Sanstar Ltd Allots 1.8 Cr Equity Shares on Preferential Basis

Sanstar Ltd announced the allotment of 1,80,24,157 equity shares of face value ₹2 each at an issue price of ₹110 per share on a preferential basis to Corn Products Development Inc. This allotment increases the company's issued and paid-up share capital from ₹36.44 Crores to ₹40.05 Crores. The Board also approved the appointment of Mr. Jacques Georges Florent Guglielmi as an Additional Non-Executive Nominee Director nominated by the investor, and Mr. Niraj Yogeshbhai Shah as an Additional Non-Executive Independent Director for a three-year term, subject to shareholder approval. The equity shares allotted are subject to lock-in restrictions as per SEBI regulations.