Shareholders Meeting - Annual General Meeting - 30.08.2025
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GSL Securities, a Mumbai-based NBFC, has called its 31st AGM for Saturday, August 30, 2025 at 10:00 a.m. at its registered office in Tardeo. The agenda includes adoption of FY25 audited financial statements and re-appointment of Mr. Santkumar Bagrodia (DIN 00246168), who retires by rotation, as a director. A special resolution seeks his re-appointment as Managing Director for one more year (Oct 1, 2025 to Sep 30, 2026) at a salary not exceeding Rs. 9,00,000 per annum. Another special resolution proposes adoption of a new set of Articles of Association aligned with the Companies Act, 2013. The most significant item is a preferential allotment of 10,25,100 equity shares at Rs. 41.50 each (face value Rs. 10, premium Rs. 31.50), aggregating to about Rs. 4.25 crore, to three non-promoter allottees from the Bhangdiya family (3,41,700 shares each). The proceeds are earmarked for working capital (Rs. 3.83 crore) and general corporate purposes (Rs. 42.5 lakh). FY25 financials show a loss after tax of Rs. 16.46 lakh and net worth of Rs. 581.62 lakh.
The preferential issue at Rs. 41.50/share will dilute existing shareholders and bring in roughly Rs. 4.25 crore from a group of three related non-promoter investors, which the company plans to use for working capital and general purposes. FY25 was a loss-making year, so the capital infusion is supportive of the balance sheet. The MD's reappointment keeps management continuity without any change in his Rs. 9 lakh salary.