Shri Gang Industries Allots 250,000 Equity Shares After Conversion of CCPS

Shri Gang Industries & Allied Products Ltd has announced the allotment of 250,000 Equity Shares following the conversion of 250,000 0.01% Compulsorily Convertible Preference Shares (CCPS). The allotment was made to Express Infra Financial Consultancy Private Limited, a Promoter & Promoter Group entity, at a conversion price of Rs. 99/- each. This decision was made during a Preferential Issue Committee meeting of the Board of Directors. The Paid-up Equity Share Capital of the Company has increased to Rs. 19,98,00,000 (Rupees Nineteen Crore Ninety-Eight Lakh Only) as a result of this allotment.