GSB Finance Limited has updated its list of authorized Key Managerial Personnel (KMPs) responsible for determining materiality of events and making disclosures to stock exchanges. The update was approved by the Board of Directors in their meeting held on March 2, 2026, in compliance with Regulation 30(5) of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.

Updated Authorization Framework

The company has established a clear framework for regulatory compliance by designating specific personnel for different aspects of disclosure requirements. The authorization covers two key areas: determining the materiality of events or information, and making actual disclosures to stock exchanges.

Authorized Personnel Details

The updated authorization list includes the following personnel:

Regulatory Compliance

This authorization update ensures GSB Finance Limited maintains compliance with SEBI's listing obligations and disclosure requirements. The regulation mandates that listed companies must authorize specific Key Managerial Personnel to determine the materiality of events and handle communications with stock exchanges.

Management Structure

The authorization reflects the company's management structure, with Mr. Vivek Kumar Singhal serving dual roles as Managing Director and Chief Financial Officer. The inclusion of Mr. Kshitij Agrawal, a Non-Executive Director from the promoter group, and Mr. Akshat Sharma as Company Secretary ensures comprehensive coverage of disclosure responsibilities across different management levels.

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.