Suraj Industries to acquire Carya Chemicals via loan conversion
Suraj Industries Ltd. announced its Board of Directors has approved the proposed acquisition of equity shares in Carya Chemicals & Fertilizers Private Limited (CARYA) through the conversion of an outstanding unsecured loan of ₹25 crore. The acquisition is contingent upon CARYA allotting equity shares based on a valuation report from an IBBI Registered Valuer. CARYA, a material subsidiary, reported a turnover of ₹87.11 crore for the period ended March 31, 2026. The transaction is considered a related party transaction, with promoters having an interest via their shareholding in CARYA, but it will be conducted on an arm's length basis. The company will provide further updates upon the allotment of shares.
Key Highlights
- Suraj Industries to acquire Carya Chemicals via ₹25 Cr loan conversion.
- Acquisition subject to Carya's share allotment based on valuation.
- Carya Chemicals reported ₹87.11 Cr turnover for FY26.
- Transaction is a related party deal on an arm's length basis.
- Further disclosure pending share allotment from Carya.
Price Impact
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