Sanstar Ltd Receives In-Principle Approval for Preferential Issue

Sanstar Ltd has received in-principle approval from BSE Limited and National Stock Exchange of India Limited for the preferential issue of 1,80,24,157 equity shares. The shares will be issued at a price of Rs. 110 each (including a premium of Rs. 108) to Corn Products Development Inc., a non-promoter entity. This approval is a crucial step towards the fundraising exercise, subject to further regulatory compliances and listing requirements.