24, 2026.

Transaction Completion Details

The loan-to-equity conversion has been finalized with MKSPL allotting the approved shares to Kamdhenu Limited:

The issue price was determined based on a valuation report issued by Mr. Nitin Goyal, Chartered Accountant and IBBI Registered Valuer. The transaction was completed on a private placement basis as originally planned.

About Maa Kudargarhi Steels Private Limited

MKSPL, incorporated on November 3, 2004, operates as a steel manufacturing company engaged in producing TMT bars and wire rods. The company operates from Raipur, Chhattisgarh, with significant production capabilities:

Financial Performance Track Record

MKSPL has demonstrated consistent growth in turnover over the past three financial years:

Strategic Partnership Background

The relationship between Kamdhenu and MKSPL extends beyond this transaction. The companies entered into a franchisee agreement in June 2020 for the use of the KAMDHENU trademark in TMT bar manufacturing. This agreement has been renewed multiple times, with the latest renewal in May 2023. In June 2025, the partnership expanded to include trademark usage for manufacturing binding wires under the KAMDHENU brand.

Regulatory Compliance

The transaction does not constitute a related party transaction, with no promoter or promoter group interest in MKSPL. No governmental or regulatory approvals were required for this conversion. The company emphasized that this represents a restructuring of existing financial exposure rather than fresh capital infusion, aligning with strategic investment objectives in franchisee units. The disclosure was made under Regulation 30 of SEBI Listing Regulations as required.