Kiri Industries Limited has disclosed the incorporation of ANDEMINA SpA as a wholly-owned subsidiary company in Chile. This disclosure is made pursuant to Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, and references SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.
Subsidiary Details
- Name: ANDEMINA SpA
- Location: Chile
- Capital Structure: The company's authorized capital is Thirty Million Chilean Pesos (CLP 30,000,000), divided into 30,000 registered ordinary shares of a single class.
- Initial Capital: The initial subscribed and paid-up capital is one hundred thousand Chilean pesos (CLP 100,000), corresponding to 100 fully paid-up shares at incorporation.
- Operational Status: Newly incorporated entity with no operational revenue generated.
- Business Activities: ANDEMINA SpA will engage in exploration, development, extraction, processing, refining, and trading of minerals, ores, metals, and all kinds of mining products. Its business includes acquiring, holding, managing, and disposing of mining assets, concessions, royalties, and interests in mining projects and companies in Chile and abroad. The company will also undertake investments, project financing, supply and offtake agreements, and related logistics, infrastructure, and commercial services.
Transaction Details
- Related Party Status: ANDEMINA SpA is a wholly-owned subsidiary and accordingly constitutes a related party transaction. The promoter/promoter group has no interest in this transaction.
- Consideration: Cash consideration of CLP 100,000 for the initial 100 shares.
- Shareholding: 100% ownership acquired by Kiri Industries Limited.
- Government Approvals: Not applicable for this incorporation.
- Completion Timeline: Not applicable.
Purpose and Impact
The subsidiary was incorporated to explore future business opportunities in all kinds of mining activities in Chile and other jurisdictions. As a newly incorporated entity, ANDEMINA SpA has no historical financial performance or significant background information beyond its stated business objectives.