Logistics Solution Provider-Sindhu Trade Issues Corrigendum for Rs 922.51 Crore Acquisition Plans
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The stock has also delivered a return of approximately 39.40 per cent from its 52-week low of Rs 17.64 per share.
✨ Key Takeaways
On Friday, shares of Sindhu Trade Links Ltd closed at Rs 24.59 per share, up 0.99 per cent from its previous closing price of Rs 24.35 per share. The stock touched an Intraday high of Rs 24.92 per share, representing a gain of 2.34 per cent over the previous close. The stock's 52-week high stands at Rs 39.29 per share, while its 52-week low is Rs 17.64 per share.
Sindhu Trade Links Ltd (STLL) has issued a detailed corrigendum to its Extraordinary General Meeting (EGM) notice, providing updated pricing, valuation details and allottee information related to two major acquisitions. The company is proceeding with plans to acquire majority stakes in Advent Coal Resources Pte. Ltd. and Sainik Mining and Allied Services Ltd through strategic share swap transactions.
The corrigendum was issued following communications received from the National Stock Exchange of India (NSE) and BSE in early June 2026. The exchanges sought additional clarifications regarding the company's proposed preferential issues. In response, STLL updated its explanatory statement with detailed information on pricing methodology, valuation reports and the identity of ultimate beneficial owners involved in the transactions.
The expansion plan comprises two separate transactions. Under Transaction A, STLL proposes to acquire a 78.26 per cent equity stake in Singapore-based Advent Coal Resources Pte. Ltd. for a total consideration of Rs 697.056 crore. The consideration will be discharged through the issuance of 30,04,55,030 new equity shares to designated selling shareholders.
Under Transaction B, the company intends to acquire a 50.1 per cent equity stake in Sainik Mining and Allied Services Ltd for a consideration of Rs 225.45 crore. The transaction will be settled through the issuance of 9,71,76,757 Cumulative Compulsorily Convertible Preference Shares (CCPS).
As per the Securities and Exchange Board of India (SEBI) (Issue of Capital and Disclosure Requirements) Regulations, the issue price has been determined based on the higher of the 90-day or 10-day volume-weighted average price on NSE, which was identified as the stock exchange with higher trading volumes for STLL shares.
An independent valuation conducted by Mr. Rajan Sahdev determined the market value of STLL shares at Rs 23.13 per share. However, the Board has fixed the issue price for both the proposed equity shares and CCPS at Rs 23.20 per share, consisting of a face value of Rs 1 and a premium of Rs 22.20 per share.
To facilitate these acquisitions, the company has proposed increasing its authorised share capital from Rs 156 crore to Rs 196 crore.
Both proposed acquisitions qualify as material related party transactions due to the involvement of STLL promoters. In Transaction A, promoter Dev Sindhu is a beneficiary of the Indo Pacific Partners Trust, which is among the major selling entities. Transaction B involves multiple promoters, including Rudra Sen Sindhu and Vir Sen Sindhu, as selling shareholders.
The company stated that both transactions are being executed on an arm's length basis and will not result in any change in control of Sindhu Trade Links Ltd.
The company has a market cap of over Rs 3,791.60 crore. The stock price has surged over 23.32 per cent in 2026 on a year-to-date basis.
The stock has also delivered a return of approximately 39.40 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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