Approval of Scheme of Amalgamation with wholly owned subsidiaries.
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GTT Data Solutions' board approved a Scheme of Amalgamation to merge three wholly-owned subsidiaries—Global Talent Track, Itarium Technologies India, and Alpharithm Technologies—into the parent company; since these are wholly-owned, no new shares will be issued. The board also approved Q1 FY26 results showing consolidated revenue of Rs 2,543.53 lakhs (up sharply from Rs 304.94 lakhs a year ago) but a net loss of Rs 411.13 lakhs on a consolidated basis (standalone loss of Rs 411.11 lakhs on revenue of just Rs 47.56 lakhs). A Rights Issue of up to Rs 50 Crores was approved, and an ESOP 2025 scheme was cleared. The company provided an update on its proposed acquisition of Singapore-based Alpharithm Technologies Pte, confirming a binding term sheet has been signed and that AntWorks (with subsidiaries in the UK, US, and India) will become a step-down subsidiary upon completion.
The amalgamation simplifies the group structure and may streamline costs, but the company remains loss-making at the standalone level even as consolidated revenue scales up, suggesting growth is being driven by recently acquired subsidiaries. The Rs 50 Crore Rights Issue will dilute existing shareholders, and the pending Alpharithm Singapore/AntWorks deal will further expand the group's global footprint if completed.