Logistics Solution Provider-Sindhu Trade approves acquisition of 78.26% stake in Advent Coal Resources and 50.10% stake in Sainik Mining
Prajwal DSIJ / 23 May 2026 / Categories: Mindshare, Trending
The stock has delivered returns of around 55.05 per cent from its 52-week low of Rs 17.64 per share.
Shares of Sindhu Trade Links Ltd gained after the company announced a series of strategic acquisitions and preferential issuances worth over Rs 922 crore through a share swap mechanism.
The company informed exchanges that its board, at a meeting held on May 22, 2026, approved an increase in authorised share capital from Rs 156 crore divided into 156 crore equity shares of Re 1 each to Rs 196 crore comprising 186 crore equity shares and 10 crore preference shares of Re 1 each. The company will also alter Clause V of its Memorandum of Association following shareholder approval.
The board further approved the acquisition of 78.26 per cent stake in Advent Coal Resources Pte. Ltd., Singapore, representing 16,477 equity shares. The acquisition includes purchase of 53.67 per cent stake from a related party. The total consideration for the transaction is Rs 697.056 crore, calculated at Rs 4,23,047.70 per share.
To complete the acquisition, the company will issue up to 30,04,55,030 equity shares on a preferential basis at a face value of Re 1 and premium of Rs 22.20 per share to the existing shareholders of Advent Coal Resources Pte. Ltd. The allotment will be carried out in one or more tranches subject to shareholder and regulatory approvals.
Among the proposed allottees for Transaction A, Indo Pacific Partners (PTC) Ltd, trustee of The Indo Pacific Partners Trust, will receive 20,60,53,398 equity shares, translating into an 11.18 per cent post-issue stake. Astrea Fund Ltd will receive 7,51,63,903 shares, while RMK Investments Pte. Ltd, Sub Rosa Partners Pte. Ltd, Artham Resources Management - FZCO and Sharifah Binti Syed Mohamad will receive smaller allocations.
The company also approved acquisition of 50.10 per cent stake in Sainik Mining and Allied Services Ltd through purchase of 21,36,765 equity shares from existing shareholders, all of whom belong to the promoter or promoter group of Sindhu Trade Links Ltd. The total consideration for this transaction is Rs 225.45 crore.
As part of Transaction B, the company will issue up to 9,71,67,757 compulsorily convertible preference shares (CCPS) at a face value of Re 1 and premium of Rs 22.20 per CCPS. The CCPS will be convertible into equity shares in a 1:1 ratio and will rank pari-passu with existing equity shares. The instrument carries a maximum tenure of 18 months with an early conversion option.
Under Transaction B, Sainik Mining India Pvt Ltd will receive 4,65,51,740 CCPS. Promoters including Rudra Sen Sindhu, Vir Sen Sindhu, Vrit Pal Sindhu, Abhimanyu Sindhu, Satyapal Sindhu and Dev Sindhu will also receive CCPS under the preferential allotment.
The company stated that the acquisitions are aimed at consolidating its asset portfolio and operations. Advent Coal Resources Pte. Ltd effectively owns 100 per cent economic interest in the MEC Coal Project in Indonesia along with associated Logistics infrastructure. Meanwhile, Sainik Mining and Allied Services Ltd operates in mine development, overburden removal, coal extraction and transportation contracts.
For the financial year 2024-25, Sainik Mining and Allied Services Ltd reported turnover of Rs 1,088.53 crore, compared to Rs 1,045.59 crore in 2023-24 and Rs 979.97 crore in 2022-23. Advent Coal Resources Pte. Ltd reported nil turnover during the last three financial years.
The board fixed May 19, 2026 as the relevant date for determining the floor price for the proposed preferential issues under SEBI ICDR Regulations. The company will seek shareholder approval through an Extraordinary General Meeting scheduled for June 18, 2026. Ms. Payal Sharma, Practicing Company Secretary, has been appointed as scrutinizer for the e-voting process.
The company has a market cap of over Rs 4,217.18 crore. The stock price has surged over 25.06 per cent in the last 1 year.
The stock has delivered returns of around 55.05 per cent from its 52-week low of Rs 17.64 per share.
Disclaimer: The article is for informational purposes only and not investment advice.
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