In accordance to the Share Purchase Agreement executed between the selling shareholders and acquirers of GSB Finance Limited ("Company"), the acquirers have purchased the remaining shares ....
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Acquirers — Vivek Kumar Singhal, Kshitij Agrawal, Nivesh Mandi Pvt Ltd and Stock Mandi — have completed buying the remaining 50,250 shares from GSB Securities Pvt Ltd, wrapping up the Share Purchase Agreement (SPA) dated November 29, 2024. Under the SPA, they purchased 33,14,820 shares (55.25% of voting capital) at ₹13 per share, totalling about ₹4.31 crore, from the existing promoter group (the Biyani family and GSB Securities). A mandatory open offer for up to 15,60,000 shares (26%) at ₹21.44 per share (including 10% interest) ran from September 30 to October 14, 2025, with settlement on October 30, 2025 and a max payout of about ₹3.34 crore. After both the SPA and the open offer, the acquirers collectively hold around 81.25% of the voting capital and will take over as the new promoters. The existing promoters will fully exit and apply for declassification from the promoter group.
This is a complete change of control at GSB Finance — the existing Biyani-family promoter group is selling out entirely and a new promoter group is taking over with over 80% holding, which sharply reduces public free float and trading liquidity. Shareholders who tendered in the open offer have already been paid at ₹21.44 per share; remaining minority investors should brace for low liquidity and watch for new board-level decisions under the incoming management.