Intimation for proposed Acquisition.
M&A
◆ Monitor Closely
MEDIUM RISK
📅 Filed on BSE: 18 Jun 2026, 06:16 PM IST · BSE ID: e8952bb4-3596-4c15-8ad6-af3ba3f473d0
View Original BSE Filing (PDF)
💡
In Simple Terms
Suraj Industries' board approved converting a ₹25 Crore loan into ownership shares of its subsidiary Carya Chemicals.
🤖 AI Summary
- Suraj Industries Ltd. board approved converting ₹25,00,00,000/- unsecured loan to Carya Chemicals & Fertilizers Private Limited (CARYA) into equity.
- The proposed acquisition is contingent on a valuation report by an IBBI Registered Valuer and CARYA's equity share allotment.
- CARYA, a material subsidiary, had a turnover of ₹87.11 Crore for the period ended March 31, 2026.
- CARYA was incorporated on May 22, 2013, with authorized share capital of ₹92 Crore and paid-up capital of ₹65.80 Crore.
- The transaction is a related party transaction, approved by Audit Committee and Board in 2025 and members via EGM and AGM.
🔢 Key Numbers — exact figures from BSE filing, not rounded
Outstanding Unsecured Loan
₹25,00,00,000/-
CARYA Authorized Share Capital
₹92 Crore
CARYA Paid-up Capital
₹65.80 Crore
CARYA Turnover (Period ended March 31, 2026)
₹87.11 Crore
🏢 How This Affects the Company
This conversion increases Suraj Industries' direct equity stake in Carya Chemicals & Fertilizers, which commenced bottling operations in April 2025 and is setting up a distillery.
The conversion transforms an outstanding unsecured loan of ₹25,00,00,000/- into equity, altering the balance sheet from debt to equity investment.
The transaction is a related party transaction, with promoters/promoter group interested to the extent of their shareholding in CARYA, though proposed on an arm's length basis with a valuation report.
👥 What This Means For Shareholders
✅
Action Required
No immediate action is required from shareholders based on this intimation, as the acquisition is not yet completed.
👤
Who Is Affected
Shareholders of Suraj Industries will see a change in the company's asset structure, moving ₹25,00,00,000/- from a loan receivable to an equity investment in CARYA, a material subsidiary.
🔍
Management Signal
This decision signals management's intent to deepen its equity investment and consolidate its position in Carya Chemicals & Fertilizers, converting outstanding debt into ownership.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
Receipt of equity share allotment from Carya Chemicals & Fertilizers.
Disclosure detailing the final equity stake acquired in Carya Chemicals.
Future financial reports of Carya Chemicals for operational performance.
Progress of Carya Chemicals' Extra Neutral Alcohol distillery construction.
MEDIUM RISK
The acquisition is pending and a related party transaction, introducing some execution and related-party governance risks.
💡 Investor Takeaway
Suraj Industries' board approved converting a ₹25,00,00,000/- unsecured loan into equity shares of Carya Chemicals & Fertilizers Private Limited. CARYA reported a turnover of ₹87.11 Crore for the period ended March 31, 2026. This is a related party transaction and the acquisition is pending share allotment by CARYA.
⚖️ Strengths & Concerns
✅ Positives
- Suraj Industries is increasing its equity stake in CARYA, a subsidiary with a ₹87.11 Crore turnover as of March 31, 2026.
- CARYA has active bottling operations since April 2025 and is constructing an Extra Neutral Alcohol distillery, indicating business expansion.
⚠️ Concerns
- The acquisition has not yet been completed, pending CARYA's equity share allotment, indicating a dependency for finalization.
- The transaction is a related party transaction, requiring scrutiny despite being on an arm's length basis with a valuation report.
📅 Company Track Record
Suraj Industries has been actively increasing its stake in other beverage subsidiaries, such as Shri Gang, as noted in past filings in March 2026. These updates detailed Suraj raising its Shri Gang stake from 20.02% to 20.27% in tranches, for a subsidiary with Rs. 352.62 Crore FY25 revenue.
Based on publicly available historical data. For context only.
❓ Frequently Asked Questions
What is the value of the loan Suraj Industries is converting into equity?
Suraj Industries is converting an outstanding unsecured loan aggregating to ₹25,00,00,000/- (Rupees Twenty-Five Crores only) into equity shares of Carya Chemicals & Fertilizers Private Limited.
What was the turnover of Carya Chemicals & Fertilizers Private Limited?
The turnover of Carya Chemicals & Fertilizers Private Limited for the period ended on March 31, 2026, was ₹87.11 Crore.
Is this acquisition by Suraj Industries a related party transaction?
Yes, the proposed acquisition of equity shares of Carya Chemicals & Fertilizers Private Limited constitutes a Related Party Transaction as CARYA is a material subsidiary of Suraj Industries.
What is the status of the acquisition of Carya Chemicals by Suraj Industries?
The acquisition has not yet been completed. Suraj Industries has only agreed to acquire the shares, and the actual acquisition will be effected upon allotment of equity shares by CARYA.
Questions based on this BSE filing only. For information purposes.