Sadhana Nitrochem Limited has informed the Exchange regarding Outcome of Board Meeting held on April 29, 2026.

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AI summary

Sadhana Nitrochem's board approved appointment of Mrs. Sindhu Suneer Kotian as Non-Executive Independent Director and continuation of Executive Director Mr. Asit Dhankumar Javeri beyond age 70. The company plans to raise approximately Rs. 139.05 crore via preferential allotment of 6.75 crore equity shares at Rs. 2.06 per share to two investors: Niraj Bajaj (increasing stake from 4.98% to 6.60%) and Poorvi Milan Chitalia (new 0.49% stake). Authorised share capital will increase from Rs. 300 crore to Rs. 305 crore. An Extraordinary General Meeting is scheduled for around May 22, 2026 to seek shareholder approvals.

Likely market impact

The preferential allotment will dilute existing shareholder stakes while providing fresh working capital. The new independent director appointment strengthens board composition. Shareholders should carefully evaluate the Rs. 139 crore fundraising terms at the upcoming EGM.