Kalyani Steels Increases Stake in Subsidiary DGM Realties to 99.91% Post FCD Conversion
The announcement details the consolidation of an existing strategic asset and increased control over a subsidiary, rather than a new major acquisition or a direct revenue-generating event. It is a step in the ongoing corporate action to fully convert FCDs.
The conversion increases Kalyani Steels Limited's control over its subsidiary DGM Realties, solidifying its ownership of a strategic land asset intended for the company's business expansion.
* Kalyani Steels Limited (KSL) announced the conversion of the Third Tranche of Fully Convertible Debentures (FCDs) held in its subsidiary, DGM Realties Private Limited (DGM), on September 11, 2025. * A total of 8,630,000 FCDs of ₹100 each were converted into 8,630,000 Equity Shares of ₹10 each at a premium of ₹90 per share. * Following this conversion, KSL's holding in DGM has increased from 99.66% to 99.91%, totaling 11,596,000 Equity Shares. * The cost of acquisition for this tranche of 8,630,000 Equity Shares is ₹863 million (₹86.3 crore). * DGM Realties, engaged in the real estate industry, holds a 25-acre land parcel near the Bengaluru Mysuru Highway Corridor, which KSL intends to utilize for its marketing network, business development, and service/distribution center. * DGM is a related party of KSL, and the conversion was conducted on an arm's length basis. * DGM's turnover for FY 2024-25 was ₹36.01 million (₹3.601 crore). * KSL anticipates converting another 1,600,000 FCDs by November 30, 2025, which will further increase its holding in DGM to 99.92%.
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Kalyani Steels Limited filed this with the NSE as a statutory disclosure, categorised under corporate actions. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Kalyani Steels Limited. Read the original for the full detail.