GB Global Limited Approves Merger with Dev Land & Housing Pvt. Ltd.

GB Global Limited has announced the approval of an amended draft scheme of merger with Dev Land & Housing Private Limited (DLH) following a Board meeting held on March 21, 2025. The merger will be an absorption of GB Global Limited (subsidiary) into Dev Land & Housing Pvt. Ltd. (holding company), subject to regulatory approvals under the Companies Act, 2013.

Key Details of the Merger

• Entities Involved:

  • Transferor: GB Global Limited (textile, garments, and infrastructure business).

  • Transferee: Dev Land & Housing Pvt. Ltd. (real estate, construction, and redevelopment).

• Rationale for the Merger:

  • Reduced administrative & compliance costs

  • Centralized operational efficiency

  • Improved cash management & business growth

  • Stronger financial position & sustainable expansion

  • Revival of GB Global Limited’s business

• Shareholder Consideration:

  • Exit opportunity: ₹120 per equity share (face value ₹10).

  • Redeemable preference shares (RPS) in exchange for equity shares.

• Post-Merger Changes:

  • GB Global Limited will be dissolved.

  • Reclassification of shareholders, moving non-DLH promoters to the public category.