Sanstar Secures ₹198.3 Crore Investment and Mega Joint Venture with Ingredion
#SanstarLimited #Ingredion #SpecialtyIngredients #PharmaExcipients #MakeInIndia #AgriBusiness #JointVenture #IndianPharma"India represents an increasingly important growth market for Ingredion. Sanstar's sourcing and manufacturing capabilities, combined with Ingredion's formulation and go to market expertise, creates the opportunity to offer food and pharma customers differentiated offerings to serve the rapidly evolving needs of Indian consumers while also providing export opportunities from India.” - Jim Zallie, Chairman, President and CEO - Ingredion Incorporated
June 2026 : Ahmedabad-based Sanstar Limited has partnered with the $7.2 billion US multinational giant, Ingredion Incorporated. The two companies have locked in two definitive agreements designed to accelerate the development of high-value specialty ingredients and pharmaceutical excipients right here in India.
The alliance kicks off with a major financial injection, as Sanstar’s board approved a preferential equity allotment to Ingredion at Rs 110 per share, aiming to raise a whopping Rs 198.3 crore. This financial boost will significantly fortify Sanstar’s balance sheet, fueling its capacity expansion and paving the way for advanced technology transfers in plant-based ingredients and starch derivatives. But the real magic lies in their second agreement: a joint venture entity that will build a brand-new manufacturing facility in western India to cater to premium food and pharma markets.
Reflecting on what this means for the company's trajectory, Gautam Chowdhary, Managing Director, Sanstar Limited, said, "This partnership with Ingredion marks a defining chapter in Sanstar's evolution from a leading corn starch manufacturer to a full-spectrum specialty ingredients company. The preferential issue brings in a world-class, strategic anchor investor, while the Joint Venture will allow us to co-create high-value products for sectors that demand precision, purity, and innovation. We are confident this collaboration has the potential to support significant long-term value creation for all our stakeholders."
By combining Sanstar’s robust local sourcing and manufacturing setup with Ingredion's legendary formulation and global go-to-market muscle, the duo is perfectly positioned to capture a booming consumer base. Jim Zallie, Chairman, President and CEO, Ingredion Incorporated added, "India represents an increasingly important growth market for Ingredion. Our partnership with Sanstar expands our presence with a reputable local partner that complements our existing businesses in India with the opportunity to scale a broad specialty ingredients platform. Sanstar's sourcing and manufacturing capabilities, combined with Ingredion's formulation and go to market expertise, creates the opportunity to offer food and pharma customers differentiated offerings to serve the rapidly evolving needs of Indian consumers while also providing export opportunities from India."
With Sanstar recently doubling its processing capacity to 2,350 tonnes per day, this timely partnership proves that Indian agribusinesses are no longer just feeding the nation - they are scaling up to innovate for the entire world.
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