Sanginita Chemicals Ltd has approved the incorporation of two wholly owned subsidiaries to drive business expansion and operational efficiency. The Board of Directors sanctioned the creation of Agastya Solar Power Private Limited in India and Agastya Global Enterprises in Dubai, UAE, during a meeting held on June 17, 2026. The company will invest ₹1,00,000 in the Indian entity and up to AED 10,000 in the Dubai-based subsidiary.

The proposed Indian subsidiary, Agastya Solar Power Private Limited, will be incorporated in Uttar Pradesh. The investment of ₹1,00,000 will be made in equity shares subscribed at a face value of ₹10 per share. This entity is expected to facilitate operational efficiency and strategic investments aligned with the company's long-term objectives.

The second subsidiary, Agastya Global Enterprises, will be established in Dubai, UAE. The company plans to invest an amount not exceeding AED 10,000, which is approximately equivalent to INR 257206.10. The primary business of this entity will involve trading in renewable energy and allied equipment, along with raw materials and finished goods associated with such activities.

Both subsidiaries will become related parties of Sanginita Chemicals Ltd upon incorporation. The company will hold 100% of the equity shares in both the Indian and Dubai-based entities. The approvals were granted in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Details of Proposed Subsidiaries

Sanginita Chemicals Ltd has approved the allotment of 1,91,57,080 fully paid-up equity shares to promoter B N G Investment LLC at an issue price of Rs 13.05 per share. The preferential allotment, approved by the Board on June 17, 2026, increases the promoter's stake in the company to 57.08%.

The issuance follows a Board Resolution passed on March 20, 2026, and a subsequent Special Resolution by shareholders on April 11, 2026. The company received in-principle approval from the National Stock Exchange of India Limited (NSE) for the preferential issue on June 3, 2026.

Post allotment, the paid-up equity share capital of the company has increased from Rs 41,18,89,060 to Rs 60,34,59,860. The newly allotted shares, which include a premium of Rs 3.05 per share over the face value of Rs 10, rank pari-passu with existing equity shares and are subject to lock-in restrictions prescribed under Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.

Details of Allotment

The preferential issue was made to a single allottee, B N G Investment LLC, categorized as a promoter. The total consideration for the allotment amounts to Rs 24,99,99,894.

Shareholding Pattern

The allotment has significantly altered the shareholding structure of the company. B N G Investment LLC's holding has increased from 1,52,87,356 shares, representing 25.33% of the pre-preferential issue capital, to 3,44,44,436 shares, representing 57.08% of the post-preferential issue capital.

The shares allotted pursuant to the preferential issue shall be directly transferred to the demat account of the proposed allottee in accordance with Regulation 22(2A) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.