Sanginita Chemicals Allots Shares in Preferential Issue to Complete Acquisition of Agastya Green Energy
Sanginita Chemicals Limited has approved the preferential allotment of equity shares to B N G Investment LLC, a shareholder of Agastya Green Energy Limited (AGEL), as part of the process to acquire 100% stake in the green energy company. The allotment was finalized after prior approval from shareholders and the National Stock Exchange of India Limited.The Board of Directors of Sanginita Chemicals Limited approved the allotment of equity shares on June 9, 2026. This move facilitates the completion of a part of the transaction stipulated under the Share Swap and Share Purchase Agreement related to the acquisition.
Details of the preferential allotment are as follows:
| Detail | Specification |
|---|---|
| Company Allotting Shares | Sanginita Chemicals Limited |
| Proposed Allottee | B N G Investment LLC (Shareholder of AGEL) |
| Number of Shares Allotted | 1,5287356 equity shares |
| Face Value per Share | Rs. 10/- |
| Issue Price per Equity Share | Rs. 13.05/ |
| Premium per Share | Rs. 3.05/- |
The allotment is intended to complete the acquisition of 100% stake in AGEL. The equity shares allotted to the Proposed allottee under the Preferential Issue shall be directly transferred to the demat account of B N G Investment LLC, adhering to relevant regulations concerning substantial acquisition of shares and takeovers.
Furthermore, the Board confirmed that since Mr. Anubhav Agarwal, identified as the Acquirer to the Open Offer, has deposited the entire consideration payable under the open offer assuming full acceptance, Sanginita Chemicals Limited will credit these equity shares to the proposed allottee's account.
SANGINITA Stock Price Movement
The stock closed higher today at ₹32.84 after gaining 1.99%, finishing the trading session on a strong note. The equity saw activity that accounted for a total traded volume of 39,752 shares.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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