Gokaldas Exports held its National Company Law Tribunal (NCLT) convened equity shareholders' meeting on July 31, 2026, to approve the amalgamation of BRFL Textiles Private Limited with the company. The meeting, conducted via Video Conference/Other Audio-Visual Means (VC/OAVM), was mandated by an NCLT Mumbai Bench order dated May 11, 2026, marking a critical step in the corporate restructuring process for the apparel exporter.

The proceedings were disclosed to BSE Limited and the National Stock Exchange of India Limited pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Part A of Schedule III. Gourish Hegde, Company Secretary and Compliance Officer, confirmed that the business outlined in the notice dated June 25, 2026, was successfully transacted during the session.

Meeting Details and Attendance

The meeting commenced at 11:00 AM IST with Mr. Prakash Chandra, Chairman appointed by the NCLT, presiding over the proceedings. A total of 110 members attended the meeting through VC. The quorum was established, allowing the meeting to proceed with the agenda items.

Key attendees included:

Mr. Chandra confirmed that notices and accompanying documents were dispatched via Registered Post, Speed Post, email, or courier to equity shareholders and beneficial owners as on May 31, 2026. Copies were also hosted on the company website, KFin Technologies' e-voting portal, and the stock exchange websites.

Business Transacted: Scheme of Amalgamation

The sole item of business was the Scheme of Amalgamation of BRFL Textiles Private Limited with Gokaldas Exports Limited and their respective shareholders. Members who had registered as speakers raised queries, which were addressed by Managing Director Sivaramakrishnan Ganapathi and Chief Financial Officer Sathyamurthy A.

Following the discussion, Mr. Chandra authorized Harsh Ruparelia, the scrutinizer appointed by the NCLT, to conduct the voting procedure. Shareholders were granted a 15-minute window for e-voting. The resolution was deemed passed subject to the receipt of requisite votes. The meeting concluded at 11:41 AM IST after the voting process was completed.

SBI Life Insurance Company Limited has increased its shareholding in Gokaldas Exports Limited to 5.08% following an open market acquisition. The disclosure, submitted under Regulation 29(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, details the purchase of 3,00,000 equity shares. This transaction represents a significant stake increase in the target company, moving the acquirer's position closer to the substantial acquisition threshold.

The acquisition was executed on June 29, 2026, via the open market mechanism. Prior to this transaction, SBI Life Insurance Company Limited held 34,20,000 shares, which accounted for 4.67% of the total share capital. The purchase of an additional 3,00,000 shares has raised the acquirer's total holding to 37,20,000 shares.

Details of the Acquisition

The filing provides a breakdown of the shareholding structure before and after the transaction. The total equity share capital of Gokaldas Exports Limited remained unchanged at 7,32,47,228 shares. However, the acquirer's percentage stake in the company rose as a result of the new purchase.

Regulatory Disclosures

SBI Life Insurance Company Limited clarified that it does not belong to the promoter or promoter group of Gokaldas Exports Limited. The shares of the target company are listed on the National Stock Exchange of India Ltd and BSE Limited. The total diluted share capital of the target company, assuming full conversion of outstanding convertible securities, stands at 7,74,95,878 shares.