Announced Wed, 24 Jun · 10:41 IST
Sanstar allots shares worth Rs 198 cr to Corn Products Development
Board & Shareholder Meetings View source PDF
SANSTAR · price
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Price reaction · full curve 14 horizons · vs prior close
+2.8%1-day move
₹120.60
prior close
₹123.52
base price
In-mkt
timing
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AI summary
Sanstar's board allotted 1.80 crore equity shares at Rs 110 each (face value Rs 2) to Corn Products Development Inc., a US Ingredion group company, raising about Rs 198 crores on a preferential basis. The board also appointed Jacques Guglielmi as a Nominee Director from the investor and Niraj Shah as an Independent Director for 3 years.
Likely market impact
Large capital raise from Ingredion group (about Rs 198 cr) strengthens balance sheet but dilutes existing shareholders. New nominee director joins board.