Outcome of Board meeting
Price
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GTT Data Solutions' board approved the allotment of 35,82,068 equity shares at Rs. 130 each (including Rs. 120 premium) to 5 non-promoter allottees on a share swap basis. This is part of acquiring 67.30% of CRG Solutions Private Limited (26,21,722 shares issued) and 83.23% of Alpharithm Technologies Private Limited (9,60,346 shares issued). Post-allotment, the company's issued capital rises to Rs. 41.91 crore comprising 4.19 crore equity shares, while paid-up capital increases to Rs. 27.53 crore. Additionally, Mr. Ganesh Natarajan's designation changed from Non-Executive Chairman to Executive Chairman (Whole-time Director) for a 3-year term. Three senior management personnel were also appointed, including Dr. Uma Ganesh (President, Human Intelligence), Dr. Vijay Jog (Strategic Advisor), and Raghu BS (EVP, Human Intelligence). The Audit Committee was reconstituted with all three independent directors and Mr. Natarajan as members.
Existing shareholders face dilution of roughly 8.5% as new allottees receive shares in exchange for stakes in two tech companies. The acquisitions and new executive leadership suggest an aggressive expansion into data and IT services, which could be positive long-term but introduces integration risk.