Suraj Industries completes Acquisition of Equity in Carya Chemicals via Loan Conversion
Suraj Industries Ltd has successfully completed the acquisition of a significant stake in Carya Chemicals & Fertilizers Private Limited (CARYA) through the conversion of an outstanding unsecured loan into equity shares. The move strengthens Suraj Industries’ control over its material subsidiary, CARYA.The transaction involved the conversion of an unsecured loan totaling ₹25,00,00,000/- into fully paid-up equity shares of CARYA. Suraj Industries informed that CARYA confirmed the allotment of 1,05,04,201 equity shares at an issue price of Rs. 23.80 per share, resulting in a total consideration of ₹24,99,99,983.80.
The acquisition price was determined based on a valuation report issued by Kzen Valtech Private Limited, an IBBI Registered Valuer. The transaction followed earlier intimations regarding the proposed deal and has been completed following approvals from the Audit Committee, Board of Directors, and shareholders' meetings held across 2025 and June 2026.
Strategic Impact and Shareholding Details
The completion of this acquisition resulted in a rise in Suraj Industries’ shareholding in CARYA. Prior to the transaction, the company held 95.44% of CARYA; following the conversion, the stake increased to 96.06%. The acquisition is expected to result in enhanced control over CARYA and will strengthen Suraj Industries' holding structure.The consideration for the entire acquisition, amounting to ₹24,99,99,983.80, was fulfilled through the conversion of the unsecured loan into equity shares rather than cash payment. The 1,05,04,201 equity shares acquired by Suraj Industries represent a total cost equivalent to ₹24,99,99,983.80.
CARYA Chemicals & Fertilizers Profile
CARYA is incorporated under the Companies Act, 2013 and operates in the Breweries & Distilleries industry. The company has significant operational activities focused on alcoholic beverages.Key details regarding CARYA Chemicals & Fertilizers are summarized below:
| Metric | Detail |
|---|---|
| Incorporation Date | May 22, 2013 |
| Authorized Share Capital | ₹92 Crore |
| Paid-up Capital | ₹65.80 Crore |
| Turnover (Year ended Mar 31, 2026) | ₹87.11 Crore |
| Operational Highlights | A Bottling Plant for Indian Made Foreign Liquor and Country Liquor commenced commercial operations in April 2025. The company is currently setting up a Distillery for Extra Neutral Alcohol. |
The completion of the equity shares allotment by CARYA was confirmed on June 22, 2026. Suraj Industries is now proceeding with the Corporate Action to credit these allotted shares into its Demat Account.
Stock Price Movement
As of 13:01, shares of Suraj Industries Ltd are ticking down slightly at ₹57.50, reflecting a -0.09% change. The stock has traded within an intraday range, moving between a low of ₹57.50 and a high of ₹57.75.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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