Acquisition Details
Corn Products Development Inc. (Acquirer) acquired 1,80,24,157 equity shares of Sanstar Limited (Target Company) representing 9.00% of both the expanded share capital and fully diluted share capital post-acquisition.
Transaction Specifics
- Date of Acquisition/Allotment: June 24, 2026
- Mode of Acquisition: Preferential Allotment conducted in accordance with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018
- Issue Price: ₹110 per equity share
- Total Transaction Value: ₹1,98,26,57,270 (One Hundred Ninety Eight Crores Twenty Six Lakhs Fifty Seven Thousand Two Hundred Seventy Rupees)
- Acquirer Status: Not part of promoter/promoter group of Sanstar Limited
Capital Structure Impact
- Pre-acquisition Share Capital: ₹36,44,88,500 consisting of 18,22,44,250 equity shares of face value ₹2 each
- Post-acquisition Share Capital: ₹40,05,36,814 consisting of 20,02,68,407 equity shares of face value ₹2 each fully paid
- Diluted Share Capital: Post-acquisition diluted capital remains ₹40,05,36,814 as there are no outstanding convertible securities
Holdings Details
- Pre-acquisition Holding: Nil shares (0% holding)
- Shares Acquired: 1,80,24,157 equity shares carrying voting rights
- Post-acquisition Holding: 1,80,24,157 shares (9.00% of expanded capital and 9.00% of diluted capital)
- Encumbrances: No shares under pledge, lien, non-disposal undertaking or any other encumbrance
- Convertible Instruments: No warrants, convertible securities or other instruments entitling to receive additional shares