Announcement under Regulation 30 of SEBI (LODR), 2015 - Updates on Acquisition.
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Suraj Industries Ltd is updating the stock exchange on its acquisition of 75,000 equity shares of Shri Gang Industries and Allied Products Ltd, which it had first flagged on September 1, 2025. Separately, Shri Gang has allotted 3,50,000 new equity shares of Rs. 10 face value by converting an equal number of 0.01% Compulsorily Convertible Preference Shares at Rs. 76 each, issued to public-category investors on a preferential basis. As a result of this fresh issue, Shri Gang's paid-up equity capital has risen from Rs. 17.93 crore (1.79 crore shares) to Rs. 18.28 crore (1.83 crore shares). Because Shri Gang's share base grew while Suraj's absolute shareholding did not increase further, Suraj Industries' stake in Shri Gang has been revised down to 20.10% of the expanded capital.
For Suraj Industries shareholders, the deal confirms a strategic minority stake (~20%) in Shri Gang Industries, but the stake has been diluted because Shri Gang issued new shares to public-category investors via CCPS conversion at Rs. 76. The market may view the ~Rs. 76 per-share valuation from this preferential issue as a useful reference for what the Shri Gang stake is worth on paper.