Please find attached herewith Outcome of Board Meeting held today i.e. 28th May, 2026 approving the Amendment to MOA and AOA subject to shareholders Approval
SANSTAR · price
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Sanstar's board approved a ₹198.26 crore preferential issue to Corn Products Development Inc., a US-based wholly owned subsidiary of NYSE-listed Ingredion Incorporated. The company will issue 1.80 crore equity shares at ₹110 per share (9% post-issue stake). The board also approved increasing authorized share capital from ₹38 crore to ₹50 crore, and granting special rights to the investor including board nomination and pre-emptive rights. Separately, Sanstar will acquire a 30% stake in new joint venture Spark Ingredients Private Limited for ₹15 lakh, with Ingredion entities holding the remaining 70%, focused on specialty pharmaceutical and food ingredients. The company is also expanding its main object clause in the MOA to allow broader commodity trading and chemical processing activities. All proposals require shareholder approval at an EGM on June 20, 2026.
The ₹198 crore strategic investment from Ingredion brings global expertise and capital, potentially positive for growth prospects. The 9% stake and special rights for the investor represent dilution for existing shareholders but signal a strategic partnership. The new JV in specialty ingredients broadens business scope.