GB Global Limited — Board Meeting, 04-12-2024: Outcome of Board Meeting

The board meeting resulted in the unanimous approval of the merger between GB Global Limited and Dev Land & Housing Private Limited, along with their respective shareholders. This strategic move aims to streamline operations, reduce regulatory compliance, and leverage synergies from the consolidation of both businesses. GB Global, primarily engaged in textiles and infrastructure, anticipates significant cost reductions and operational efficiencies from this merger. The transaction is subject to necessary regulatory approvals from the National Company Law Tribunal and stock exchanges.