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

BY ADMIN • FILED 23 Mar 2025, 5:35 PM

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.