Issuance of equity shares by way of preferential issue on private placement basis ("Preferential Issue")
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GTT Data Solutions Ltd's board approved issuing up to 1,22,51,111 equity shares at ₹82.87 each (₹72.87 premium) to acquire 100% of Antworks Solutions India Pvt Ltd (ASIPL), valued at about ₹101.52 crore through a stock swap with 124 ASIPL shareholders. The board also approved issuing up to 19,06,490 shares at the same ₹82.87 price to acquire 100% of UK-based Insurant AI Limited for about ₹15.80 crore, with allottees including Shaikh Hamad Bin Jabor Al Thani. Separately, the threshold for loans, guarantees, and investments under Section 186 was raised to ₹400 crore, subject to shareholder approval. Two new directors — Mr. Hamad Jabor Jassim Al-Thani (Non-Executive Non-Independent) and Mr. Deepak Abasaheb Shinde (Independent) — were appointed. An EGM is scheduled for February 12, 2026 to seek member approval for these proposals.
Existing shareholders will face dilution as about 1.42 crore new shares will be issued for stock-based acquisitions rather than cash, expanding the share count but adding two companies (one Indian tech firm, one UK AI/insurance firm) to the business. Shareholders need to vote on these proposals at the February 12 EGM before they take effect.