Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI LODR Regulations") and the applicable SEBI Master Circular, the Board of ....
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The Board of Simandhar Impex Ltd noted the completion of a Share Purchase Agreement under which Farmico International Private Limited acquired 22,81,615 equity shares (74.64% of paid-up capital) at INR 30 per share on May 21, 2026, resulting in a complete change of control. Mr. Chandraprakash Wadhwani (the person in control of the Acquirer) is now classified as a Promoter of the Company. As part of the management transition, two Additional Executive Directors — Mr. Lalit Naresh Nagdev (to be CEO) and Mr. Amit Suresh Ninawe, both Chartered Accountants — were appointed, while Mr. Mehul Abhaykumar Shah resigned from the Board. Additionally, the Board approved opening a new current account with ICICI Bank (Nagpur branch) and constituted an Executive Committee comprising the two new directors.
This marks a full change of ownership and management at Simandhar Impex, with new promoters now controlling the company and replacing key board members. Existing shareholders should expect strategic and operational shifts under the new management; short-term stock volatility is possible as the market digests the change in control and new leadership direction.