Intimation for Issuance of Sweat Equity shares subject to the approval of shareholders
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The board of Shri Gang Industries approved several items on August 29, 2025. These include the appointment of M/s Monika Kohli & Associates as Secretarial Auditor for 5 years (FY 2025-26 to 2029-30) and re-appointment of Mr. Arun Kumar Sharma as Whole Time Director for 2 years from November 13, 2025. The company also appointed Mr. Varun Gupta, its COO, as Senior Management Personnel. On the capital-raising side, it approved issuance of 7,50,000 Sweat Equity Shares at Rs. 99 each to Mr. Varun Gupta in recognition of his contributions, along with 7,50,000 Fully Convertible Warrants at Rs. 99 per warrant to him, potentially raising up to Rs. 7.42 crore. Additionally, 13,13,131 Compulsorily Convertible Preference Shares (CCPS) at Rs. 99 each will be issued to promoter-group entity Express Infra Financial Consultancy against conversion of an outstanding unsecured loan of about Rs. 13 crore. All these items are subject to shareholder approval at the 36th AGM on September 30, 2025.
Existing shareholders may see dilution if the warrants and CCPS are converted into equity, though all instruments are being allotted to promoter-group entities (Mr. Varun Gupta and Express Infra), so promoter holding may increase while public shareholding gets diluted. The sweat equity and debt-to-equity conversion signal the promoter group is strengthening its stake and converting loans into long-term capital.