Suraj Industries Ltd has acquired 3,99,800 equity shares of Shri Gang Industries and Allied Products Limited through off-market inter-se transfers from promoters Ritesh Gupta and Vikas Gupta. The acquisition, disclosed under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, was filed on April 01, 2026.

Acquisition Details

Suraj Industries executed the acquisition through multiple transactions between September 2025 and March 2026:

All transactions were conducted through off-market inter-se transfers among the promoter group, with March 30, 2026, being the last date triggering the disclosure requirement.

Shareholding Pattern Changes

The acquisition significantly altered the shareholding structure of Shri Gang Industries:

Following these transactions, Ritesh Gupta and Vikas Gupta no longer hold direct equity stakes in Shri Gang Industries, having transferred their entire holdings to Suraj Industries.

Capital Structure Updates

Shri Gang Industries' equity share capital increased during this period from Rs. 17,93,00,000 comprising 1,79,30,000 equity shares to Rs. 19,98,00,000 comprising 1,99,80,000 equity shares of Rs. 10 each. This increase resulted from the allotment of 2,50,000 new equity shares on March 30, 2026, pursuant to conversion of 2,50,000 compulsorily convertible preference shares.

Diluted Share Capital

The total diluted share capital stands at Rs. 22,21,75,060 divided into 2,22,17,506 securities, including:

Additionally, Express Infra Financial Consultancy Private Limited, a PAC, holds 3,63,131 convertible securities representing 1.63% of the diluted capital.

Regulatory Compliance

The disclosure was made pursuant to Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Suraj Industries belongs to the promoter/promoter group of Shri Gang Industries, and the shares are listed on BSE Limited. The acquisition represents a strategic consolidation within the promoter group structure.

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.

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%.

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.

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.