Gretex Corporate Services has announced a significant addition to its leadership team, appointing Mr. Rajeev Kanotra as a Non-Executive (Non-Independent) Director on the board of its material subsidiary, Gretex Share Broking Limited. The appointment, effective August 12, 2025, brings a wealth of experience to the company's brokerage arm.

Seasoned Professional Joins the Board

Mr. Kanotra brings over three decades of experience in the Indian capital market to his new role. His expertise spans equity investment and hedging strategies, making him a valuable asset to Gretex Share Broking Limited. With a Bachelor of Commerce degree from the University of Delhi and a Post Graduate Diploma in Business Management from IMT Ghaziabad, Kanotra's educational background complements his extensive practical experience.

Diverse Expertise in Financial Services

In his current professional activities, Mr. Kanotra is engaged in various high-level financial operations, including:

• Mergers and Acquisitions (M&A)
• Fund raising for pre and post-IPO ventures
• Managing proprietary funds
• Delivering value to high net worth investors through research and portfolio construction

Track Record of Success

According to the company's disclosure, Kanotra has demonstrated a consistent record of outperformance in the market. His deep understanding of sector dynamics and macroeconomic trends has been pivotal in identifying profitable themes and stocks, resulting in substantial returns for investors.

Strategic Appointment for Gretex

The appointment of Mr. Kanotra aligns with Gretex Corporate Services' strategy to strengthen its subsidiary's board with experienced professionals. As a material subsidiary, Gretex Share Broking Limited plays a crucial role in the company's operations, and this appointment is expected to enhance its strategic direction and market positioning.

Compliance and Transparency

In line with regulatory requirements, Gretex Corporate Services has made this disclosure pursuant to SEBI Circular No. SEBI/HO/CFD/CFD-PoDl/P/ClR/2023/123 dated July 13, 2023, which mandates the reporting of changes in Senior Management Personnel.

The addition of Rajeev Kanotra to the board of Gretex Share Broking Limited marks a significant step for Gretex Corporate Services in bolstering its subsidiary's leadership. With his extensive experience and proven track record in the capital markets, Kanotra's appointment is poised to bring fresh insights and strategic value to the company's brokerage operations.

Gretex Corporate Services Limited has announced the indirect acquisition of Gretex Industries Limited, resulting in the latter becoming an associate company. The acquisition, which occurred through common management control, involves a 23.26% stake held by group entities.

Company Overview

Gretex Industries Limited, incorporated on July 16, 2009, is primarily engaged in the trading and distribution of musical instruments (MI), professional audio (PA), and audiovisual (AV) equipment. The company's operations span across Eastern and Northeastern India, where it holds exclusive or authorized distributorships for various products.

Financial Performance

The company has demonstrated consistent growth over the past three financial years:

This data showcases a steady increase in turnover, with the most recent fiscal year (2024-25) reporting ₹329,226.29 thousand, up from ₹311,262.92 thousand in the previous year.

Acquisition Details

The acquisition falls within the promoter group under common management control. As a result of this transaction, Gretex Industries Limited will be classified as an Associate Company of Gretex Corporate Services Limited.

Impact on Financial Statements

The indirect acquisition is expected to have a material impact on the consolidated financial position and performance of Gretex Corporate Services Limited. The financial results of Gretex Industries Limited will be consolidated with the acquiring company's statements in accordance with applicable accounting standards.

Regulatory Compliance

The company has made this announcement in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The details of the acquisition have been submitted to the BSE Limited as per the regulatory requirements.

This strategic move is likely to strengthen Gretex Corporate Services Limited's position in the musical instruments and audio equipment sector, leveraging Gretex Industries Limited's established presence in Eastern and Northeastern India.