Gloster Ltd Proposes to Invest in Jute Gunny Bags SPV for Cost-Efficient Manufacturing

Gloster Ltd, a jute objects manufacturer, announced at its board meeting on December 31, 2025, its intention to invest in a Special Purpose Vehicle (SPV) aimed at cost-efficient manufacturing and supply of high-quality jute gunny bags. The SPV, yet to be incorporated, will become an associate company of Gloster Ltd post-acquisition and will not fall under related party transactions. The acquisition requires no governmental or regulatory approvals and is expected to be completed by March 31, 2026, with a cash consideration of approximately Rs. 5 crore for a 49% equity stake. The SPV's objective is to enhance Gloster's product range and market reach in the jute industry.