Outcome of Board meeting held on January 17, 2026
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The board of GTT Data Solutions Ltd (formerly Cinerad Communications) approved the acquisition of 100% of Antworks Solutions India Pvt Ltd (ASIPL) by issuing up to 1,22,51,111 equity shares at ₹82.87 each, aggregating to roughly ₹101.52 crore, to be allotted to 124 shareholders of ASIPL in lieu of cash. It also approved the acquisition of 100% of UK-based Insurant AI Limited by issuing up to 19,06,490 shares at ₹82.87 each, totalling about ₹15.80 crore, to 3 allottees. Both are preferential allotments on a private placement basis for consideration other than cash. The board also raised the Section 186 investment/loan threshold to ₹400 crore, subject to shareholder approval. Two new directors were appointed: Mr. Hamad Jabor Jassim Al-Thani as Additional Non-Executive Non-Independent Director and Mr. Deepak Abasaheb Shinde as Non-Executive Independent Director for a five-year term. An Extra Ordinary General Meeting has been scheduled for February 12, 2026 via video conferencing to seek shareholder approval for these proposals.
Existing shareholders face significant equity dilution from the preferential share issuances tied to the acquisitions, though the deals are non-cash and aimed at expanding the company's portfolio. The acquisitions and Section 186 limit hike signal an aggressive growth and investment push, but final approval rests with shareholders at the February 12, 2026 EGM.