Outcome of the Board Meeting held on September 16,2025.
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Suraj Industries' Board, on September 16, 2025, approved acquiring 63,78,354 equity shares (about 9.69%) of its subsidiary Carya Chemicals & Fertilizers Pvt Ltd from two sellers at Rs. 12.60 per share, totalling Rs. 8.03 crore in cash. Post-deal, its stake in Carya rises from 85.75% to 95.44%. Both transactions are related party deals (sellers are linked to the promoter) and were already cleared by shareholders at the August 26, 2025 AGM. Separately, the Board approved a Rights Issue of partly paid-up equity shares to existing eligible shareholders, worth up to Rs. 120 crore, subject to regulatory approvals. Carya operates a liquor bottling plant (started April 2025) and is building a distillery for Extra Neutral Alcohol, but reported nil turnover in FY25.
The acquisition further consolidates Suraj Industries' control in its distillery subsidiary but is mostly an internal reshuffle among related parties, so limited new value accretion. The Rs. 120 crore Rights Issue will dilute existing shareholders' stakes and requires fresh capital infusion, with the size and timing yet to be decided by the Rights Issue Committee.