GSB Finance Ltd: Erstwhile Promoters Reclassified as Public After Share Purchase Agreement

GSB Finance Ltd has announced the reclassification of its erstwhile promoters as public. This follows the execution of a Share Purchase Agreement between the selling promoter shareholders and the acquirers. The acquirers have acquired 33,14,820 equity shares from the selling promoter shareholders, giving them sole control of the company and making them the new promoters. The erstwhile promoters, who no longer hold any equity shares, have ceased to be promoters/members of the promoter group. This re-classification is in accordance with Regulation 31A(10) of the SEBI Listing Regulations.