New Launch31 Dec 2025, 07:11 pm
Gloster Ltd Proposes to Invest in Special Purpose Vehicle for Jute Gunny Bags Manufacturing
AI Summary
Gloster Ltd, at its meeting held on 31st December 2025, proposed to invest in/subscribe to 49% equity capital of a proposed Special Purpose Vehicle (SPV) to be incorporated for cost-efficient manufacturing & supply of high-quality jute gunny bags. The SPV will be an associate company of Gloster Limited post-acquisition and will become a related party. The acquisition will not fall under related party transactions. The cost of acquisition is approximately Rs. 5 crore in one or more tranches, with the first tranche tentatively to be completed by 31.03.2026.
Key Highlights
- Gloster Ltd to invest in a proposed Special Purpose Vehicle (SPV) for jute gunny bags manufacturing
- SPV to be incorporated with the objective of cost-efficient manufacturing & supply of high-quality jute gunny bags
- The acquisition will not fall under related party transactions
- Gloster Ltd to acquire 49% equity stake in the SPV
- First tranche of acquisition to be completed by 31.03.2026 with approximately Rs. 5 crore as the cost of acquisition