Sundaram Multi Pap EGM approves preferential issue for acquiring Sundaram Land and Assets
Sundaram Multi Pap EGM approved a ₹23.58 crore preferential issue of 7.04 crore equity shares at ₹3.35 each, to acquire 52.38% stake in Sundaram Land and Assets Private Limited.
The approval of a preferential issue for the acquisition of a 52.38% stake in another company represents a strategic corporate action that could lead to future business growth and synergy for the company.
The EGM approved a preferential issue of equity shares for the acquisition of a majority stake in Sundaram Land and Assets Private Limited, indicating a strategic move for business expansion.
* Sundaram Multi Pap Limited held an Extra Ordinary General Meeting (EGM) on Wednesday, November 12, 2025, from 11:00 A.M. to 11:40 A.M. via Video Conference (VC)/Other Audio Video Means (OAVM). * The EGM approved a special resolution for a preferential issue of up to 7,04,00,000 fully paid-up Equity Shares of ₹1/- each at a price of ₹3.35/- per share, including a premium of ₹2.35/-. * The total issue aggregates to ₹23,58,40,000/- (₹23.58 crore). * The shares are being issued to Non-Promoter Shareholders of M/s. Sundaram Land and Assets Private Limited as consideration (other than cash) for acquiring 27,50,000 Equity Shares, representing 52.38% of the target company's shareholding. * Remote e-voting for eligible shareholders was open from Sunday, November 09, 2025, to Tuesday, November 11, 2025, with a cut-off date of November 05, 2025. E-voting was also available during the EGM.
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Sundaram Multi Pap Limited filed this with the NSE as a statutory disclosure, categorised under egm. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Sundaram Multi Pap Limited. Read the original for the full detail.