GB Global Limited has informed the Exchange regarding Outcome of Board Meeting held on July 24, 2025.
Awaiting price reaction for this filing.
The board of GB Global Limited, held on July 24, 2025, re-approved the merger of the company (Transferor) with its holding company Dev Land & Housing Private Limited (DLH, Transferee) by way of absorption under Sections 230-232 of the Companies Act, 2013. The board also took note of terms of redeemable preference shares to be issued by DLH to GB Global shareholders. Under the scheme, eligible shareholders of GB Global will get an exit option of Rs. 120 per equity share (against face value of Rs. 10) through an open offer, or alternatively, 1 Redeemable Preference Share of Rs. 10 face value for every 1 equity share held. The transaction is a related party deal (DLH is the holding company), done at arm's length, and GB Global will stand dissolved post-merger, leading to its eventual delisting.
GB Global shareholders have a clear cash exit at Rs. 120 per share through the open offer, but the stock will eventually be delisted as the company merges into its unlisted holding company DLH. This effectively ends GB Global's existence as a listed entity, so shareholders who don't tender will become unlisted shareholders of DLH holding preference shares.