GB Global Limited has informed the Exchange regarding Board meeting held on July 24, 2025.
Awaiting price reaction for this filing.
GB Global Limited's Board, at its meeting on July 24, 2025, re-approved the merger (by absorption) of the company with its holding company, Dev Land & Housing Private Limited (DLH), under Sections 230-232 of the Companies Act, 2013. GB Global (textiles, garments, and infrastructure) will merge into DLH (infrastructure, construction, redevelopment, real estate), and GB Global will be dissolved post-merger. As of March 31, 2025, GB Global had a paid-up capital of Rs. 50.03 crore and turnover of Rs. 191.22 crore, while DLH had a paid-up capital of Rs. 19.31 crore and turnover of Rs. 11.26 crore. Shareholders of GB Global (other than DLH) will get an exit opportunity via an open offer of Rs. 120 per equity share (against face value of Rs. 10), or alternatively, 1 Redeemable Preference Share of Rs. 10 face value for every 1 equity share held. The transaction qualifies as a related party deal, done at arm's length.
This is a significant event for shareholders — GB Global will cease to exist as a listed entity post-merger. Eligible shareholders get a clear cash exit at Rs. 120/share (a premium over face value) or a swap into preference shares of the unlisted holding company. The merger is positioned as a revival measure for GB Global, which has faced procedural issues with its resolution plan, and aims to consolidate group entities for cost and operational efficiency.