Dhampure Speciality Sugars Limited has seen a significant change in its shareholding structure, with promoter group member Ananya Gupta increasing her stake in the company through a preferential allotment of warrants.

Key Details of the Transaction

Impact on Shareholding

The preferential allotment has resulted in a substantial increase in Ananya Gupta's stake in Dhampure Speciality Sugars Limited. Prior to the transaction, Gupta held 59,550 shares, representing 0.75% of the company's total issued and paid-up share capital. Following the acquisition of 2,00,000 warrants, her total holding has increased to 2,59,500 securities, which includes both shares and warrants.

Significance of the Transaction

This transaction is notable for several reasons:

1. Promoter Involvement: As a member of the promoter group, Gupta's decision to increase her stake may be seen as a sign of commitment to the company.

2. Substantial Increase: The acquisition represents a significant jump in Gupta's ownership, from 0.75% to 3.27% of the company's equity share capital.

3. Use of Warrants: The use of warrants for this transaction allows for a future increase in equity without immediate dilution.

Company Overview

Dhampure Speciality Sugars Limited's equity share capital remains unchanged at 79,31,200 equity shares, each with a face value of Rs. 10. The company's shares are listed on the BSE Limited.

It's important to note that while the warrants have been allotted, they are convertible into equity shares at a future date. This structure provides flexibility for both the company and the investor, allowing for capital infusion while potentially deferring full equity dilution.

Dhampure Speciality Sugars Limited , a key player in the sugar industry, has successfully concluded its 33rd Annual General Meeting (AGM) with shareholders approving several important resolutions, including the re-appointment of Mr. Ajay Goyal as a Non-Executive Independent Director for a second term of five years.

Key Highlights of the AGM

The AGM, held on September 30, at the company's registered office in Uttar Pradesh, saw active participation from shareholders. Here are the main outcomes:

1. Re-appointment of Ajay Goyal: Shareholders approved the special resolution to re-appoint Mr. Ajay Goyal (DIN: 02323366) as a Non-Executive Independent Director for a second term of five years, effective from July 20.

2. Financial Statements Adoption: The audited financial statements for the fiscal year ended March 31, along with the reports of the Board of Directors and Auditors, were adopted.

3. Director Re-appointment: Mrs. Praveen Singh (DIN: 07145827), who retired by rotation, was re-appointed as a Director.

4. Secretarial Auditor Appointment: The appointment of Mrs. Uma Verma as the Secretarial Auditor was approved.

Voting Results

The resolutions were passed with overwhelming support from shareholders. The voting results showed:

Profile of Ajay Goyal

Mr. Ajay Goyal brings over 35 years of diverse experience to Dhampure Speciality Sugars. His expertise spans construction, renewable energy, waste management, and manufacturing. Goyal holds a post-graduate degree in commerce from Meerut University and currently serves as Managing Director at Ved Gyan Infrastructure Private Limited and Director at Envio Energy Technologies Private Limited.

The company expects Goyal's extensive experience in renewable energy and waste management to contribute significantly to reducing manufacturing costs, potentially boosting the company's operational efficiency.

Management Commentary

Sorabh Gupta, Chairman and Managing Director of Dhampure Speciality Sugars, presided over the AGM. The meeting was attended by key company officials, including Mrs. Praveen Singh (Non-Executive Women Director), Mr. Mohd Arshad Suhail Siddiqui (Non-Executive Independent Director), and Mr. Aneesh Jain (Company Secretary).

Trading Window Closure

In compliance with SEBI regulations, Dhampure Speciality Sugars has announced the closure of the trading window for designated persons from October 1, until 48 hours after the declaration of financial results for the quarter and half-year ending September 30.

The successful conclusion of the AGM and the strong shareholder support for all resolutions indicate a positive outlook for Dhampure Speciality Sugars as it moves forward with its strategic plans and corporate governance initiatives.