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
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Entities Involved:
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Transferor: GB Global Limited (textile, garments, and infrastructure business).
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Transferee: Dev Land & Housing Pvt. Ltd. (real estate, construction, and redevelopment).
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Rationale for the Merger:
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Reduced administrative & compliance costs
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Centralized operational efficiency
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Improved cash management & business growth
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Stronger financial position & sustainable expansion
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Revival of GB Global Limited’s business
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Shareholder Consideration:
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Exit opportunity: ₹120 per equity share (face value ₹10).
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Redeemable preference shares (RPS) in exchange for equity shares.
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Post-Merger Changes:
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GB Global Limited will be dissolved.
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Reclassification of shareholders, moving non-DLH promoters to the public category.
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