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 Pvt Ltd, part of the promoter group of Shri Gang Industries & Allied Products Ltd, acquired 7,00,000 equity shares on February 16, 2026, through the conversion of Compulsorily Convertible Preference Shares (CCPs). The conversion increased Express Infra's direct equity holding to 7,00,000 shares (3.15% of paid-up capital). The total promoter group holding, however, remained unchanged at 91,48,436 shares, representing 41.18% of the diluted share capital. The company's equity share capital rose from Rs. 19.03 crore to Rs. 19.73 crore as a result of the conversion.
This is a technical, pre-arranged conversion of preference shares already held within the promoter group and does not change the total promoter ownership. Shareholders should note that promoter group holds 41.18% on a diluted basis (below the 50% takeover threshold), and 7,50,000 convertible warrants are still outstanding which could increase promoter shareholding further if converted.