Announced Wed, 24 Jun · 10:46 IST
Sanstar raises Rs 198 cr from Ingredion arm, adds 2 directors
Management Changes 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
₹123.71
base price
In-mkt
timing
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AI summary
Sanstar allotted 1.80 crore equity shares to Corn Products Development Inc., a US Ingredion Incorporated entity, at Rs 110 each, raising about Rs 198.27 crore via preferential issue. Share capital rose from Rs 36.45 cr to Rs 40.05 cr. Allotted shares carry lock-in. Board also appointed Jacques Guglielmi as nominee director from Ingredion and Niraj Shah as independent director for 3 years.
Likely market impact
Significant capital infusion from a global strategic investor. Minor dilution, but brings international expertise and a stronger balance sheet.