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Gloster Limited announced that its Board of Directors, in a meeting held on December 31, 2025, has proposed to invest in and subscribe to a 49% equity stake in a Special Purpose Vehicle (SPV). This SPV is to be incorporated for the cost-efficient manufacturing and supply of high-quality jute gunny bags.

The meeting of the Board of Directors commenced at 4:15 p.m. and concluded at 5:30 p.m. The SPV is yet to be incorporated, and further updates will be provided once it is established. The acquisition will not initially fall under related party transactions, but the SPV will become an associate and consequently a related party to Gloster Limited post-acquisition.

The industry to which the entity being acquired belongs is jute. The objective of the SPV is to achieve cost-efficient manufacturing and supply of jute gunny bags. The acquisition is expected to be tentatively completed by March 31, 2026, with the first tranche of investment expected by this date. The total cash consideration is approximately ₹5 crore, payable in one or more tranches. Gloster Limited will acquire a 49% equity stake in the SPV.