Sindhu Trade Links EGM clears ₹922.506 cr deals (2026)

What STLL shareholders approved on June 18

Sindhu Trade Links Limited (STLL) said it received shareholder approval at an Extraordinary General Meeting (EGM) held online on June 18, 2026 for a capital restructuring and two strategic acquisitions. The company disclosed that all four resolutions were passed with over 99.99% approval from public shareholders. The agenda included raising authorised share capital and approving majority-stake purchases in Advent Coal Resources Pte. Ltd. (Singapore) and Sainik Mining and Allied Services Limited. STLL also stated that the EGM cleared material related party transactions connected to these deals. The company conducted the meeting via video conferencing and other audio-visual means, and said the necessary quorum was met. It also informed exchanges that voting results and the scrutinizer’s report were submitted as required under SEBI and Companies Act regulations.

Why the structure matters: share-swap, not cash

A central feature of STLL’s plan is that both acquisitions are structured through preferential allotments rather than cash payments. In its disclosures, the company explained that this required aligning its capital structure with the securities to be issued for the transactions. The EGM approvals therefore covered both the acquisitions and the enabling corporate actions needed to issue new equity shares and preference shares. This also explains why the resolutions included a capital increase, changes to the Memorandum of Association (MoA), and approvals for related party transactions. The company’s filings said the transactions are to be executed through issuance of equity shares and Cumulative Compulsorily Convertible Preference Shares (CCPS).

Four resolutions: two ordinary and two special

According to the company’s disclosure, shareholders approved two Ordinary Resolutions and two Special Resolutions. The two Ordinary Resolutions related to (1) increasing authorised share capital and altering the capital clause of the MoA, and (2) approving proposed material related party transactions. The two Special Resolutions were approved to execute the Advent Coal transaction and to complete the Sainik Mining acquisition. STLL stated that public shareholder approval exceeded 99.99% for the resolutions. The company positioned the approvals as key steps to move forward with the preferential issues proposed for the acquisitions.

Authorised capital raised to support preferential issues

A key enabling step approved at the EGM was an increase in STLL’s authorised share capital from ₹156 crore to ₹196 crore. The company also approved amendments to the MoA to reflect the revised capital clause. In its board and EGM-related disclosures, STLL described the revised structure as authorised share capital of ₹196 crore divided into 186 crore equity shares of ₹1 each and 10 crore preference shares of ₹1 each. The company said this expansion is intended to create headroom for issuing new equity shares and preference shares under the preferential issue route. The updated disclosures indicated the enlarged authorised capital would allow issuance of equity shares and preference shares within the revised limits.

Acquisition 1: 78.26% of Advent Coal Resources (Singapore)

STLL approved the acquisition of a 78.26% stake in Singapore-based Advent Coal Resources Pte. Ltd. The total consideration for this transaction was disclosed as ₹697.056 crore. The company said the consideration will be discharged through issuance of 30,04,55,030 new equity shares to designated selling shareholders. The issue price disclosed for these equity shares is ₹23.13 per share, as per the company’s updated EGM notice and corrigendum. A separate board disclosure also referenced issuance of up to 30,04,55,230 equity shares, indicating the allotment could be “up to” that number. In both versions of the disclosure, the structure is presented as a share-swap transaction, implying no cash outflow for consideration.

Acquisition 2: 50.1% of Sainik Mining via CCPS

The EGM also approved STLL’s plan to acquire a 50.1% equity shareholding in Sainik Mining and Allied Services Limited. The company’s disclosure stated this comprises 21,36,765 equity shares of Sainik Mining. The total consideration for this acquisition is ₹225.45 crore. Unlike the Advent Coal transaction, the consideration here will be settled through issuance of 9,71,76,757 CCPS by STLL on a preferential basis. The CCPS are disclosed to be convertible on a 1:1 basis into equity shares within 18 months. STLL described the arrangement as a share swap based on an agreed exchange ratio.

Pricing, “relevant date”, and SEBI lock-in conditions

STLL’s updated EGM notice and corrigendum included pricing and lock-in details for the preferential securities. The company disclosed that an independent valuer, Mr. Rajan Sahdev, determined the equity share price at ₹23.13. STLL fixed May 19, 2026 as the relevant date for pricing the preferential allotments, which is used to determine the minimum issue price under applicable regulations. The company also stated that the equity shares and CCPS issued under the preferential route will be subject to SEBI lock-in requirements. The lock-in period specified is 18 months for the Promoter Group and 6 months for others. These conditions act as guardrails around issuance and transferability of the preferential securities once allotted.

Exchange queries and the revised EGM notice

Before the EGM, STLL told exchanges it had updated its EGM notice after observations and requests for additional information from the National Stock Exchange (NSE) and BSE. The revisions related to the explanatory statement for Special Resolution item numbers 3 and 4 in the EGM notice originally issued on May 25, 2026. STLL said it sought in-principle approvals from NSE and BSE for both transactions and provided revised disclosures during the review process. The company clarified that the amendments form part of the original EGM notice and should be read together with it, while other terms and conditions remained unchanged. The updated notice was also made available on the company’s website.

Stock and financial context cited in disclosures

The disclosures included multiple snapshots of market context. In one update, the company said its shares had increased by 35.44% recently. A separate stock-market update said that at 3:20 pm, STLL shares were at ₹24.50 on the BSE, up 1.45% or ₹0.35, and at ₹24.46 on the NSE, up 0.45% or ₹0.11. Another market reference in the provided text said the stock was down by about 1% at ₹26.81 on the BSE and down 0.96% at ₹26.78 on the NSE at that point of time. On financials, the company communication cited a consolidated profit of ₹13 crore for the quarter ended March 2026, compared with a loss of ₹58.98 crore in the same period of the previous year. For FY2025-26, it cited consolidated net profit of ₹57.44 crore, down from ₹121.59 crore in FY2024-25, and total income of ₹579.65 crore, down from ₹2,292 crore in the previous fiscal year.

Key numbers at a glance

What investors may track next

The EGM approvals clear the corporate steps STLL said were required to execute preferential allotments and complete the two acquisitions. Investors typically track subsequent exchange filings for allotment completion, tranche details (where applicable), and receipt of in-principle and final approvals referenced by the company. Since the consideration is to be discharged through securities issuance rather than cash, attention often centres on the final number of securities allotted and the resulting shareholding changes. The lock-in periods disclosed by the company also set timelines for when preferential allotment recipients may be able to transfer the securities, subject to regulations.

Conclusion

Sindhu Trade Links’ June 18, 2026 EGM approved a rise in authorised share capital to ₹196 crore and cleared acquisitions of Advent Coal Resources and Sainik Mining for a combined consideration of ₹922.506 crore. The company has disclosed issue pricing, conversion terms for CCPS, the relevant date for preferential pricing, and SEBI lock-in conditions. STLL has also stated it has submitted voting outcomes and the scrutinizer’s report to exchanges, and made documents available through official and exchange platforms. The next steps, as indicated in the disclosures, are tied to the preferential allotment process and the regulatory and exchange clearances associated with executing the transactions.