Disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015 - Acquisition of Shares of the Company.
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On the reaction day the stock moved 4.5 pts less than Nifty Microcap 250 and 4.6 pts less than its Non Banking Financial Company (NBFC) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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GSB Finance has informed BSE that the acquirers — Mr. Vivek Kumar Singhal, Mr. Kshitij Agrawal, Nivesh Mandi Private Limited and Stock Mandi — have acquired 32,64,470 equity shares from the existing promoters at Rs. 13 per share, with the total Share Purchase Agreement covering 33,14,820 shares (55.25% of voting capital) for Rs. 4,30,92,660, though 50,350 shares are yet to be physically transferred. This acquisition triggered a mandatory Open Offer under SEBI (SAST) Regulations for an additional 15,60,000 shares (26% of capital), which was subsequently priced at Rs. 21.44 per share (including 10% interest) after the open offer window closed on October 14, 2025. Post the combined transaction, the new acquirer group will hold 81.25% of the voting share capital, the existing promoter group will be reduced to zero and will cease to be classified as promoters, and GYR Capital Advisors has been appointed as the new merchant banker replacing the erstwhile one.
This is a complete change-of-control event — the old Biyani family promoter group is exiting entirely, and a new promoter group led by Mr. Vivek Kumar Singhal is taking over the NBFC. Shareholders should expect potential board reconstitution, possible changes in business strategy, and RBI approval-related overhangs since the target is an RBI-registered NBFC; the stock may also see near-term price pressure or interest based on the outcome of the open offer tendering.