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Shri Gang Industries has allotted 7,50,000 sweat equity shares to Mr. Varun Gupta, the Chief Operating Officer and a member of the Promoter Group. The shares were issued at Rs. 99 per share, marginally above the fair market value of Rs. 97.86 per share, and for non-cash consideration (likely in lieu of services). Following this allotment, Mr. Gupta holds 3.38% of the company's fully diluted paid-up equity capital, up from nil earlier. The decision was taken at a Nomination and Remuneration Committee meeting held on November 13, 2025.
Existing shareholders will see a modest 3.38% dilution in their holdings. Since the shares were issued to a promoter-group executive at a price close to fair market value and for non-cash consideration, the financial impact on retail investors is limited but it does increase the promoter's effective control of the company.