Sanstar board to meet on May 28 to discuss fund raising

Sanstar Limited has scheduled a board meeting for May 28, 2026, to deliberate on fund raising proposals and other matters. The Board will consider raising capital by issuing equity shares and other eligible securities through permissible modes such as private placement, preferential issue, rights issue, or qualified institutional placement. Any decision will be subject to regulatory and statutory approvals, including potential shareholder consent via postal ballot or an extraordinary general meeting.

Pursuant to the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015, the trading window for dealing in the company's securities will be closed for all Directors, Officers, Connected Persons, Designated Persons, Insiders, and their immediate relatives. This closure takes effect from May 25, 2026, and will remain in force until 48 hours after the declaration of the board meeting outcome.

The meeting will also address ancillary actions related to the fund raising proposals and other incidental matters as deemed appropriate by the Board. The company operates in compliance with the Companies Act, 2013, and the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.

Key Agenda Items

Agenda Item	Details
Fund Raising	Issue of equity shares and/or other eligible securities via private placement, preferential issue, rights issue, or qualified institutional placement
Shareholder Approval	Notice for seeking approval through postal ballot and/or extraordinary general meeting
Trading Window Closure	Effective from May 25, 2026, until 48 hours post-board meeting outcome

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+7.60%	+2.89%	+31.06%	+24.54%	+23.38%	+0.15%

Sanstar Limited announced on 12th May 2026 the commissioning of its expanded native starch manufacturing capacity at its Dhule facility in Maharashtra. This development marks a significant milestone in the company's growth journey and is part of its broader capacity expansion plan funded through IPO proceeds. The entire amount of Rs. 1,816 million allocated towards the Dhule expansion has now been fully utilised.

Capacity Expansion at a Glance

With this commissioning, Sanstar has increased its total installed capacity from 1,100 TPD to 2,350 TPD, positioning itself to become one of the largest manufacturers in India's maize-based specialty products industry. The following table summarises the manufacturing footprint across Sanstar's facilities:

Facility	Capacity	Process
Kutch, Gujarat	350 TPD	Wet Milling Process
Dhule, Maharashtra (1)	750 TPD	Wet Milling Process
Dhule, Maharashtra (2)	1,250 TPD	Wet Milling Process
Total	2,350 TPD

The expansion is being implemented in two phases. While the native starch capacity has now been commissioned, the derivatives facility at Dhule is expected to be commissioned within FY2026-27.

Strategic Significance and Product Portfolio

The Dhule facility is strategically located near key maize-growing regions and major ports, providing strong logistical advantages and supporting efficient sourcing and export operations. The expanded capacity is expected to improve operational efficiencies, enhance scale benefits, and strengthen the company's ability to cater to growing domestic and international demand.

Sanstar's diverse product portfolio spans multiple categories:

Native Starch Products
Modified Starch Products: Yellow Dextrin, Oxidized Starch, White Dextrin, Cationic Starch, Pregel Starch
Derivatives Products: Meltodextrin Powder, Liquid Glucose, Liquid Dextrose, Dextrose Monohydrate, Dextrose Anhydrous, Dried Glucose Solids
Co-Products: Gluten, Fiber, Maize Steep Liquor, Enriched Protein, Germ

Based on FY25 revenues, the segment breakdown was approximately food/personal care at ~45%, animal nutrition at ~25%, and industrials/others at ~30%.

Management Commentary

Commenting on the development, Mr. Gouthamchand Chowdhary, Chairman and Managing Director, stated: "The commissioning of our expanded native starch capacity at Dhule marks an important milestone in Sanstar's growth journey. This expansion strengthens our manufacturing capabilities and enhances our ability to serve a diverse and growing customer base across industries."

He further noted that despite originally planning for a 1,000 MTPD expansion at the time of the IPO, the company has successfully scaled its installed crushing capacity to 1,250 MTPD, demonstrating strong execution capability and operational efficiency. "With the full utilization of IPO proceeds towards this project, we are now well positioned to scale our operations. The upcoming commissioning of the derivatives facility will further enhance our product portfolio, enabling us to move towards higher value-added offerings," he added.