Wagend Infra Venture Limited has announced a board meeting to approve acquiring a 10% stake in Broxite Minerals LLP, engaged in construction and mining of bauxite and laterite minerals.

The acquisition, valued at Rs. 25 Cr, will happen in tranches via stake purchase or capital subscription.

Broxite Minerals holds a 50-year mining lease in Gujarat for over 6 hectares, with geological resources estimated at 27.64 lakh tons of laterite and bauxite, backed by environmental clearance.

This strategic move aims to help Wagend expand into construction and mining sectors, complementing its infrastructure development business.