GYR Capital Advisors Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Letter of Offer to the Public Shareholders of GSB Finance Ltd ("Target Company").
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GYR Capital Advisors (Manager to the Offer) has submitted the Letter of Offer for an open offer to public shareholders of GSB Finance Ltd, triggered under SEBI Takeover Regulations following a Share Purchase Agreement dated November 29, 2024. A group of four acquirers — Mr. Vivek Kumar Singhal, Mr. Kshitij Agrawal, Nivesh Mandi Pvt Ltd, and Stock Mandi — will acquire up to 15,60,000 equity shares (26% of voting capital) from public shareholders at ₹21.44 per share (including 10% interest), totaling up to ₹3.34 crore. This is on top of the underlying deal where the same acquirers are buying 33,14,820 shares (55.25%) from existing promoters at ₹13 per share (₹4.31 crore), resulting in a change of control. RBI approval was received on September 12, 2025, and the tendering period runs from September 30 to October 14, 2025.
This triggers a change of control at GSB Finance Ltd, with public shareholders getting a chance to exit at ₹21.44/share. The offer price represents a meaningful premium over the negotiated promoter-level price of ₹13/share. Shareholders should evaluate the offer against market price and their investment horizon before the October 14, 2025 closing date.