Suraj Industries Ltd has completed the acquisition of equity shares in its material subsidiary, Carya Chemicals & Fertilizers Private Limited, by converting an outstanding unsecured loan of approximately ₹25 Cr. The company received confirmation of the allotment of 1,05,04,201 fully paid-up equity shares on June 22, 2026, at an issue price of ₹23.80 per share. This transaction increases Suraj Industries' shareholding in Carya Chemicals to 96.06% from 95.44%, strengthening its control over the breweries and distilleries sector.

Transaction Details and Valuation

The acquisition constitutes a Related Party Transaction and was undertaken on an arm's length basis. The issue price of ₹23.80 per share was determined based on a valuation report issued by Kzen Valtech Private Limited, an IBBI Registered Valuer. The aggregate consideration for the acquisition amounted to ₹24,99,99,983.80, involving no cash outflow as it was settled through the conversion of the existing loan. The allotment was approved by the Board following necessary consents from the Audit Committee and shareholders obtained in 2025.

Regulatory Approvals and Timeline

Suraj Industries secured required approvals from its Audit Committee and Board on March 29, 2025, and July 28, 2025, respectively. Shareholder approval was obtained via the Extraordinary General Meeting on April 28, 2025, and the 33rd Annual General Meeting on August 26, 2025. The Board approved the specific conversion proposal on June 18, 2026. The company is currently completing the corporate action process to credit the allotted shares into its Demat Account.

Carya Chemicals Operations and Financials

Carya Chemicals operates a bottling plant for Indian Made Foreign Liquor and Country Liquor, which commenced commercial operations in April 2025. The subsidiary is also constructing a distillery for the manufacture of Extra Neutral Alcohol. Carya Chemicals reported a turnover of ₹87.11 Cr for the financial year 2025-26, compared to nil in the preceding two years.

suraj industries has reported a revision in its shareholding within Shri Gang Industries and Allied Products Limited following a preferential allotment of equity shares. The stake in Shri Gang now stands at 18.83% of the increased paid-up equity share capital, as detailed in a regulatory filing submitted on June 06, 2026.

Shri Gang communicated the allotment details to Suraj Industries, indicating the issuance of shares to both promoter and public categories. The company allotted 1,34,680 equity shares of face value ₹10 each to an allottee in the Promoter & Promoter Group category. These shares were issued pursuant to the conversion of 1,34,680 Fully Convertible Warrants at an issue price of ₹99 per warrant, aggregating to ₹1,33,33,320.

Additionally, Shri Gang allotted 11,24,375 equity shares of face value ₹10 each to persons or entities in the Public category. This allotment arose from the conversion of 11,24,375 Compulsorily Convertible Preference Shares (CCPS) of face value ₹10 each at a conversion price of ₹76 per share, executed via preferential allotment on a private placement basis.

Consequent to these transactions, the paid-up equity share capital of Shri Gang has increased to ₹21,23,90,550. This capital is divided into 2,12,39,055 equity shares of face value ₹10 each. The filing was submitted by Snehlata Sharma, Company Secretary & Compliance Officer of Suraj Industries, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Details of Allotment