Outcome of the Board Meeting held Today i.e. 28th May, 2026 to to consider and approve Proposal for fund raising by way of issue of equity shares under preferential issue and other incidental matters

Sanstar's board approved raising ₹198.26 crore via a preferential issue of 1,80,24,157 equity shares at ₹110 per share (just above the SEBI floor price of ₹109) to Corn Products Development Inc., a wholly-owned subsidiary of NYSE-listed Ingredion Incorporated. The investor will acquire 9% of post-issue share capital and receive special rights including the right to appoint one non-independent director, affirmative voting rights, pre-emptive rights on future issuances, and information/consultation rights, subject to a 10-year lock-in. Concurrently, the board approved subscribing to 30% of a new joint venture, Spark Ingredients Private Limited, with Ingredion India holding 70%, for a cash consideration of ₹15 lakh, focused on specialty pharmaceutical and ingredient products. The authorized share capital will be increased from ₹38 crore to ₹50 crore. All resolutions are subject to shareholder approval via EGM on June 20, 2026.