Key Event Details
Gloster Limited incorporated a joint venture company named 'GloJCO Gloster Limited' on November 11, 2026. The certificate of incorporation was received on November 12, 2026.
Joint Venture Structure and Investment
- Joint Venture Name: GloJCO Gloster Limited
- Authorized Share Capital: ₹10,00,000 divided into 1,00,000 shares of ₹10 each
- Gloster's Investment: Subscription of 49,000 shares at ₹10 each
- Total Cash Consideration: ₹4,90,000
- Resulting Ownership: 49% of the total share capital of the JV
Business Purpose and Rationale
The joint venture represents a strategic investment by Gloster Limited with the objective of expanding the company's business and market reach. The JV will engage in manufacturing high-quality jute bags with a focus on cost-efficient supply.
Regulatory and Approval Status
- No governmental or regulatory approvals required for the acquisition
- The transaction does not fall under related party transaction category
- No promoters/promoter group/group companies have any interest in the entity
Transaction Characteristics
- Consideration Type: Cash
- Industry: Jute Manufacturing
- Timeframe for completion: Not applicable (already incorporated)
Additional Information
- The JV was newly incorporated and therefore has no turnover history
- Disclosure made with reference to SEBI Master Circular No. HO/49/14/14(7)2025-CFDPOD2/I/3762/2026 dated January 30, 2026
- Filed by Ayan Datta, Company Secretary and Compliance Officer, on November 13, 2026