Date: June 9, 2026
Acquisition Update
Sanginita Chemicals Ltd. has completed the acquisition of 100% stake in Agastya Green Energy Limited (AGEL) through a share swap arrangement. The acquisition was executed via preferential allotment of equity shares to B N G Investment LLC, which is a shareholder of AGEL.
Board Meeting Outcomes
The Board of Directors, through a resolution passed on June 9, 2026, approved the allotment of 1,52,87,356 fully paid-up equity shares of the company. Each share has a face value of ₹10 and was issued at a price of ₹13.05 per share (including a premium of ₹3.05). The shares were allotted on a preferential basis to B N G Investment LLC.
This allotment completes the part of the transaction stipulated under the Share Swap and Share Purchase Agreement (SSSPA).
Open Offer Compliance
Mr. Anubhav Agarwal (Acquirer to the Open Offer) has deposited an amount equal to the entire consideration payable under the open offer, assuming full acceptance. Consequently, the Board decided to credit the equity shares to the proposed allottee's account.
Meeting Details
The Board meeting for this purpose commenced at 7:00 PM and concluded at 7:15 PM on June 9, 2026.
Authorized Signatory
The disclosure was signed by Gaurav Kumar Tripathi, Whole Time Director (DIN: 06372272), who is the Authorized Signatory for Sanginita Chemicals Limited.