Suraj Industries Ltd. Acquires Stake in Shri Gang Industries
Suraj Industries Ltd. announced the acquisition of equity shares in Shri Gang Industries and Allied Products Limited on March 19, 2026. The company will acquire 105,000 shares from Mr. Vikas Gupta and 35,000 shares from Mr. Ritesh Gupta, both members of the promoter group.The acquisitions will increase Suraj Industries' holding in Shri Gang to 20.02% from the current 19.31%. The total consideration will be determined as the average of the opening and closing market price of Shri Gang's equity shares on the BSE Limited on the working day immediately preceding the transaction date. The acquisition is estimated to be completed within 30 days.
Shri Gang Industries and Allied Products Limited, incorporated on August 02, 1989, operates a bottling plant for Indian Made Foreign Liquor (IMFL) and Country Liquor, as well as a grain-based distillery unit. The company has strategic partnerships with United Spirits Limited, including an exclusive manufacturing arrangement and a long-term supply agreement for Extra Neutral Alcohol (ENA).
For the period ended March 31, 2025, Shri Gang reported a turnover of Rs. 352.62 crore and a profit after tax of Rs. 29.33 crore.
Financial Highlights for Shri Gang Industries and Allied Products Limited:
| Financial Year | Turnover (Rs. in Crore.) | Profit after Tax ( Rs. in Crore) |
|---|---|---|
| 2024-25 | 352.62 | 29.33 |
| 2023-24 | 288.64 | 14.79 |
| 2022-23 | 138.68 | 13.16 |
The transactions were reviewed and approved by the Audit Committee and represent a related party transaction undertaken at arm’s length. The Board of Directors meeting commenced at 4:00 P.M. (IST) and concluded at 5:00 P.M. (IST).
Source:
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.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Last edited by a moderator: