GSB Finance Limited has successfully completed its open offer for the acquisition of up to 15,60,000 shares, representing 26% of the voting share capital. The offer, which ran from September 30, 2025 to October 14, 2025, was triggered following a significant share purchase agreement.

Key Details of the Open Offer

Background of the Acquisition

The open offer was initiated after the acquirers agreed to purchase 33,14,820 shares, representing 55.25% of the voting share capital, from the selling promoter shareholders at ₹13.00 per share. This share purchase agreement, dated November 29, 2024, triggered the mandatory open offer under SEBI regulations.

Change in Merchant Banker

A notable development in this process was the appointment of GYR Capital Advisors Private Limited as the new merchant banker. This change occurred after the Securities and Exchange Board of India (SEBI) suspended the registration of the previous merchant banker, Swaraj Shares and Securities Private Limited, for a period of three months starting August 19, 2025.

Acquirer Details

The open offer was made by multiple acquirers:

1. Mr. Vivek Kumar Singhal
2. Mr. Kshitij Agrawal
3. M/s Nivesh Mandi Private Limited
4. M/s Stock Mandi

Compliance and Regulations

The open offer complies with Regulations 3(1) and 4 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. As per regulatory requirements, a post-offer advertisement was published on November 3, 2025, in various newspapers including The Financial Express, Jansatta, and Mumbai Lakshadeep.

This development marks a significant change in the ownership structure of GSB Finance Limited and reflects the dynamic nature of corporate acquisitions in the Indian financial sector.

GSB Finance Limited , a financial services company, has reported a significant downturn in its financial performance for the second quarter of the fiscal year 2026, ending September 30, 2025. The company's results, approved by the Board of Directors on October 15, 2025, reveal a stark contrast to its performance in the same period last year.

Financial Highlights

*Figures in Rs lacs, except EPS

GSB Finance reported a net loss after tax of Rs 29.69 lacs for the quarter ended September 30, 2025, a significant decline from the net profit of Rs 51.80 lacs recorded in the corresponding quarter of the previous year. This represents a substantial year-on-year decrease of 157.30%.

The company's total income from operations also saw a sharp decline, falling to Rs 31.62 lacs from Rs 74.36 lacs in the same quarter last year, marking a 57.50% decrease.

The impact of this financial downturn is reflected in the company's earnings per share (EPS). The basic and diluted EPS for the quarter stood at negative Rs 0.49, compared to a positive Rs 0.86 in the same period last year.

Half-Yearly Performance

For the six months ended September 30, 2025, GSB Finance reported a total income of Rs 62.76 lacs. Despite the losses in the second quarter, the company managed to maintain a net profit after tax of Rs 69.09 lacs for the half-year period.

Capital Structure

The company's equity share capital remained unchanged at Rs 600 lacs, indicating no alterations in its capital structure during this period.

GSB Finance Limited has published these results in compliance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The unaudited financial results were published in the English daily 'Active Times' and the Marathi newspaper 'Mumbai Mitra' on October 16, 2025.

The full format of the quarterly financial results is available on the company's website ( www.gsbgroup.co.in ) and on the BSE Ltd. website ( www.bseindia.com ) for investors and stakeholders seeking more detailed information.