Summary of Key Information:
Nature of Filing / Announcement: Outcome of Board Meeting under Regulation 30 of SEBI LODR Regulations
Key Financial Highlights:
Capital Structure Change:
- Pre-issue paid-up share capital: ₹36,44,88,500 (Rupees Thirty-Six Crores Forty-Four Lakhs Eighty-Eight Thousand Five Hundred Only)
- Post-issue paid-up share capital: ₹40,05,36,814 (Rupees Forty Crores Five Lakhs Thirty Six Thousand Eight Hundred and Fourteen Only)
- Increase in capital due to preferential allotment of 1,80,24,157 equity shares
Corporate Actions:
Preferential Allotment:
- Allotment of 1,80,24,157 (One Crore Eighty Lakh Twenty-Four Thousand One Hundred and Fifty-Seven) fully paid-up Equity Shares
- Face value: ₹2/- per share
- Issue price: ₹110 per share (includes premium of ₹108)
- Total issue size: ₹1,98,26,57,270/- (Rupees One Hundred and Ninety-Eight Crore Twenty-Six Lakh Fifty-Seven Thousand Two Hundred and Seventy Only)
- Allottee: Corn Products Development Inc. (incorporated under laws of State of Delaware, USA)
- Lock-in: As prescribed under SEBI (ICDR) Regulations, 2018
- Pre-issue shareholding of investor: 0%
- Post-issue shareholding of investor: 8%
Director Appointments:
1. Mr. Jacques Georges Florent Guglielmi (DIN: 10603100)
- Appointment as Additional (Non-Executive Nominee Director)
- Nominated by Corn Products Development Inc. (Investor)
- Appointment made pursuant to Share Subscription Agreement and Shareholders Agreement dated May 28, 2026
- Current position: Vice President, Asia-Pacific and Global Pharma Beauty & Home - Singapore COO PureCircle @ Ingredion Incorporated
- Former position: Vice President and General Manager China-Shanghai @ Ingredion Incorporated
- Appointment effective from 24th June, 2026, to be regularized in forthcoming AGM
2. Mr. Niraj Yogeshbhai Shah (DIN: 06362791)
- Appointment as Additional Director (Non-Executive Independent Director)
- Term: Three (3) consecutive years effective from 24th June, 2026
- Subject to shareholder approval in forthcoming Annual General Meeting
- Background: Managing Director of Rajkrupa Textiles (India) Private Limited
- Experience: Over two decades in textile and apparel industry
- Education: Bachelor of Science and Master of Science in Textiles from North Carolina State University, USA
- Expertise: Strategic planning, manufacturing operations, supply chain management, international business development, capital investments, corporate governance
- Satisfies independence criteria under Companies Act, 2013 and SEBI LODR Regulations
Other Significant Information:
- Company received in-principle approval from NSE and BSE on June 15, 2026
- Previous intimations dated May 28, 2026 and June 16, 2026 referenced
- Intimation hosted on company website: www.sanstar.in