Intimation for allotment of Equity shares pursuant to conversion of: 1. 134680 convertible warrants 2. 1124375 CCPS Accordingly the ES capital shall stand to Rs. 21,23,90,550.
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Shri Gang Industries has issued new equity shares after converting 134,680 convertible warrants held by promoter Varun Gupta at ₹99 per share (total ₹1.33 crore) and 11,24,375 Compulsorily Convertible Preference Shares (CCPS) held by Sarvashaktiman Traders Pvt Ltd at a conversion price of ₹76 per share. Following these conversions, the company's paid-up equity share capital has risen to about ₹21.24 crore, divided into 2,12,39,055 shares of ₹10 face value each. The decision was taken by the Preferential Issue Committee on June 6, 2026. Both conversions were done via preferential allotment on a private placement basis.
This is a dilution event as the share count has increased by roughly 6% (12,59,055 new shares on the base of around 2 crore shares). Promoter holding stays intact via the warrant conversion, while a public-category entity (Sarvashaktiman Traders) gets a fresh equity stake via CCPS conversion — existing shareholders may see their stake reduced slightly.