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, at its March 26, 2026 meeting, approved acquiring 25,000 equity shares of Shri Gang Industries and Allied Products Limited from Mr. Vikas Gupta and 24,800 shares from Mr. Ritesh Gupta (Joint Managing Director), both promoter group members. This will raise Suraj Industries' stake in Shri Gang from 20.02% to 20.27% on a cash basis at average market price. Shri Gang is a breweries and distilleries company with a bottling plant and grain-based distillery in Uttar Pradesh, holding an exclusive manufacturing and ENA supply arrangement with United Spirits Limited. Shri Gang reported FY25 turnover of Rs. 352.62 crore and PAT of Rs. 29.33 crore, up from Rs. 288.64 crore and Rs. 14.79 crore in FY24. The transactions are related party deals conducted at arm's length and approved by the Audit Committee, with completion expected within 30 days.
The acquisition is a small, incremental consolidation (less than 0.3% increase in stake) in an associate company with strong ties to United Spirits, unlikely to materially move the stock price on its own. Shareholders should note the related-party nature of the deal, though it has been cleared by the Audit Committee and conducted at arm's length.