Suraj Industries Ltd. has completed the acquisition of additional equity shares in Shri Gang Industries and Allied Products Limited, following board approval granted during a meeting held on March 19, 2026. The company has successfully executed the strategic transaction and filed an update with BSE Limited under Regulation 30 of SEBI regulations on March 23, 2026.

Transaction Completion

The company has successfully completed the acquisition of equity shares from promoter group members as planned. Company Secretary Snehlata Sharma confirmed the transaction completion through an official regulatory filing.

Board Meeting Outcome

The board meeting was conducted from 04:00 P.M. to 05:00 P.M. (IST) on March 19, 2026, where directors considered and approved the acquisition of equity shares from promoter group members. Both transactions were classified as related party transactions and were reviewed and approved by the Audit Committee before board consideration.

About Shri Gang Industries

Shri Gang Industries and Allied Products Limited operates in the breweries and distilleries sector with established manufacturing facilities in Uttar Pradesh. The company was incorporated on August 02, 1989, and has demonstrated consistent growth in recent years.

Business Operations

Shri Gang has established comprehensive production capabilities including a bottling plant for Indian Made Foreign Liquor (IMFL) and Country Liquor facility at Sandila, District Hardoi, Uttar Pradesh, with commercial production commencing in July 2020. The company also operates a grain-based distillery commissioned in September 2022, along with strategic partnerships including an exclusive manufacturing arrangement with United Spirits Limited for prestigious IMFL brands.

Financial Performance

Shri Gang Industries has shown strong financial growth over the past three years:

The financial data demonstrates significant revenue growth and improved profitability, with turnover increasing from Rs. 138.68 crore in 2022-23 to Rs. 352.62 crore in 2024-25. The acquisitions were conducted on an arm's length basis with cash consideration, and the acquisition price was determined as the average of opening and closing market prices of Shri Gang's equity shares on BSE Limited.

Suraj Industries Ltd announced that its Board of Directors has approved amendments to the Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information (UPSI) during a meeting held on March 19, 2026. The amendments ensure compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015.

Board Approval and Regulatory Compliance

The company informed BSE Limited about the amendments pursuant to Regulation 8(2) of the SEBI (Prohibition of Insider Trading) Regulations, 2015. Company Secretary and Compliance Officer Snehlata Sharma signed the regulatory intimation, confirming the Board's approval of the updated fair disclosure framework.

Key Features of the Amended Code

The updated Code of Fair Disclosure establishes comprehensive principles for handling UPSI and ensuring transparent communication with stakeholders. The framework emphasizes prompt public disclosure of information that would impact price discovery and uniform dissemination to avoid selective disclosure.

The Company Secretary serves as the Chief Investor Relations Officer (CIRO), responsible for disseminating information and ensuring compliance with disclosure requirements. The code mandates that all UPSI be handled on a need-to-know basis within the organization.

UPSI Categories and Disclosure Framework

The amended code defines various categories of information considered as UPSI, including:

• Financial results and dividend announcements
• Changes in capital structure and business transactions
• Key managerial personnel changes and rating modifications
• Fund raising initiatives and management control agreements
• Regulatory actions and litigation outcomes
• License approvals and guarantee arrangements

Digital Database and Enforcement Measures

The company will maintain a Structured Digital Database containing names of persons with whom UPSI is shared, along with their Permanent Account Number (PAN) or authorized identifiers. The Compliance Officer oversees this database under Board supervision, ensuring adequate internal controls and confidentiality safeguards.

Violations of the code may result in disciplinary action including termination, suspension, or exclusion from employee stock option programs. The company has established a Vigil Mechanism for reporting suspected UPSI misuse while protecting whistleblowers from adverse action.

Legitimate Purpose Policy

The code includes a Policy for Determination of Legitimate Purposes, allowing UPSI sharing with partners, collaborators, lenders, customers, suppliers, merchant bankers, legal advisors, auditors, and consultants in the ordinary course of business. Recipients of UPSI for legitimate purposes are considered insiders and must maintain confidentiality in compliance with PIT Regulations.

The amended code has been uploaded on the company's website at www.surajindustries.org for stakeholder reference and regulatory compliance.