Allotment of 1.53 crore shares via share swap for AGEL acquisition

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SANGINITA · price

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Nifty Microcap 250market · in no size index; the smallest one is used-1.4%+3.4% vs market

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AI summary

Sanginita Chemicals allotted 1,52,87,356 equity shares at Rs. 13.05 each (face value Rs. 10, premium Rs. 3.05) to BNG Investment LLC for non-cash consideration of about Rs. 19.95 crore. This is a share swap to acquire 100 percent of Agastya Green Energy (AGEL), making it a wholly-owned subsidiary. Paid-up capital rises from Rs. 25.90 crore to Rs. 41.19 crore.

Likely market impact

Share count rises about 59 percent, diluting existing holders. AGEL and its green energy subs acquired without cash outflow.