The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Express Infra Financial Consultancy Pvt Ltd
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Express Infra Financial Consultancy Pvt Ltd, part of the Promoter/Promoter Group of Shri Gang Industries & Allied Products Ltd, has acquired 13,13,131 Compulsorily Convertible Preference Shares (CCPS) on November 11, 2025. This represents 6.12% of the post-allotment fully diluted paid-up share capital of the company. The CCPS were allotted on a preferential basis against the conversion of an outstanding unsecured loan of approximately Rs. 13 crore (Rs. 12,99,99,969) at an issue price of Rs. 99 per CCPS. Each CCPS is convertible into one equity share of Rs. 10 at the holder's option, subject to SEBI ICDR lock-in provisions. Post-acquisition, the total diluted share capital of the company will be Rs. 21.46 crore divided into approximately 2.07 crore equity shares.
This is a promoter group entity increasing its stake through loan-to-equity conversion, which strengthens the promoter's ownership in the company and reduces the company's debt burden. The dilution of 6.12% is moderate and the preferential nature suggests the promoter is consolidating control.