The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Express Infra Financial Consultancy Pvt Ltd & Others
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Express Infra Financial Consultancy Private Limited, part of the promoter group of Shri Gang Industries and Allied Products Ltd, acquired 2,50,000 equity shares on March 30, 2026 through conversion of Compulsorily Convertible Preference Shares (CCPS) into equity. Following this, Express Infra's holding increased from 3.55% to 4.75% of the share capital, and the combined promoter and PAC holding increased from 39.46% to 40.21% (41.18% on fully diluted basis). The target company's equity share capital rose from Rs. 19.73 crore to Rs. 19.98 crore post-allotment. This is a disclosure filed under SEBI's substantial acquisition regulations by the promoter group.
The promoter group's stake has moved above the 40% mark, approaching the 50% threshold that would trigger mandatory open offer obligations under SEBI SAST Regulations. Existing shareholders should monitor further stake increases.