This is for your information and circulation among the stakeholders that the Board of Directors of the Company met on Thursday, 24th July, 2025 at 04:00 p.m. (IST) at the Registered Office ....
Awaiting price reaction for this filing.
GB Global Ltd's board, which met on 24th July 2025, re-approved the merger (by absorption) of the company with its holding company Dev Land & Housing Private Limited (DLH) under Sections 230-232 of the Companies Act, 2013. DLH operates in infrastructure, construction and real estate, while GB Global is into textiles, garments and infrastructure business. The transaction qualifies as a related party deal, carried out at arm's length. Key numbers: GB Global has paid-up capital of ~Rs. 50 crore, net worth of ~Rs. 270.5 crore and standalone turnover of ~Rs. 191.2 crore; DLH has paid-up capital of ~Rs. 19.3 crore, net worth of ~Rs. 338.7 crore and turnover of ~Rs. 11.25 crore. Shareholders of GB Global will get an exit option at Rs. 120 per share through an open offer, plus 1 redeemable preference share (Rs. 10 face value) for every equity share held. Post-merger, GB Global will stand dissolved as a listed entity.
Existing GB Global shareholders get a clear exit opportunity at Rs. 120/share (vs Rs. 10 face value) plus preference shares, but the listed entity will cease to exist after the merger, meaning delisting is effectively on the cards. The deal streamlines the group structure by absorbing the listed company into its larger unlisted holding company.