The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Suraj Industries Ltd & Others
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Suraj Industries Ltd, part of the promoter group of Shri Gang Industries & Allied Products Ltd, acquired 3,99,800 equity shares (2.02% of post-acquisition capital) through off-market inter-se transfers among promoter group members between September 2025 and March 2026. Shares were bought mainly from Mr. Ritesh Gupta (2,45,000 shares) and Mr. Vikas Gupta (1,30,000 shares), with 24,800 shares acquired in another transaction. Separately, Shri Gang's equity capital expanded from ₹17.93 crore to ₹19.98 crore following conversion of 2,50,000 0.01% Compulsorily Convertible Preference Shares. After the acquisition, the acquirer's direct holding stands at 39,99,800 shares (20.02%), and the combined promoter group holding (acquirer + PACs + warrants) is 40.22% of total capital and 41.17% on a fully diluted basis. No pledge or encumbrance is involved.
This is an internal reshuffling of shares within the promoter group, so the overall promoter ownership in Shri Gang remains around 40% with no change in control. No material impact on minority shareholders or stock price is expected from this disclosure.