The Reserve Bank of India (RBI) has granted prior approval for the change in management regarding Gretex Industries Limited 's proposed acquisition of Arpan Tie Up Pvt. Ltd. The approval, communicated via a letter dated June 25, 2026, marks a step forward in the company's plans to acquire the non-banking financial company (NBFC). While the management change has been sanctioned, the approval for the change in control remains pending and is awaited from the central bank.

Regulatory Approvals

The company informed the National Stock Exchange of India that the RBI's letter specifically addressed the change in management aspect of the transaction. This follows previous communications from Gretex Industries dated May 27, 2026, July 26, 2025, and August 19, 2025, regarding the proposed acquisition. The regulatory process requires separate clearances for management and control changes, with the latter still under review.

Transaction Status

The acquisition of Arpan Tie Up Pvt. Ltd. is contingent upon receiving all necessary regulatory clearances. The following table summarizes the current status of the approvals sought from the RBI:

Gretex Industries has submitted an application to the Reserve Bank of India (RBI) on May 26, 2026, seeking approval for the acquisition of Arpan Tie-Up Private Limited. The company intends to purchase 9,11,000 equity shares, representing 98% of the paid-up equity share capital of the non-banking financial company (NBFC). This strategic move aims to expand Gretex's capabilities in structured financing, capital deployment, and credit solutions while maintaining operational alignment with its existing trading and distribution activities.

The acquisition is not a related party transaction, as Arpan Tie-Up Private Limited is not a related party and the promoter group has no interest in the entity. The consideration for the acquisition will be paid in cash, amounting to ₹5.90 crore in aggregate, or ₹64.78 per share. The company expects the transaction to be completed within an indicative period of 3 to 6 months from the date of the application submission.

Arpan Tie-Up Private Limited, incorporated on August 28, 1995, in Kolkata, operates as an NBFC-BL under the RBI's Scale-Based Regulation (SBR) framework. It is classified as the smallest, non-systemically important NBFC, posing the least risk to the broader financial system. The entity is unlisted and registered with the Registrar of Companies (ROC) Kolkata I, holding a Corporate Identification Number (CIN) of U51109WB1995PTC073784.

The financial performance of the target entity shows a decline in total income over the last three years. According to the disclosed data, the total income stood at ₹63.30 lakh in the financial year 2024-25, down from ₹72.32 lakh in 2023-24 and ₹85.61 lakh in 2022-23. The authorized capital of Arpan Tie-Up Private Limited is ₹1.04 crore, with a paid-up capital of ₹9.30 million.

Acquisition Details

The intimation regarding this application was submitted to the National Stock Exchange of India under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company stated that the acquisition allows it to leverage regulatory infrastructure already in place while accelerating its entry into scalable lending and investment operations.