Pursuant to Regulation 30 read with Schedule III of SEBI (Listing Obligations & Disclosure Requirements) 2015 ('SEBI Listing Regulation'), we wish to inform you that the Board of Directors ....
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The Board of Directors of Golden Legand Leasing & Finance Limited approved the incorporation of a wholly owned subsidiary named 'Gullakkart Private Limited' on March 13, 2026. The new subsidiary will operate in the Digital Payments and Prepaid Payment Instruments (PPI) services space. The company will invest Rs. 5 crore as initial subscription, comprising 50 lakh equity shares of Rs. 10 each, giving it 100% shareholding in the new entity. This marks a diversification move by the NBFC into the fintech/digital payments sector. The subsidiary will be incorporated in India under the Companies Act, 2013, with no governmental or regulatory approvals required for incorporation.
This is a strategic diversification into the fintech/payments segment, funded entirely from internal resources. While the Rs. 5 crore investment is modest relative to most listed companies, it signals management's intent to build a new revenue vertical beyond traditional leasing and finance, which could be a positive long-term catalyst but is unlikely to move the stock materially in the short term.