Kundan Minerals & Metal Limited Withdraws Foreign Entity Acquisition by Subsidiary Due to Technical Issues

Kundan Minerals & Metal Limited has officially withdrawn from an acquisition deal involving its wholly owned subsidiary due to technical complications that prevented the transaction's completion.

Transaction Cancellation Details

The company informed BSE Limited and National Stock Exchange of India Limited on January 9, 2026, about the cancellation of the foreign entity acquisition by Kundan Concentrates Private Limited (KCPL). The acquisition was originally disclosed to the exchanges on September 18, 2025, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Technical Issues Lead to Deal Collapse

According to the company's communication signed by Company Secretary and Compliance Officer Sonica Verma, technical issues arose during the share transfer process to KCPL. These complications proved insurmountable, ultimately preventing the completion of the previously announced acquisition transaction.

Recovery Process Initiated

Following the transaction cancellation, KCPL has initiated the process of claiming a refund related to the failed acquisition. The company has formally notified both stock exchanges to ensure proper regulatory compliance and maintain transparency with stakeholders.

Regulatory Compliance

The withdrawal notification was submitted under Regulation 30 of SEBI (LODR) Regulations, 2015, demonstrating the company's commitment to maintaining proper disclosure standards. This regulation requires listed companies to inform exchanges about material events that could impact investor decisions.