Intimation Under Regulation 30 of SEBI Proposed to Investment in Plot and Warehouse (Related Party Transaction)
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Awaiting price reaction for this filing.
GB Logistics Commerce Ltd's Board has approved, in principle, a proposal to invest ₹7.21 crore in a plot of land along with a warehouse located at Garamsur, Katol, Dist. Nagpur, for business growth and expansion. The transaction involves a related party and will require compliance with the Companies Act 2013 and SEBI LODR regulations. A registered valuer will be appointed to value the property, and approvals from the Audit Committee and shareholders will be sought. Detailed terms and execution of the deal are to be considered and approved in a forthcoming Board meeting.
The investment signals the company's expansion plans in its logistics-warehousing business, but as it is a related party transaction, shareholders should watch for the valuation report and ensure the deal price is fair. Short-term stock impact is likely limited as the transaction is still subject to approvals.