This disclosure is being made pursuant to Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 in respect of the ....
Awaiting price reaction for this filing.
The NCLT Mumbai Bench has allowed the Scheme of Merger by Absorption between GB Global Limited (Transferor) and Dev Land & Housing Private Limited (Transferee/DLH) on October 10, 2025. Since GB Global is a subsidiary of DLH, no new DLH shares will be issued to the promoter; instead, DLH's holding in GB Global will stand cancelled. Eligible minority shareholders will get an exit at INR 120 per share (against a fair value of INR 78.94) plus 1 Redeemable Preference Share of INR 10 face value (0.01% dividend, 10-year tenure, redeemable at face value) for every equity share held. GB Global's shares are not currently being traded on BSE/NSE, and they will be deemed delisted under SEBI Delisting Regulations once the scheme becomes effective. An equity shareholders' meeting must be convened within 70 days to approve the scheme, with the Appointed Date being April 1, 2024.
Minority shareholders of GB Global get an exit at INR 120 per share, which is meaningfully above the INR 78.94 fair value, plus an RPS instrument. The scheme will effectively result in GB Global's delisting from the stock exchanges, ending its existence as a listed entity.