Sanstar Ltd

Sanstar Ltd has submitted its Monitoring Agency Report for the first quarter ended June 30, 2026. The report, issued by Acuité Ratings and Research Limited, confirms that the utilization of proceeds from the Preferential Issue is in line with the stated objects, with no deviation observed. The issue size was ₹198.27 Cr, and the report covers the period of Q1 FY2026-27. The company has made this report available on its website.

Sanstar Ltd announced its unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. The Board of Directors, in a meeting held on August 13, 2026, approved these results along with the limited review reports. Key decisions also included the reappointment of Gouthamchand Sohanlal Chowdhary as Managing Director and Sambhav Gautam Chowdhary and Shreyans Gautam Chowdhary as Joint Managing Directors, each for a five-year term, subject to shareholder approval. The company also announced the appointment of Jacques Georges Florent Guglielmi as Nominee Director and Niraj Yogeshbhai Shah as Independent Director. The 44th Annual General Meeting is scheduled for September 23, 2026, with book closure from September 17-23, 2026. NSDL has been appointed to provide remote e-voting facilities.

Sanstar Ltd announced the outcome of its Board Meeting held on August 13, 2026. The board approved the unaudited financial results for the quarter ended June 30, 2026. Key decisions included the re-appointment of Gouthamchand Sohanlal Chowdhary as Managing Director for a five-year term, and Sambhav Gautam Chowdhary and Shreyans Gautam Chowdhary as Joint Managing Directors for five years each. Additionally, the appointments of Mr. Jacques Georges Florent Guglielmi as Nominee Director and Mr. Niraj Yogeshbhai Shah as Independent Director were regularised. All re-appointments and regularisations are subject to shareholder approval at the upcoming Annual General Meeting.

Sanstar Ltd has commissioned a 3 MW solar power plant at its Kutch facility in Gujarat. The plant, built with an investment of approximately ₹7.5 Crore, will be used for captive consumption. It is expected to generate annual power cost savings of around ₹3 Crore and meet approximately 40% of the facility's electricity needs. This initiative enhances Sanstar's renewable energy capacity, adding to its existing 3.5 MW solar and 1.6 MW biogas power generation. The company aims to improve operational efficiency, reduce power costs, and promote sustainable manufacturing.

Sanstar Ltd has announced that its Board of Directors will convene on August 13, 2026, to consider and approve the Unaudited Standalone Financial Results for the first quarter ended June 30, 2026. The company has also informed about the closure of the trading window for designated persons from July 1, 2026, until 48 hours after the declaration of financial results, in compliance with SEBI regulations. The intimation is in accordance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Sanstar Ltd has received trading approval from both BSE and NSE for 1,80,24,157 equity shares. These shares, with a face value of Rs. 2 each, were issued at a price of Rs. 110 per share, including a premium of Rs. 108, on a preferential basis to Corn Products Development Inc. The shares are admitted to dealings on the exchanges effective July 10, 2026, and rank pari-passu with existing equity shares. The lock-in period for these shares is until January 14, 2027.

Sanstar Ltd has received in-principle approval from both BSE Limited and the National Stock Exchange of India Limited for the listing of 18,024,157 equity shares. These shares, each with a face value of Rs. 2/-, were issued on a preferential basis. The approval is contingent upon confirmation from NSDL/CDSL regarding the credit of these shares to the beneficiaries' accounts. The shares will be admitted to dealings on the exchanges once this condition is met.

Corn Products Development Inc. has acquired 1,80,24,157 equity shares of Sanstar Limited, representing 9.00% of the expanded share capital. The acquisition was made through a preferential allotment on June 24, 2026, at an issue price of ₹110 per equity share, aggregating to ₹198.27 Crores. This move complies with SEBI (SAST) Regulations, 2011, and SEBI (ICDR) Regulations, 2018. Corn Products Development Inc. is based in the USA, with its principal place of business at Ingredion Incorporated. Sanstar Limited is the target company, listed on BSE and NSE. The acquisition details were disclosed under Regulation 29(1) of SEBI (SAST) Regulations.

Corn Products Development Inc. has acquired 1,80,24,157 equity shares of Sanstar Limited, representing 9.00% of the expanded and fully diluted share capital. This acquisition was made through a preferential allotment on June 24, 2026, at an issue price of ₹110 per share, aggregating to ₹1,98,26,57,270. The filing is made pursuant to Regulation 29(1) of SEBI (SAST) Regulations, 2011. Sanstar Limited's equity share capital before the acquisition was ₹36,44,88,500, consisting of 18,22,44,250 equity shares of face value ₹2. The post-acquisition equity share capital is ₹40,05,36,814.

Sanstar Ltd has announced the closure of its trading window for designated persons and their immediate relatives. This closure is in accordance with SEBI (Prohibition of Insider Trading) Regulations, 2015. The trading window will be shut from July 1, 2026, and will reopen 48 hours after the declaration of the company's unaudited financial results for the quarter ending June 30, 2026. The specific date for the board meeting to approve these results will be communicated later. The company has also uploaded this intimation on its website.