Shri Gang Increases Capital Through Allotments; Suraj Industries' Stake Revised
Shri Gang Industries and Allied Products Limited has completed significant equity allotments, resulting in a substantial increase in its paid-up share capital. The changes were made following communications from the company detailing the issuance of shares through two different allotment processes involving both promoter group members and public entities.The shareholding structure of Shri Gang was updated based on these transactions, which saw Suraj Industries Ltd.'s stake revised to 18.83% of the increased paid-up equity capital.
Details regarding the allotments made to Promoter & Promoter Group category and the Public category are as follows:
| Allotment Type | Shares Allotted | Face Value | Source of Shares | Issue/Conversion Price | Aggregated Amount | Allottee Category |
|---|---|---|---|---|---|---|
| Promoter Group | 1,34,680 Equity Shares | ₹10/- each | Conversion of Fully Convertible Warrants | ₹99/- per warrant | ₹1,33,33,320/- | Promoter & Promoter Group |
| Public Category | 11,24,375 Equity Shares | ₹10/- each | Conversion of Compulsorily Convertible Preference Shares (CCPS) | ₹76/- per share | N/A | Public Category |
Following these allotments, the paid-up equity share capital of Shri Gang has increased substantially to ₹21,23,90,550. This capital is divided into a total of 2,12,39,055 Equity Shares, each having a face value of ₹10/-.
Suraj Industries Ltd.'s stake in the company stands at 18.83% of this newly increased paid-up equity share capital of Shri Gang.
Stock Price Movement
Suraj Industries Ltd settled at ₹58.41 in Friday's close, dipping 1.98% from the prior session's closing value. The shares showed volatility during the day, trading within a range defined by lows near ₹57.25 and highs of ₹62.00.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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