Outcome of Board meeting held on March 26, 2026.
Price
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Suraj Industries Ltd's Board approved the acquisition of 49,800 equity shares (25,000 from Mr. Vikas Gupta and 24,800 from Mr. Ritesh Gupta) of Shri Gang Industries and Allied Products Ltd, both of whom belong to the Promoter Group. This will raise the company's stake in Shri Gang from 20.02% to 20.27%. Shri Gang operates in the breweries and distilleries sector, running an IMFL bottling plant and a grain-based distillery in Uttar Pradesh, with an exclusive manufacturing tie-up with United Spirits Ltd. Shri Gang reported a turnover of Rs. 352.62 crore and a profit after tax of Rs. 29.33 crore for FY25, showing strong growth from Rs. 288.64 crore (FY24) and Rs. 138.68 crore (FY23). The deal will be done in cash at market-linked prices and is expected to close within 30 days. Since the sellers are from the promoter group, this is a related party transaction, reviewed by the Audit Committee and priced at arm's length.
This is a minor consolidation of an existing associate stake and not a major strategic shift, so the direct impact on Suraj Industries' stock price is likely limited. Shareholders should note the related-party nature of the deal, though the arm's-length pricing and small change in shareholding (0.25%) suggest routine promoter group restructuring.