Sanstar EGM approves preferential issue of about 198 crore to Ingredion group
SANSTAR · price
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Sanstar Limited's EGM on June 20, 2026 approved a preferential issue of 1,80,24,157 equity shares to Corn Products Development Inc, an Ingredion group company, for about 198.26 crore. The investor will hold about 9 percent post-issue with no change in management or control. Proceeds will go towards working capital and general corporate purposes. The investor also gets special rights including nominating a director, pre-emptive rights, and affirmative voting on certain matters. All 5 resolutions passed with requisite majority.
Strategic investment by global Ingredion group validates growth story. No control change. About 9 percent dilution for existing shareholders.