Acquisition of 100% stake in Antworks Solutions India Private Limited and Insurant AI Limited
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GTT Data Solutions' board has approved acquiring 100% of Antworks Solutions India Pvt Ltd and 100% of UK-based Insurant AI Ltd, with consideration to be paid entirely through a share swap (preferential issue of GTT equity shares to the target companies' shareholders). To support this, the company is raising its authorised share capital from Rs 65 crore to Rs 70 crore and has set up a dedicated Merger & Acquisition Committee. Alongside, the company reported Q2 FY26 consolidated revenue of Rs 36.94 crore (up sharply from Rs 3.57 crore a year ago), but a net loss of Rs 1.09 crore and an H1 loss of Rs 5.20 crore. Total consolidated assets surged to Rs 149.13 crore from Rs 30.79 crore a year earlier, driven by recent acquisitions and equity raises.
The share-swap funding means existing shareholders will face equity dilution once the preferential shares are allotted, though no cash outflow is required for these acquisitions. Revenue is scaling rapidly post prior buyouts (Itarium, CRG, Alpharithm), but the company remains loss-making at the consolidated level, so near-term EPS dilution is a key risk for shareholders.