GSB Finance Limited has announced the appointment of Mr. Akshat Sharma as Company Secretary and Compliance Officer, effective March 02, 2026. The appointment was approved by the Board of Directors in their meeting held on March 02, 2026, following a recommendation from the Nomination & Remuneration Committee.

Key Appointment Details

The company has formally notified BSE Limited about this strategic appointment in compliance with Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulation 2015. The notification was signed by Managing Director Vivek Kumar Singhal and submitted to the stock exchange.

Professional Background

Mr. Akshat Sharma brings significant expertise to his new role at GSB Finance Limited. He is an associate member of the Institute of Company Secretaries of India, holding membership number A-67006. His educational qualifications include both commerce and law degrees, providing a strong foundation for corporate compliance and secretarial functions.

Experience and Qualifications

• Professional Membership: Associate member of ICSI
• Educational Background: Commerce graduate and law graduate
• Experience: 4+ years of post-membership experience
• Specialization: Corporate secretarial and compliance functions

Regulatory Compliance

The appointment notification includes comprehensive disclosures as required under SEBI regulations. GSB Finance Limited has provided detailed information pursuant to SEBI circular no. CIR/CFD/CMD/4/2015 dated September 09, 2015, and SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023.

Company Information

GSB Finance Limited operates under CIN L99999MH2001PLC134193 and trades on BSE with scrip code 511543. The company maintains its commitment to transparent governance practices through timely regulatory disclosures and proper board oversight of key appointments.

GSB Finance Limited has completed a major ownership restructuring with the acquisition of 33,14,820 equity shares representing 55.25% of the company's total voting share capital. The transaction, executed on March 2, 2026, marks a significant change in the company's promoter structure and control dynamics.

Share Purchase Agreement Details

The acquisition was facilitated through a Share Purchase Agreement between the selling promoter shareholders and a consortium of acquirers. The transaction involved the complete transfer of control from the existing promoter group to the new acquiring entities.

Parties Involved in the Transaction

The selling promoter shareholders included Mr. Ramakant Sagarmal Biyani, Ms. Neelam Ramakant Biyani, and M/s. GSB Securities Private Limited. The acquiring group comprises four entities that have collectively gained control of the company.

New Promoter Group:

• Mr. Vivek Kumar Singhal (Acquirer 1)
• Mr. Kshitij Agarwal (Acquirer 2)
• M/s. Nivesh Mandi Private Limited (Acquirer 3)
• M/s. Stock Mandi (Acquirer 4)

Promoter Reclassification Under SEBI Regulations

Following the completion of the acquisition, the acquirers have obtained sole control of GSB Finance Limited and have been reclassified as the company's promoters in accordance with SEBI Listing Regulations. The transaction has resulted in the reclassification of the erstwhile promoters from promoter group to public category under Regulation 31A(10).

Regulatory Compliance and Requirements

The company has confirmed compliance with all requirements for undertaking the reclassification under Regulation 31A(10) of the SEBI Listing Regulations. The erstwhile promoters have provided formal confirmations regarding their reclassification status, including commitments related to voting rights, control mechanisms, and board representation.

The reclassified promoters have confirmed they do not hold more than 10% of total voting rights, do not exercise control over company affairs, have no special rights through formal or informal arrangements, and are not represented on the board of directors. They have also committed to comply with specific conditions for a period of not less than three years from the date of reclassification.

Leadership Structure

Mr. Vivek Kumar Singhal, one of the key acquirers, has been designated as the Managing Director of GSB Finance Limited with DIN 01962224. The company's registered office is located at 201, 2nd Floor, Eco Space I.T. Park Building, Village Mogra, Old Nagardas Road, Andheri(E) Mumbai, while the corporate office operates from Raipur, Chhattisgarh.