Announced Tue, 16 Jun · 16:29 IST
Sanstar gets BSE/NSE nod for 1.8Cr share preferential issue to Corn Products
Fund Raising View source PDF
SANSTAR · price
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Price reaction · full curve 14 horizons · vs prior close
+0.2%1-day move
₹114.95
prior close
₹115.00
base price
After-mkt
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AI summary
Sanstar Ltd has received in-principle approval from BSE and NSE for issuing 1,80,24,157 equity shares (face value Rs. 2) on a preferential basis to Corn Products Development Inc., a non-promoter. The issue price is Rs. 110 per share, including a premium of Rs. 108, for a total of approximately Rs. 198.27 crore. The company must now complete allotment and file a listing application within 20 days of allotment.
Likely market impact
Indicates potential equity dilution and a strategic investment from Corn Products Development Inc., a non-promoter entity, at a significant premium to face value.