Summary of Key Information:

Nature of Filing / Announcement: Outcome of Board Meeting for preferential allotment of equity shares for consideration other than cash

Key Financial Highlights:

Corporate Actions:

  • Board approved allotment of 1,52,87,356 fully paid-up equity shares of face value Rs. 10/- each
  • Issue price: Rs. 13.05 per share (including a premium of Rs. 3.05)
  • Total consideration: Rs. 19,94,99,995.80
  • Shares allotted for consideration other than cash in exchange for acquisition of 95,00,000 equity shares representing 100% shareholding of Agastya Green Energy Limited (AGEL)
  • Post-allotment, paid-up equity share capital increased from Rs. 25,90,15,500 (comprising 2,59,01,550 equity shares) to Rs. 41,18,89,060 (comprising 4,11,88,906 equity shares)

Other Significant Information:

Acquisition Details:

  • Through this share swap, AGEL becomes a wholly owned subsidiary of Sanginita Chemicals Limited
  • AGEL has two wholly owned subsidiaries: Agastya Energy Industries Private Limited and Agastya Solar UPI Private Limited
  • AGEL has two associate entities: BN UP Kusum Solar 1 Private Limited and IMC Solar BON LLP
  • Post-acquisition, Agastya Energy Industries Private Limited and Agastya Solar UPI Private Limited become step-down subsidiaries of Sanginita Chemicals Limited

Allottee Details:

  • Single allottee: B N G Investment LLC
  • Category/Status: Promoter
  • Post-allotment holding: 1,52,87,356 equity shares (25.33% stake)

Corporate Structure:

  • Factory: Block No. 1133, Nr.GIDC-Chhatral Phase IV, At.: Chhatral, Ta. Kalol, Dist. Gandhinagar, Gujarat State

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