Croissance Limited , a publicly traded company, has recently witnessed a significant change in its promoter shareholding. Sangeeta Bahri, a key promoter of the company, has reduced her stake through a series of open market transactions.

Transaction Details

Impact on Shareholding

The sale of shares by Sangeeta Bahri has resulted in a decrease in her ownership of Croissance Limited's total voting capital. This move represents a reduction of 2.10 percentage points in her stake in the company.

Market Implications

While the reasons behind the share sale have not been disclosed, such transactions by promoters often attract attention from market participants. Investors and analysts may closely monitor this development for potential insights into the company's future prospects or the promoter's confidence in the business.

It's important to note that promoter transactions can occur for various reasons, including personal financial planning, portfolio rebalancing, or other strategic considerations. As such, this sale should be viewed in the broader context of the company's performance and market conditions.

Shareholders and potential investors in Croissance Limited may want to keep an eye on any further announcements or disclosures from the company regarding this change in promoter shareholding.

Croissance has taken a significant step towards diversifying its business portfolio by venturing into the green energy sector. The company recently announced that it has entered into a lease agreement for 120 acres of land in the Mysuru region, Karnataka, to implement a new green energy business.

Shareholder Approval and Strategic Expansion

The company's move into the green energy sector comes with the full backing of its shareholders. During its 31st Annual General Meeting (AGM), Croissance obtained approval from its shareholders for this strategic initiative. This expansion aligns with the company's vision to tap into the growing renewable energy market and contribute to sustainable development.

Management's Vision

During the AGM, Mr. Sravan Prabhakar Veledandi, the Chairman and Managing Director of Croissance, shared the company's vision for expansion into green energy. He highlighted the company's plans to explore various areas within the sector, including:

• Green Energy projects
• Ethanol Blending Program (EBP)
• Green Hydrogen initiatives

Mr. Veledandi expressed optimism about the company's accelerated growth outlook and future success in these new ventures.

Funding the Expansion

To support its ambitious expansion plans, Croissance is exploring various funding options. The company has indicated that it may raise funds through:

• Borrowings
• Issuance of debentures and other convertible securities
• Rights issues
• Preferential allotments
• Follow-on Public Offerings (FPO)

The management has sought shareholder approval to increase the company's borrowing powers under Section 180(1)(C) of the Companies Act, 2013, and to create mortgages or charges on the company's assets under Section 180(1)(a) to facilitate these funding initiatives.

Corporate Governance and Transparency

In line with regulatory requirements, Croissance has also announced the closure of the trading window for its securities from October 1 until 48 hours after the declaration of its unaudited financial results for the quarter and financial year ended September 30. This measure ensures compliance with SEBI regulations on insider trading and maintains transparency in the company's operations.

The company's move into the green energy sector represents a significant milestone in its growth strategy. As Croissance embarks on this new venture, stakeholders will be keenly watching how this expansion unfolds and its potential impact on the company's future performance in the evolving energy landscape.