Kachchh Minerals Appoints Milap Hasmukh Shah as Independent Director for Five-Year Term

1 min read     Updated on 01 Aug 2025, 07:52 PM
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Overview

Kachchh Minerals Limited has appointed Mr. Milap Hasmukh Shah as an Additional Non-Executive Independent Director for a five-year term from August 1, 2025, to July 31, 2030, subject to shareholder approval. Mr. Shah brings over 14 years of experience in finance and insurance, with expertise in financial planning and risk management. The appointment was made during a board meeting on August 1, 2025, in compliance with SEBI regulations.

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*this image is generated using AI for illustrative purposes only.

Kachchh Minerals Limited has announced the appointment of Mr. Milap Hasmukh Shah as an Additional Non-Executive Independent Director, marking a significant addition to its board. The decision was made during a board meeting held on August 1, 2025, at the company's registered office in Mumbai.

Appointment Details

Mr. Shah's appointment is set for a five-year term, commencing from August 1, 2025, and extending until July 31, 2030. However, this appointment is subject to shareholder approval at the upcoming General Meeting of the company.

Professional Background

Mr. Milap Hasmukh Shah brings a wealth of experience to Kachchh Minerals Limited:

  • Over 14 years of experience in finance and insurance
  • Based in Jamnagar, Gujarat
  • Expertise in financial planning, insurance solutions, and investment strategies for individuals and corporates
  • Qualifications include B.COM (Law and Commerce) and LL.B.
  • Strengths lie in finance, insurance, and risk management

Board Meeting Highlights

The board meeting where this decision was made commenced at 6:30 p.m. (IST) and concluded at 6:45 p.m. (IST) on August 1, 2025. The company has confirmed that Mr. Shah has not been debarred from holding the office of Director by any order issued by SEBI or any other authorities.

Company Compliance

Kachchh Minerals Limited has made this announcement in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company's Company Secretary and Compliance Officer, Dipen Vijaykumar Shah, officially communicated this information to the BSE Limited.

This strategic appointment of Mr. Milap Hasmukh Shah is expected to bring valuable insights and expertise to Kachchh Minerals Limited's board, potentially contributing to the company's future growth and financial strategies.

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Kachchh Minerals Expands into Real Estate with ₹206.75 Crore Acquisition of Rajhans Procon

2 min read     Updated on 25 Apr 2025, 08:41 AM
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Overview

Kachchh Minerals Limited (KML) has approved the acquisition of Rajhans Procon Private Limited (RPPL) for ₹206.75 crore in a share swap deal. KML will acquire 100% of RPPL's equity shareholding by issuing 7,38,37,500 new equity shares at ₹28 per share. This strategic move marks KML's expansion into the real estate sector. The board also approved an increase in authorized share capital, alteration of the Memorandum of Association, appointment of a new Company Secretary, and noted the resignation of an Independent Director. The acquisition and related actions are subject to shareholder approval at an upcoming EGM on May 23, 2025.

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Kachchh Minerals (KML), a company listed on the Bombay Stock Exchange, has announced a significant strategic move into the real estate sector . In a board meeting held on April 24, 2025, the company approved the acquisition of Rajhans Procon Private Limited (RPPL) in a share swap deal valued at ₹206.75 crore.

Acquisition Details

The board of KML has approved the acquisition of 30,000 equity shares, representing 100% of the equity shareholding of RPPL. The purchase consideration is set at ₹68,915.00 per equity share of RPPL, totaling ₹206.75 crore. This acquisition will be financed through a share swap, with KML issuing 7,38,37,500 new equity shares at ₹28.00 per share (including a premium of ₹18.00 per share) to RPPL's shareholders.

Strategic Expansion

This move marks a significant expansion for Kachchh Minerals, diversifying its business portfolio into the real estate sector. RPPL, incorporated on July 11, 2008, is primarily engaged in real estate development. The acquisition is expected to provide KML with a strong foothold in the property market.

Financial Implications

Aspect Details
Share Issuance Up to 7,38,37,500 new equity shares
RPPL Valuation ₹206.75 crore
RPPL Share Value ₹68,915.00 per share
RPPL's Provisional Turnover (FY 2025) ₹27.50 crore

Corporate Actions

In addition to the acquisition, KML's board meeting resulted in several other significant decisions:

  1. Increase in Authorized Share Capital: From ₹10.00 crore to ₹90.00 crore, subject to shareholder approval.
  2. Alteration of Memorandum of Association: To align with the Companies Act, 2013 and expand the company's objectives.
  3. Appointment of Company Secretary: Mr. Dipen Vijaykumar Shah appointed as Company Secretary and Compliance Officer.
  4. Board Changes: Resignation of Mr. Jagdish Sajan Kandoria as Independent Director.

Shareholder Approval and Regulatory Compliance

The acquisition and related corporate actions are subject to shareholder approval at an upcoming Extraordinary General Meeting (EGM) scheduled for May 23, 2025. The company has emphasized that the transaction is being conducted at arm's length, based on a valuation report from a registered valuer.

Market Impact

This acquisition represents a major shift in Kachchh Minerals' business strategy, potentially transforming it from a minerals company to a diversified entity with significant real estate interests. The market's reaction to this strategic move will be closely watched in the coming days.

As Kachchh Minerals embarks on this new venture, stakeholders will be keen to see how the company leverages RPPL's expertise in the real estate sector and what synergies emerge from this acquisition.

Historical Stock Returns for Kachchh Minerals

1 Day5 Days1 Month6 Months1 Year5 Years
-2.47%-16.36%-21.82%+48.27%+26.94%+576.69%
Kachchh Minerals
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