Wagend Infra Bets Big on Mining: Approves ₹250 Cr Stake in Broxite Minerals

Wagend Infra Venture Ltd has greenlit a strategic acquisition of a 10.96% equity stake in Broxite Minerals LLP for a total consideration of ₹250 million, signaling its entry into India’s fast-evolving mineral and mining sector. The decision was approved by the company’s board on July 2, 2025, under Regulation 30 of SEBI’s LODR norms.

 

Broxite Minerals, a privately held firm, is engaged in the exploration and processing of bauxite and allied industrial minerals, with operations concentrated in Gujarat and Odisha. The acquisition is expected to provide Wagend Infra with upstream integration opportunities and diversify its investment portfolio beyond infrastructure and financial services.

 

Key Highlights:

 

Stake Acquired: 10.96% equity in Broxite Minerals LLP.

Deal Value: ₹250 million, funded through internal accruals.

Strategic Rationale: Entry into high-demand mineral segment; potential synergies with infrastructure projects.

Broxite Profile: Mid-sized mining firm with FY24 revenue of ₹112 crore and EBITDA margin of 18%.

Governance Note: No change in management control; Wagend to appoint one board observer.

Market Reaction: Wagend Infra shares rose 4.1% intraday to ₹1.24, reflecting investor optimism.

 

This move aligns with Wagend’s broader strategy to evolve into a multi-sector investment platform, leveraging India’s resource-driven growth story.

 

Sources: Rediff MoneyWiz, BSE India, Economic Times Markets