Scheme of Amalgamation of Gloster Lifestyle Limited and Gloster Specialities Limited with Gloster Limited
GLOSTERLTD · price
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Gloster Limited has received the First Motion Order from NCLT Kolkata Bench for amalgamating its two wholly-owned subsidiaries—Gloster Lifestyle Limited and Gloster Specialities Limited—into the parent company, with effect from the appointed date of April 1, 2025. The NCLT has dispensed with shareholder meetings as 100% equity shareholders have consented via affidavits. Both transferor companies have NIL creditors. Since the subsidiaries are wholly-owned, no new shares will be issued and there will be no change in the shareholding pattern of the listed entity. Gloster Limited reported standalone turnover of Rs. 62,668.27 lakhs for FY2025, while the transferor companies had minimal turnover of Rs. 4 lakh each.
No immediate impact on Gloster's shareholding pattern or stock valuation expected, as this is an internal restructuring of wholly-owned subsidiaries. The amalgamation aims to improve capital efficiency and reduce administrative costs across the group.