Description

BSE announces listing of 3,50,000 equity shares of Shri Gang Industries & Allied Products Limited issued on preferential basis pursuant to conversion of Compulsorily Convertible Preference Shares, effective October 20, 2025.

Summary

BSE has approved the listing of 3,50,000 equity shares of Shri Gang Industries & Allied Products Limited (Scrip Code: 523309) issued to non-promoters on a preferential basis. These shares were issued pursuant to conversion of Compulsorily Convertible Preference Shares (CCPS) and will commence trading on Monday, October 20, 2025. The shares are subject to a lock-in period until January 2, 2026.

Key Points

  • 3,50,000 equity shares of Rs. 10/- each issued at a premium of Rs. 66/-
  • Issue price: Rs. 76/- per share
  • Allotted to non-promoters on preferential basis
  • Issued pursuant to conversion of Compulsorily Convertible Preference Shares
  • Shares rank pari-passu with existing equity shares
  • ISIN: INE241V01018
  • Distinctive Numbers: 17930001 to 18280000
  • Date of allotment: September 3, 2025

Regulatory Changes

No regulatory changes introduced. This is a standard listing notification following SEBI preferential allotment norms.

Compliance Requirements

  • Trading members must note the new securities in their systems
  • Lock-in restrictions must be enforced until January 2, 2026
  • All 3,50,000 shares (Dist. Nos. 17930001 to 18280000) are subject to lock-in

Important Dates

  • Date of Allotment: September 3, 2025
  • Trading Commencement: October 20, 2025 (Monday)
  • Lock-in Expiry: January 2, 2026
  • Circular Date: October 17, 2025

Impact Assessment

Market Impact: Minimal. The preferential allotment represents a relatively small number of shares issued at Rs. 76/- per share, totaling approximately Rs. 2.66 crores. The lock-in period until January 2026 prevents immediate selling pressure.

Liquidity Impact: Negligible immediate impact on trading liquidity as shares are locked-in for over two months from listing date.

Corporate Action: This represents dilution through conversion of preference shares, but issued to non-promoters, suggesting capital raising or restructuring activity. Investors should monitor the company’s utilization of these funds and overall capital structure changes.

Impact Justification

Routine listing notification for a small preferential allotment (3.5 lakh shares) to non-promoters. Limited market impact due to small issue size and lock-in period until January 2026.