Farmico completes acquisition of Simandhar Impex shares, assuming management control
Simandhar Impex Ltd has seen a significant shift in its management control following the completion of an equity purchase by M/s Farmico International Private Limited. The acquirer’s stake now represents a majority holding, leading to the appointment of new directors and a change in the company’s controlling party structure.The acquisition was finalized on May 21, 2026, when M/s Farmico International Private Limited purchased 2,281,615 equity shares of Simandhar Impex Ltd. This purchase accounts for 74.64% of the paid-up equity share capital of the company.
Following this transaction, the Acquirer assumed effective management control of Simandhar Impex Ltd. The shift was formalized with the appointment of two nominees from Farmico International Private Limited as Additional Executive Directors on the Board of the Company, effective June 6, 2026. These appointees are Mr. Lalit Naresh Nagdev and Mr. Amit Suresh Ninawe.
As a result of the acquisition and subsequent appointments, M/s Farmico International Private Limited, along with Mr. Chandraprakash Wadhwani, who is in control of the Acquirer, have been classified as Promoters of Simandhar Impex Ltd.
Details of New Director Appointments
The two newly appointed directors possess extensive backgrounds in finance, audit, and corporate management. They were appointed for change of management purposes and serve with effect from June 6, 2026. Both individuals are not related to any of the Directors or Key Managerial Personnel or Promoter Group of the company.A summary of their profiles is provided below:
| Particulars | Mr. Lalit Naresh Nagdev | Mr. Amit Suresh Ninawe |
|---|---|---|
| Role & Date | Additional Executive Director, appointed on June 6, 2026 | Additional Executive Director, appointed on June 6, 2026 |
| Profile Summary | CA Lalit Nagdev has over 9 years of experience in finance, banking, and audit across India and international markets. His expertise includes overseeing financial compliance, regulatory coordination, ERP implementation, and internal control systems. He previously worked with Axis Bank Ltd. in the SME Credit Department. | Mr. Amit Suresh Ninawe brings over 13 years of diversified experience in finance, accounting, taxation, and audit. He possesses comprehensive knowledge of GST, Income Tax, TDS, project finance, and financial forecasting. His expertise was honed during his time at ICICI Bank Ltd. as Senior Credit Manager. |
| Relationship Status | Not related to any Directors or Key Managerial Personnel or Promoter Group. | Not related to any Directors or Key Managerial Personnel or Promoter Group. |
Stock Price Movement
Shares of Simandhar Impex Ltd settled at ₹147.05 on Friday, edging higher after the stock saw a 1.98% gain. The shares traded within an intraday range that spanned from a low of ₹144.00 up to their closing price of ₹147.05.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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