GS Auto International has announced the deferral of its Rights Issue Committee meeting that was scheduled for April 07, 2026, citing the pending receipt of in-principle approval from BSE Limited for its proposed rights issue of equity shares.

Rights Issue Committee Meeting Postponement

The Rights Issue Committee meeting was originally planned to address several critical aspects of the company's proposed rights issue. The committee was expected to deliberate on and approve key parameters including the issue price, entitlement ratio, and other essential modalities related to the rights issue.

Regulatory Approval Requirements

The deferral stems from the company's need to secure in-principle approval from BSE Limited before proceeding with the rights issue parameters. This regulatory approval is a prerequisite for finalizing the terms and conditions of the proposed rights issue that was initially approved by the company's Board of Directors.

Board Approval Timeline

The proposed rights issue of equity shares received initial approval from G.S. Auto International's Board of Directors during their meeting held on March 30, 2026. Following this board approval, the company initiated the process of seeking regulatory clearance from BSE Limited.

Next Steps

The Rights Issue Committee has indicated that the consideration of the rights issue modalities will be taken up once the company receives the necessary in-principle approval from BSE Limited. The company has committed to keeping stakeholders informed about further developments regarding the rights issue process.

The communication was signed by Jasmine Kaur, Company Secretary & Compliance Officer, from the company's Ludhiana, Punjab location on April 08, 2026.

GS Auto International Limited announced significant corporate developments following its board meeting held on March 30, 2026, at Hotel Shivalikview in Chandigarh. The meeting, which commenced at 12:30 P.M. and concluded at 01:15 P.M., resulted in several key approvals that will shape the company's financial and operational structure for the upcoming period.

Rights Issue Committee Meeting Scheduled

Following the board's approval of the rights issue, the company has scheduled a Rights Issue Committee meeting for Tuesday, April 07, 2026. The committee will consider, discuss and decide various matters including the specific terms of the Rights Issue, determination of the rights issue price and related payment mechanism, rights entitlement ratio, the record date and timing of the Rights Issue, and other related matters.

The decisions will be subject to the receipt of in-principle approval from the stock exchanges where the securities of the company are listed or such other regulatory authorities as may be required.

Rights Issue Approval

The board approved raising funds through a rights issue of equity shares with a face value of ₹5 each, targeting approximately ₹30 crores. This rights issue will be offered to eligible equity shareholders as on the record date, which will be notified subsequently. The issuance will comply with applicable regulations including the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, SEBI Listing Regulations, and the Companies Act, 2013.

Internal Auditor Changes

The company appointed M/s. Gurdip Kumar & Associates as its new Internal Auditor for Financial Year 2025-26, effective March 30, 2026. This appointment follows the resignation of Mr. Vikas Singh Rawat from the Internal Auditor position, which became effective from the closure of business hours on March 21, 2026.

M/s. Gurdip Kumar & Associates is a well-established chartered accountancy firm based in Ludhiana. The firm offers comprehensive professional services including internal audit, taxation, regulatory compliance, and advisory services.

Secretarial Auditor Re-appointment

The board re-appointed M/s. Baldev Arora & Associates, Company Secretaries, as the Secretarial Auditor for Financial Year 2025-26. This re-appointment demonstrates the company's confidence in the firm's capabilities and continuity in secretarial audit processes.

Regulatory Compliance

All announcements were made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company provided detailed disclosures as required under the regulations, including comprehensive information about the rights issue parameters and auditor appointment details. The communication was signed by Jasmine Kaur, Company Secretary & Compliance Officer, ensuring proper authorization and regulatory adherence.