Suraj Industries to Acquire 75,000 Shares of Associate Company, Shri Gang Industries

Suraj Industries Ltd. has approved the acquisition of 75,000 equity shares of its Associate Company, Shri Gang Industries and Allied Products Limited, from Mr. Ritesh Gupta, Joint Managing Director and a member of the Promoter Group. Shri Gang is an Associate Company of Suraj Industries, in which the Company holds 20.08% of the equity share capital. The acquisition is estimated to be completed within 30 days and will further consolidate the shareholding in the Associate Company. Shri Gang has established a Bottling Plant for Indian Made Foreign Liquor (IMFL) and Country Liquor, and commissioned a grain-based distillery unit, enhancing its production capabilities and diversifying its revenue streams. The company has entered into an exclusive manufacturing arrangement with United Spirits Limited and has a long-term supply agreement with them for the supply of Extra Neutral Alcohol (ENA).