Sanginita Chemicals Ltd has incorporated a wholly owned subsidiary named Agastya Solar Power Private Limited on July 07, 2026, to expand its business operations. The Ministry of Corporate Affairs has approved the incorporation and issued a Certificate of Incorporation for the new entity. This strategic move follows the company's earlier intimation dated June 17, 2026, regarding the formation of the subsidiary under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The newly formed subsidiary, Agastya Solar Power Private Limited, has an authorised share capital of ₹15,00,000. The paid-up and subscribed share capital of the company stands at ₹1,00,000, divided into 10,000 equity shares of ₹10 each. This capital structure provides the initial financial foundation for the subsidiary's operations.

Financial Details of Agastya Solar Power Private Limited

The disclosure was made to the National Stock Exchange of India Limited in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company had initially informed the exchange about its intention to incorporate this subsidiary on June 17, 2026. The detailed information regarding the subsidiary is available in the prior disclosure submitted by the company.

For Sanginita Chemicals Limited, the filing was signed by Gaurav Kumar Tripathi, Whole Time Director. The incorporation marks a significant step in the company's corporate structure as it establishes a dedicated entity for solar power operations.

B N G Investment LLC and Mr. Anubhav Agarwal have concluded an open offer to acquire shares of Sanginita Chemicals Limited , securing a 68% stake in the company through a combination of an open offer, preferential allotment, and a share swap agreement. The acquirers targeted 26% of the emerging fully diluted voting equity share capital via the open offer at a price of ₹13.55 per share. The offer, which opened on June 10, 2026, and closed on June 23, 2026, saw significantly lower participation than initially proposed, with only 9,004 shares tendered and accepted against the maximum offer size of 1,56,89,957 shares.

Acquisition Details

The total acquisition strategy involved multiple transaction types. Prior to the open offer, the acquirers completed a Share Swap and Share Purchase Agreement (SSSPA) on March 20, 2026, acquiring 65,78,994 shares, representing 10.90% of the fully diluted equity share capital. Additionally, the Board of Directors of Sanginita Chemicals Limited approved a preferential allotment of 3,44,44,436 shares to B N G Investment LLC, constituting 57.08% of the expanded capital. These preferential shares were allotted in two tranches on June 9, 2026, and June 17, 2026.

Post-Offer Shareholding

Following the conclusion of the open offer and the completion of the preferential allotment, the acquirers' aggregate shareholding reached 4,10,32,434 equity shares, amounting to 68% of the fully diluted voting equity share capital. The public shareholding consequently adjusted to 32%, comprising 1,93,13,552 shares. The consideration for the shares acquired through the open offer was paid on June 30, 2026.

Transaction Summary

Finshore Management Services Limited acted as the Manager to the Offer, while Purva Sharegistry (India) Private Limited served as the Registrar to the Offer. The post-offer advertisement was published on July 7, 2026, in compliance with Regulation 18(12) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.