Sanginita Chemicals Limited to Acquire Agastya Green Energy Limited
Sanginita Chemicals Limited announced on March 20, 2026, that its Board of Directors approved the issuance of equity shares to acquire Agastya Green Energy Limited (formerly BN Energy Limited). The acquisition will result in Agastya Green Energy Limited becoming a wholly-owned subsidiary of Sanginita Chemicals Limited.The Board approved the issuance of up to 1,52,87,356 equity shares with a face value of Rs. 10 each at an issue price of Rs. 13.05 per share, totaling Rs. 19,94,99,995.80, to be issued for consideration other than cash through a share swap arrangement. In exchange, Sanginita Chemicals Limited will acquire 95,00,000 shares of Agastya Green Energy Limited from B N G Investment LLC. The Board also approved the issuance of up to 1,91,57,080 equity shares with a face value of Rs. 10 each at an issue price of Rs. 13.05 per share, aggregating to Rs. 24,99,99,894, to B N G Investment LLC for cash consideration.
The acquisition, according to a valuation report from Finvox Analyics, will result in Agastya Green Energy Industries Private Limited becoming a step-down subsidiary of Sanginita Chemicals Limited.
The acquisition is intended to diversify Sanginita Chemicals Limited’s business and strengthen its presence in the renewable energy sector. The transaction is expected to be completed within 15 days of the approval of a special resolution and receipt of any necessary regulatory approvals.
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