Adoption of New Set of Articles of Association of the Company as per Companies Act, 2013 subject to approval of shareholders at the ensuing Annual General Meeting.
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GSL Securities Ltd's board, meeting on August 2, 2025, approved several items including unaudited Q1 FY26 results showing total income of Rs. 1.68 lakhs and a net loss of Rs. 6.98 lakhs (EPS of -0.21). The board approved a preferential issue of 10,25,100 equity shares at Rs. 41.50 each (face value Rs. 10, premium Rs. 31.50), aggregating to Rs. 4.25 crore, to three non-promoter strategic investors (Shrikant, Aarti, and Sonal Bhangdiya – each receiving 3,41,700 shares, i.e. 7.99% post-issue stake). The board also approved adopting a new set of Articles of Association aligned with the Companies Act, 2013, the re-appointment of Mr. Santkumar Bagrodia as Managing Director for one year (Oct 2025–Sep 2026), and voluntary delisting from the Calcutta Stock Exchange while remaining on BSE. The AGM is scheduled for August 30, 2025.
The preferential issue will raise about Rs. 4.25 crore from new non-promoter investors, leading to dilution of existing shareholders by roughly 24% (each allottee gets ~7.99% post-issue). The company continues to post losses and minimal revenue, while the voluntary delisting from CSE is administrative and won't affect BSE trading. Existing shareholders will vote on these proposals, including the AOA change and MD re-appointment, at the August 30 AGM.