Intimation for allotment of 700000 Equity shares pursuant to the conversion of 700000 CCPS.
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Shri Gang Industries has allotted 7,00,000 equity shares of Rs. 10 face value pursuant to the conversion of an equal number of 0.01% Compulsorily Convertible Preference Shares (CCPS) at a conversion price of Rs. 99 per share. The shares were allotted on a preferential basis to Express Infra Financial Consultancy Private Limited, a member of the Promoter & Promoter Group. Following this allotment, the company's paid-up equity share capital has increased to Rs. 19.73 crore, comprising 1,97,30,000 equity shares. The decision was taken by the Preferential Issue Committee of the Board on February 16, 2026.
This is a pre-planned conversion of promoter-held preference shares into equity, so there is no fresh cash inflow or dilution to public shareholders. The promoter group's equity stake increases marginally, and existing shareholders' percentage holding will see a small corresponding dilution.