Suraj Industries Ltd. Acquires Majority Stake in Carya Chemicals and Fertilizers Private Limited

Suraj Industries Ltd. has announced the acquisition of a majority stake in Carya Chemicals and Fertilizers Private Limited from Mr. Suraj Prakash Gupta and M/s Sarth Agbev and Energy Private Limited. The acquisition includes 22,73,234 equity shares from Mr. Gupta at a price of Rs. 12.60 per share and 41,05,120 equity shares from M/s Sarth Agbev and Energy Private Limited at the same price. The total cost of acquisition amounts to Rs. 8,03,67,261. This acquisition will enable Suraj Industries Ltd. to further consolidate its shareholding in Carya, which currently stands at 85.75%. Carya has set up a Bottling Plant for the manufacture of Indian Made Foreign Liquor and Country Liquor, and is in the process of setting up a Distillery for the manufacture of Extra Neutral Alcohol.