Sparkle Gold Rock Limited’s Board of Directors has approved a proposal to acquire an entity engaged in the marble mining, extraction, processing, and allied activities. Concurrently, the board also sanctioned a plan to raise funds through the issuance of equity shares or other eligible securities. This strategic move aims to fuel the company’s expansion and consolidate its position in the mineral resources sector.
Board Approves Strategic Acquisition
Sparkle Gold Rock Limited announced that its Board of Directors, in a meeting held on August 27, 2026, has given its in-principle approval for the acquisition of an equity share capital of an entity specializing in the marble mining, extraction, processing, and allied activities. This includes exploration and development of marble-bearing mineral resources and quarrying operations. The approval is subject to satisfactory completion of due diligence, valuation, and negotiation of terms.
Fundraising for Growth
In a parallel strategic decision, the Board has also approved a proposal for raising of funds. This will be achieved through the issuance of equity shares and/or other eligible securities on a preferential basis. The company may also consider a swap of shares as consideration for the proposed acquisition. This fundraising initiative is in accordance with SEBI regulations and is subject to shareholder and other regulatory approvals.
Management Authorization
Mr. Om Prakash Sharma, CEO of Sparkle Gold Rock Limited, has been authorized by the Board to identify and appoint necessary professional advisors, including legal, financial, tax, and technical consultants, as well as a SEBI registered merchant banker and a registered valuer. The CEO is also empowered to conduct due diligence, negotiate, and finalize the terms of the proposed acquisition and fund-raising activities.
Source: BSE
