Gufic Biosciences Subscribes to Shares of Saraswat Bank to Meet Linkage Requirements

Gufic Biosciences Subscribes to Shares of Saraswat Bank to Meet Linkage Requirements​

Gufic Biosciences Limited confirmed its subscription to additional shares of Saraswat Co-operative Bank Limited, detailing the rationale behind the share transaction. The move is structured to comply with share linkage requirements applicable to borrower members of Saraswat Bank, and the company stated the transaction does not constitute an acquisition of ownership stake or a strategic investment in the bank.

Saraswat Bank, which operates as a Multi-State Co-operative Bank, is governed by the Multi-State Co-operative Societies Act, 2002, and associated regulations. As informed by the bank, its borrower members are required to maintain specific share capital linkages. These requirements are guided by the RBI Master Circular on Prudential Norms on Capital Adequacy for Primary (Urban) Co-operative Banks, dated April 1, 2025, which permits a share linkage of up to 2.5% of secured borrowings.

The company is an existing borrower member of Saraswat Bank, holding credit facilities that aggregate approximately ₹ 230 crore. Following an opportunity extended by Saraswat Bank to eligible borrower members to increase their share capital linkage within the permissible limits, Gufic Biosciences Limited will be subscribing to the additional shares.

The company clarified that the subscription of shares will be undertaken in the ordinary course of the lender-borrower relationship between Gufic Biosciences and Saraswat Bank. Furthermore, Gufic Biosciences stated that the action will not result in any change in the management, control, or governance rights of Saraswat Bank.

In addition to the share transaction, the company noted that Saraswat Bank adheres to the principle of "one member, one vote" under Section 31 of the Multi-State Co-operative Societies Act, 2002. Therefore, the subscription of additional shares does not confer any proportionate increase in voting rights, ownership interest, management rights, or control over Saraswat Bank.

The clarification provided ensures an accurate dissemination of information regarding the nature and characterization of this share subscription.

GUFICBIO Stock Price Movement​

Shares of Gufic Biosciences Limited are edging higher to ₹347.95 as of 3:04 PM today, gaining 0.36% in live trading. The equity has seen robust activity, with 143,375 shares exchanged during the session.