Intimation for allotment of 350000 Equity Shares pursuant to conversion of equal number of Compulsorily Convertible Preference Shares.
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Shri Gang Industries has allotted 3,50,000 equity shares (face value Rs. 10) at a conversion price of Rs. 76 per share, pursuant to the conversion of an equal number of 0.01% Compulsorily Convertible Preference Shares (CCPS). The allottees belong to the Public category, with Sarvashaktiman Traders Private Limited receiving the entire lot. As a result, the company's paid-up equity share capital has risen to Rs. 18.28 crore, comprising 1,82,80,000 equity shares. The decision was approved by the Preferential Issue Committee on September 3, 2025.
This is a pre-scheduled conversion of preference shares already issued earlier, so it is not new fundraising. Shareholders will see a marginal increase in total share count and corresponding dilution, but no fresh capital is being raised from the market.