Globe International Carriers Limited — Board Meeting, 19-02-2025: Outcome of Board Meeting

The Board of Directors of Globe International Carriers Ltd. has approved the acquisition of 40,00,000 equity shares (representing 50% ownership) in Govind Kripa Infratech Limited (GKIT) for ₹27.22 crore, with the payment structured through a preferential allotment of 24,79,192 equity shares at ₹109.81 each. An Extraordinary General Meeting (EGM) is scheduled to seek shareholder approval for the preferential issue. The Board also increased the limit for investments, loans, and guarantees to ₹60 crore and modified the use of rights issue proceeds to fund working capital requirements, reflecting a strategic pivot in their financial operations.