Please find attached outcome of Board meeting for preferential issue
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GSL Securities Ltd's board approved a preferential issue of 10,25,100 equity shares at Rs. 41.50 per share (face value Rs. 10 + premium Rs. 31.50), raising about Rs. 4.25 crore from three non-promoter strategic investors, each receiving 3,41,700 shares (7.99% post-issue stake). The board also approved voluntary delisting from the Calcutta Stock Exchange while continuing BSE listing, re-appointed Mr. Santkumar Bagrodia as Managing Director for one year, and adopted a new set of Articles of Association. Q1 FY26 results showed total income of Rs. 0.70 lakh and a net loss of Rs. 6.98 lakh, slightly improved from the Rs. 9.01 lakh loss in Q1 FY25. The AGM is scheduled for August 30, 2025.
The preferential issue will dilute existing shareholders by roughly 24% combined as the three new allottees collectively hold about 23.97% post-issue, but it brings in fresh capital of about Rs. 4.25 crore from strategic investors. The stock may see short-term pressure from dilution, though the continued losses and very small revenue base remain a concern.