Simandhar Impex Completes Share Acquisition, Records Change in Control and Board Transitions

Simandhar Impex Completes Share Acquisition, Records Change in Control and Board Transitions​

Simandhar Impex Ltd. announced the completion of a significant transaction involving a change in control of the company. The Board of Directors confirmed the successful acquisition of shares by Farmico International Private Limited (Acquirer), marking the commencement of a management transition process.

The Board noted the finalization of the transaction under the Share Purchase Agreement dated January 14, 2026. The agreement involved the transfer of 2,281,615 equity shares representing 74.64% of the paid-up equity share capital to M/s Farmico International Private Limited. These shares were acquired at a price of INR 30 per Sale Share, with each having a face value of INR 10.

The acquisition was completed on May 21, 2026. Following this transaction and the Open Offer, the Acquirer has acquired control and voting rights in Simandhar Impex Ltd., becoming part of the company's Promoter Group. Furthermore, Mr. Chandraprakash Wadhwani, who holds direct control over the Acquirer, is also classified as a Promoter of the Company.

Board Appointments and Changes​

The Board took note of the subsequent changes to the Board structure consequent to the acquisition. Based on recommendations from the Nomination and Remuneration Committee, the company approved the appointment of two individuals as Additional Executive Directors (Professional Category) effective June 6, 2026. These appointments are part of the initial phase of the management transition initiated by Farmico International Private Limited.

The appointed directors include:


Simandhar Impex also recorded the resignation of one director, Mr. Mehul Abhaykumar Shah (DIN: 09806622), effective June 6, 2026. This resignation was linked to the cessation of control by the original Promoter Group members following the transaction completion and forms part of the Board reconstitution process.

Confirmation of Control and Operational Decisions​

The Board confirmed that M/s Farmico International Private Limited and Mr. Chandraprakash Wadhwani have acquired control of Simandhar Impex Ltd., and they are classified as Promoters in accordance with applicable laws.

Simandhar Impex also approved several operational matters:

• Bank Account: The company approved the opening of a new bank account at ICICI Bank Limited, Ramdaspeth Branch, Nagpur. Mrs. Priya Joshi was authorized as the signatory for the said bank account.
• Executive Committee: An Executive Committee of the Board was formed to carry out delegated functions and powers. The committee comprises Mr. Lalit Naresh Nagdev and Mr. Amit Suresh Ninawe.

Profile Details​

The appointed directors were noted through their profiles:


Regarding the resignation of Mr. Mehul Abhaykumar Shah, noted disclosures confirmed he holds a directorship at Parshva Enterprises Limited (Non-Executive & Non-Independent Director).

Stock Price Movement​

Closing the session, Simandhar Impex Ltd finished strong on Friday, settling at ₹147.05 after a 1.98% gain. Throughout trading, shares navigated between the intraday low of ₹144.00 and the high established near the close at ₹147.05.