Suraj Industries Updates Shareholding to 20.02% in Shri Gang Industries
Suraj Industries Ltd has completed its second acquisition of 25,000 equity shares in Shri Gang Industries from promoter group member Vikas Gupta. Due to Shri Gang's conversion of 2,50,000 CCPS into equity shares at ₹99 per share, increasing paid-up capital to ₹19,98,00,000, Suraj's shareholding has been revised to 20.02% of the expanded share capital.
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Suraj Industries Ltd has officially completed its second acquisition of additional equity shares in Shri Gang Industries and Allied Products Limited, with the company's shareholding now revised to 20.02% following capital structure changes at the target company. The completion was confirmed through a regulatory filing dated March 30, 2026.
Acquisition Completion Details
The company successfully completed the acquisition of 25,000 equity shares from Mr. Vikas Gupta, a promoter group member of Shri Gang Industries. This follows the earlier completion of acquiring 24,800 equity shares from Mr. Ritesh Gupta on March 27, 2026, both transactions having received Board approval on March 26, 2026.
| Transaction Details: | Specifications |
|---|---|
| Second Acquisition: | 25,000 equity shares from Mr. Vikas Gupta |
| First Acquisition: | 24,800 equity shares from Mr. Ritesh Gupta |
| Total Shares Acquired: | 49,800 equity shares |
| Current Shareholding: | 20.02% of paid-up equity share capital |
| Transaction Basis: | Cash consideration at market-determined prices |
Capital Structure Changes Impact
Shri Gang Industries has allotted 2,50,000 equity shares of face value ₹10.00 each pursuant to the conversion of 2,50,000 Compulsorily Convertible Preference Shares (CCPS) at a conversion price of ₹99.00 per equity share. The allotment was made through preferential allotment on private placement basis to promoter and promoter group entities.
| Share Capital Structure: | Updated Position |
|---|---|
| Paid-up Share Capital: | ₹19,98,00,000.00 |
| Total Equity Shares: | 1,99,80,000 shares |
| Face Value per Share: | ₹10.00 |
| CCPS Conversion Price: | ₹99.00 per share |
| Converted CCPS: | 2,50,000 shares |
Target Company Performance
Shri Gang Industries operates in the breweries and distilleries sector with established manufacturing capabilities including a bottling plant for Indian Made Foreign Liquor and Country Liquor at Sandila, District Hardoi, Uttar Pradesh, and a grain-based distillery commissioned in September 2022.
| Financial Performance: | Turnover (₹ Crore) | PAT (₹ Crore) |
|---|---|---|
| 2024-25: | 352.62 | 29.33 |
| 2023-24: | 288.64 | 14.79 |
| 2022-23: | 138.68 | 13.16 |
Regulatory Compliance
The transactions were executed in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Both acquisitions were reviewed and approved by the Audit Committee before Board consideration and were undertaken on an arm's length basis. The pricing was determined as the average of opening and closing market prices of Shri Gang's equity shares on BSE Limited on the working day immediately preceding each transaction execution date.
Historical Stock Returns for Suraj Industries
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.95% | -2.17% | -1.10% | -11.00% | +8.33% | +3,361.54% |
Will Suraj Industries pursue further acquisitions to reach a controlling stake in Shri Gang Industries given their strategic investment in the breweries sector?
How might the expansion of Shri Gang's manufacturing capacity impact the competitive landscape in Uttar Pradesh's liquor market?
What synergies could emerge between Suraj Industries' existing operations and Shri Gang's distillery and bottling capabilities?
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