GSB Finance Limited to Hold Extra-Ordinary General Meeting for Capital Expansion and Name Change
GSB Finance Limited is scheduled to hold its Extra-Ordinary General Meeting (EGM) on August 10, 2026, at 12:30 p.m. IST. The meeting will be conducted via Video Conferencing and other audio visual means to deliberate on significant corporate developments involving the company's capital structure, business expansion, and branding identity.The primary agenda for the meeting includes an increase in authorized share capital, a preferential issuance of equity shares, and a formal change in the company name.
Increase in Authorized Share Capital
The company intends to increase its authorized share capital from Rs. 6,00,00,000 (Rupees Six Crores only) to Rs. 10,00,00,000 (Rupees Ten Crores only). The current capital structure of 60,00,000 Equity Shares of Rs. 10 each will be expanded to 1,00,00,000 Equity Shares of Rs. 10 each. This expansion is designed to support the company's long-term growth strategies and expansion initiatives.Preferential Issue of Equity Shares
GSB Finance Limited plans to issue up to 12,00,000 fully paid-up Equity Shares on a preferential basis for cash. The proposed issuance price is Rs. 36 per equity share, which includes a premium of Rs. 26 per share over the face value of Rs. 10.The company intends to raise an amount up to Rs. 4,32,00,000 through this preferential issue. The proceeds are designated for the following purposes:
- Onward Lending and Investing Business: Up to Rs. 3,92,00,000, to be utilized within 12 months from the date of receipt of funds.
- General Corporate Purposes: Up to Rs. 40,00,000.
The proposed allottees for this transaction are as follows:
| Sr. No. | Name of the Proposed Allottees | Category of Subscriber | Number of Equity Shares | Consideration (Amount in Rs.) |
|---|---|---|---|---|
| 1 | Vivek Kumar Singhal | Promoter | 6,50,000 | Rs. 2,34,00,000 |
| 2 | Nivesh Mandi Private Limited | Promoter | 3,50,000 | Rs. 1,26,00,000 |
| 3 | Sumit Dilip Jain | Non-Promoter | 66,665 | Rs. 23,99,940 |
| 4 | Shinay Agrawal | Non-Promoter | 66,665 | Rs. 23,99,940 |
| 5 | Deepesh Chopda | Non-Promoter | 66,670 | Rs. 24,00,120 |
| Total | 12,00,000 | Rs. 4,32,00,000 |
The company has established a floor price of Rs. 35.23 per equity share based on a valuation report from Lokesh Bothra. The allotment of these shares is expected to be completed within 15 days following the approval of the relevant resolutions.
Rebranding to Coffers Finvest Limited
The company proposes to change its name from GSB Finance Limited to Coffers Finvest Limited. Management stated that the current name, which was an acronym related to a former promoter, no longer reflects the present ownership structure or strategic direction of the business.The new name, Coffers Finvest Limited, is intended to align with the current business activities and corporate group identity. The name change will not affect the legal status, turnover, operations, or the rights of existing members and stakeholders.
Meeting and Voting Schedule
Members may participate in the remote e-voting process during the following window:| Event | Schedule |
|---|---|
| Cut-off Date for remote e-voting | Monday, 03 August 2026 |
| Commencement of remote e-voting | Friday, 07 August 2026 |
| End of remote e-voting | Sunday, 09 August 2026 |
Stock Price Movement
As of 14:18 on Thursday, GSB Finance Ltd shares are climbing to ₹45.16, up 5.00%. The stock is finding its footing today as it oscillates between an intraday low of ₹44.11 and a high of ₹45.16.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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