GYR Capital Advisors Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Post Offer Advertisement to the Equity Shareholders of GSB Finance Ltd ("Target Company").
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GSB Finance Ltd's offer manager, GYR Capital Advisors, has submitted the Post Offer Advertisement to BSE, formally closing an Open Offer for the company. Four acquirers — Vivek Kumar Singhal, Kshitij Agrawal, Nivesh Mandi Pvt Ltd, and Stock Mandi — sought up to 15.60 lakh shares (26% of voting capital) from public shareholders at ₹21.44 per share, for a maximum payout of about ₹3.34 crore. The offer followed a November 2024 Share Purchase Agreement where the acquirers bought a 55.25% controlling stake from selling promoters at ₹13 per share, totalling ₹4.31 crore. The open offer window ran from September 30 to October 14, 2025, with share settlement on October 30, 2025. GYR Capital Advisors stepped in as merchant banker after SEBI suspended the earlier banker, Swaraj Shares, for three months in August 2025.
The Open Offer has now concluded and the acquirer group holds a controlling stake, which may reduce free float and trading liquidity for retail shareholders going forward.