Sanstar Limited Approves Preferential Allotment and Key Board Appointments

Sanstar Limited Approves Preferential Allotment and Key Board Appointments​

Sanstar Limited, during its board meeting held on June 24, 2026, approved several key corporate decisions, including the preferential allotment of equity shares and the appointment of two directors to the company. The successful issuance boosted the company's total issued capital.

The board ratified the preferential allotment of 18,024,157 fully paid up Equity Shares to Corn Products Development Inc., a Delaware incorporated entity based in the USA. The allotment was executed at an issue price of ₹110 per share, which includes a premium of ₹108 over the face value of ₹2 per share.

This transaction resulted in the total aggregate consideration for the shares being ₹198,26,57,270/- (Rupees One Hundred and Ninety Eight Crore Twenty Six Lakh Fifty Seven Thousand Two Hundred and Seventy Only).

Prior to this allotment, Sanstar Limited's issued and paid-up share capital stood at 136,44,88,500/- (Rupees Thirty-Six Crores Forty-Four Lakhs Eighty Eight Thousand Five Hundred Only). Following the issuance of these new shares, the total issued and paid-up share capital increased to 140,05,36,814/- (Rupees Forty Crores Five Lakhs Thirty Six Thousand Eight Hundred and Fourteen Only). The equity shares allotted under this preferential basis are subject to a prescribed lock-in restriction.

A detailed breakdown of the preferred issue is provided in the table below:

New Director Appointments​

The board meeting also sanctioned the appointment of two additional directors: one nominee from the investor and one independent director.

Mr. Jacques Georges Florent Guglielmi was appointed as an Additional (Non-Executive Nominee Director) of the company, nominated by the Investor. This position is effective starting June 24, 2026, and is subject to regularization upon shareholder approval in the forthcoming Annual General Meeting. The investor director comes from Ingredion Incorporated and holds various leadership positions within the organization.

Furthermore, Mr. Niraj Yogeshbhai Shah was appointed as an Additional Director (Non-Executive Independent Director). This position carries a term of three consecutive years, effective from June 24, 2026, pending shareholder approval. Mr. Shah is described as a renowned entrepreneur and business leader with experience spanning over two decades in the textile and apparel industry. The company noted that he meets all criteria for independence under relevant laws and regulations.

SANSTAR Stock Price Movement​

Shares of Sanstar Limited are rallying to ₹123.75 as of 10:55 AM today, pushing the equity up by 2.82%. The stock sees vigorous buying interest in Live Market trading, with 313,844 shares exchanged so far.