GYR Capital Advisors Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Recommendations of the Independent Director (ID) on the Open Offer to the Shareholders of GSB Finance ....
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GYR Capital Advisors, acting as Manager to the Offer, has submitted to BSE the recommendation of the Committee of Independent Directors dated September 25, 2025, regarding the open offer for GSB Finance Ltd. The offer is being made by four acquirers — Mr. Vivek Kumar Singhal, Mr. Kshitij Agrawal, Nivesh Mandi Pvt Ltd, and Stock Mandi — for up to 15,60,000 shares (26% of voting capital) from public shareholders at ₹21.44 per share, aggregating up to ₹3.34 crore. The open offer was triggered by a Share Purchase Agreement dated November 29, 2024, under which the acquirers are buying a 55.25% stake from existing promoters at ₹13 per share. GYR Capital replaced the earlier merchant banker Swaraj Shares, whose SEBI registration was suspended for three months from August 19, 2025.
Public shareholders now have the Independent Directors' formal recommendation published in newspapers, which is a key reference before deciding whether to tender shares in the open offer. The ₹21.44 offer price sits at a significant premium over the ₹13 negotiated SPA price, giving public investors a clear exit opportunity.