GSL Securities Ltd has scheduled its 31st Annual General Meeting (AGM) for August 30, 2025, to discuss key corporate matters including the reappointment of Managing Director Santkumar Bagrodia, adoption of a new set of Articles of Association, and approval for a ₹4.25 crore preferential share issue to strategic non-promoter investors.
GSL Securities Limited, headquartered in Mumbai, Maharashtra, operates as a Non-Banking Financial Company (NBFC) engaged in investment and financial services. Incorporated in 1994, the company offers a range of financing solutions while managing an active investment portfolio.
The 31st AGM will be held on Saturday, August 30, 2025, at 10:00 AM at the company’s registered office in Tardeo, Mumbai. The agenda includes both ordinary and special business items critical to the company’s governance, capital structure, and operational framework.
Key Resolutions to be Considered
1. Approval of FY25 Financial Statements
Shareholders will review and adopt the audited financial statements for the year ended March 31, 2025, along with the Director’s and Auditor’s Reports.
2. Director Reappointment
Mr. Santkumar Bagrodia (DIN: 00246168), who retires by rotation, will be proposed for reappointment as a Director.
3. Reappointment of Managing Director
A special resolution seeks approval for the reappointment of Mr. Santkumar Bagrodia as Managing Director for one year, from October 1, 2025, to September 30, 2026, with an annual remuneration capped at ₹9,00,000. The terms allow the Board and Nomination & Remuneration Committee to adjust the remuneration within approved limits.
4. Adoption of New Articles of Association
The company plans to replace its existing Articles of Association, originally aligned with the Companies Act, 1956, with a revised version compliant with the Companies Act, 2013. This change aims to modernise governance provisions and bring regulatory alignment.
5. Preferential Issue of Equity Shares
The company will seek shareholder approval for the issuance of 10,25,100 equity shares of face value ₹10 each at ₹41.50 per share (including ₹31.50 premium), aggregating ₹4,25,41,650, to strategic non-promoter investors:
| Allottee | Shares Allotted | Post-Issue Holding % |
| Shrikant Mitesh Bhangdiya | 3,41,700 | 7.99% |
| Aarti Shrikant Bhangdiya | 3,41,700 | 7.99% |
| Sonal Kirtikumar Bhangdiya | 3,41,700 | 7.99% |
The proceeds will be primarily utilised for working capital (₹3.82 crore) and general corporate purposes (₹42.54 lakh). Shares will be allotted within 15 days of shareholder and regulatory approvals, and will rank pari passu with existing equity shares.
Shareholding Pattern Impact
| Category | Pre-Issue % | Post-Issue % |
| Promoters | 40.94% | 31.13% |
| Non-Promoters | 59.06% | 68.87% |
| Total | 100% | 100% |
The issue will not result in any change in management control.
Additional Shareholder Information
- Book Closure: August 24–30, 2025.
- E-Voting Window: August 27–29, 2025 via NSDL platform.
- Scrutinizer: M/s. Shivhari Jalan & Co., Practicing Company Secretaries.
- Compliance: The issue price is determined in line with SEBI (ICDR) Regulations, 2018, based on independent valuation and trading price norms.
For more information, visit BSE.
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