Outcome of the meeting of the Board of Directors of Shri Gang Industries and Allied Products Limited in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) ....
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The Board of Shri Gang Industries, at its meeting on August 29, 2025, approved several key items. It appointed Monika Kohli & Associates as Secretarial Auditor for 5 years (FY 2025-26 to FY 2029-30) and re-appointed Mr. Arun Kumar Sharma as Whole Time Director for 2 years effective November 13, 2025. The Board approved a preferential issue of up to 7,50,000 Fully Convertible Warrants at Rs. 99 each (aggregating Rs. 7.42 crore) to promoter-group member Mr. Varun Gupta, who was also appointed as Senior Management Personnel. Additionally, 7,50,000 Sweat Equity Shares at Rs. 99 per share (FMV Rs. 97.86) will be issued to Mr. Varun Gupta for his contributions. The Board also approved issuing 13,13,131 Compulsorily Convertible Preference Shares (CCPS) at Rs. 99 each to promoter-group entity Express Infra Financial Consultancy Pvt Ltd, converting an outstanding unsecured loan of about Rs. 13 crore into equity. The 36th AGM is scheduled for September 30, 2025, via video conferencing.
Existing shareholders will see dilution through preferential warrants, sweat equity and CCPS conversion, all issued to the promoter group at Rs. 99 per share — a potentially positive signal of promoter confidence and capital infusion, though it will increase the total share count. The promoter loan-to-equity conversion improves the balance sheet structure.