Intimation for Acquisition.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Suraj Industries Ltd's board has approved buying 1,40,000 more equity shares (1,05,000 from Mr. Vikas Gupta and 35,000 from Mr. Ritesh Gupta) of Shri Gang Industries and Allied Products Ltd, a breweries and distilleries company. This will raise Suraj's stake in Shri Gang from 19.31% to 20.02%. The acquisition is a related-party transaction (both sellers are from the Promoter Group) but has been done on an arm's length basis and approved by the Audit Committee. The deal is for cash, with the price based on the average market price on BSE the day before execution, and is expected to close within 30 days. Shri Gang posted revenue of Rs. 352.62 crore and profit after tax of Rs. 29.33 crore in FY25, up from Rs. 288.64 crore and Rs. 14.79 crore in FY24, and has exclusive manufacturing and supply arrangements with United Spirits Ltd.
The increase in stake is incremental (less than 1%) and is a related-party purchase from the promoter group, so it signals consolidation of an existing investment rather than a transformative deal. Shareholders should note this is a small step-up in exposure to the liquor and ENA manufacturing business, with no open offer trigger mentioned.