Extra-Ordinary General Meeting of Sanstar is scheduled to be held on Saturday, 20th June, 2026 at 11:00 A.M. IST through Video Conferencing/ Other Audio Visual Means.
SANSTAR · price
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Sanstar Ltd has called an EGM on June 20, 2026 via video conferencing to seek shareholder approval for five key items. First, the company proposes to increase its authorized share capital from ₹38 crore to ₹50 crore by creating 6 crore additional equity shares of ₹2 each. Second, and most significant, the company plans a preferential allotment of 1.80 crore equity shares to Corn Products Development Inc. (a subsidiary of Ingredion Inc.) at ₹110 per share, raising approximately ₹198.27 crore and giving the allottee a 9% post-issue stake. Third, special rights including board nomination, pre-emptive rights, and information rights will be granted to this investor under a shareholders' agreement. Fourth, the Articles of Association will be restated to reflect these investor rights. Fifth, the Object Clause of the Memorandum of Association will be expanded to include broader commodity trading, manufacturing, and processing activities.
This is a significant strategic investment by Ingredion Inc. (global ingredients company) that will dilute promoter holding to approximately 91% and introduce a new institutional investor with board representation rights. The ₹198 crore infusion strengthens the company's capital base while granting governance rights to a non-promoter entity.