Express Infra Acquires 2.5 Lakh Shares in Shri Gang Industries via CCPS Conversion

Shri Gang Industries and Allied Products Limited has completed the allotment of 2,50,000 equity shares through the conversion of Compulsorily Convertible Preference Shares (CCPS) to Express Infra Financial Consultancy Private Limited, a promoter group entity. The transaction was executed on March 30, 2026, following approval from the company's Preferential Issue Committee.

Share Conversion and Acquisition Details

The conversion involved 2,50,000 CCPS with a face value of Rs. 10.00 each, converted into an equal number of equity shares at Rs. 99.00 per share through preferential allotment on a private placement basis. Express Infra Financial Consultancy filed the mandatory disclosure under Regulation 29(2) of SEBI Takeover Regulations on April 01, 2026.

Transaction Details:	Specifications
CCPS Converted:	2,50,000 shares
Face Value:	Rs. 10.00 each
Conversion Price:	Rs. 99.00 each
Allotment Date:	March 30, 2026
Disclosure Date:	April 01, 2026

Shareholding Pattern Changes

Following this acquisition, Express Infra Financial Consultancy's shareholding in Shri Gang Industries increased significantly. The entity's voting rights increased from 3.55% to 4.75% of the total share capital, while the overall promoter and promoter group holding rose to 40.21%.

Shareholding Pattern:	Before Acquisition	After Acquisition
Express Infra Voting Rights:	3.55% (7,00,000 shares)	4.75% (9,50,000 shares)
Other PACs Voting Rights:	35.91% (70,85,305 shares)	35.46% (70,85,305 shares)
Total Promoter Group:	39.46%	40.21%

Impact on Capital Structure

The share conversion resulted in an expansion of Shri Gang Industries' equity base. The paid-up equity share capital increased from Rs. 19,73,00,000 to Rs. 19,98,00,000, with the total number of equity shares rising to 1,99,80,000 from 1,97,30,000.

Capital Structure:	Post-Conversion
Paid-up Equity Capital:	Rs. 19,98,00,000
Total Equity Shares:	1,99,80,000 shares
Total Diluted Capital:	Rs. 22,21,75,060
Diluted Share Count:	2,22,17,506 shares

Promoter Group Structure

The disclosure revealed an extensive promoter and promoter group network comprising 16 entities acting in concert. Key members include Suraj Industries Limited, various members of the Gupta family, Universal Share Trading and Consultancy Company Ltd, and Almondz Global Securities Limited (formerly Allianz Securities Limited).

This transaction demonstrates the promoter group's continued commitment to increasing their equity participation in Shri Gang Industries while maintaining compliance with SEBI regulations and disclosure requirements.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-7.37%	-7.65%	-9.19%	-11.21%	-35.50%	+2,840.59%

Shri gang industries and Allied Products Limited has informed the stock exchange about receiving significant tax demand notices from Uttar Pradesh tax authorities for the Financial Year 2022-23. The company disclosed this development under Regulation 30 of SEBI Listing Regulations on April 01, 2026.

Tax Assessment Details

The Deputy Commissioner, State Tax, Sikandrabad, Uttar Pradesh has issued tax assessment orders under two separate provisions:

Tax Provision:	Demand Amount
Section 9(2) of Central Sales Tax Act, 1956:	₹65,45,526.04
Section 28(2)(ii) of UP VAT Act:	₹27,51,17,663
Total Demand:	₹28.17 crore (approx.)

The company received these orders on March 31, 2026, and has committed to filing appeals against the demand orders with appropriate authorities within the prescribed time limit.

Nature of Dispute

The tax assessment involves charging higher rates of VAT/CST on products sold by the company. Shri Gang Industries disputes this assessment and characterizes the demands as not maintainable based on their evaluation. The company is exploring all available legal options, including filing appeals against the orders.

Company's Response and Impact Assessment

The management has indicated that they do not anticipate any adverse impact on the company's financials, operations, or other activities. The company is currently evaluating all available options to contest the tax demands through appropriate legal channels.

Assessment Parameter:	Company Position
Demand Status:	Disputed and not maintainable
Legal Action:	Appeals to be filed within prescribed time
Financial Impact:	No adverse impact envisaged
Operational Impact:	No disruption expected

This disclosure was made by Company Secretary and Compliance Officer Kanishka Jain as part of the company's regulatory compliance obligations under SEBI Listing Regulations.