Outcome of Board meeting held on March 19,2026.
Price
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Suraj Industries Ltd's Board, at its meeting on March 19, 2026, approved acquiring a total of 1,40,000 equity shares of Shri Gang Industries and Allied Products Ltd from two members of the promoter group: 1,05,000 shares from Mr. Vikas Gupta and 35,000 shares from Mr. Ritesh Gupta (Joint Managing Director). Both transactions qualify as related party transactions and were reviewed by the Audit Committee, conducted on an arm's length basis for cash consideration at prevailing market price. Post-acquisition, Suraj Industries' stake in Shri Gang will rise from 19.31% to 20.02% of paid-up equity capital. Shri Gang operates in breweries and distilleries, with an IMFL bottling plant and grain-based distillery in Uttar Pradesh, and has manufacturing and supply arrangements with United Spirits Limited; its FY25 turnover was Rs. 352.62 crore with PAT of Rs. 29.33 crore. The Board also approved an amendment to the Code of Fair Disclosure under SEBI Insider Trading Regulations. The acquisition is expected to complete within 30 days.
This is a modest consolidation of an existing associate stake rather than a fresh investment, so the direct financial impact is limited. The related-party nature of the deal (buying from promoters) means shareholders should watch the disclosed acquisition price and ensure fairness, but the transaction signals continued strategic interest in the liquor/distillery business where Shri Gang has shown strong revenue and profit growth.