G.S. Enterprises agreed to acquire 25% stake in Shapoorji Pallonji Forbes Shipping Limited from Forbes & Company Limited (BSE:502865) for INR 290 million on May 30, 2022. Board of Directors of Forbes & Company approved the deal. The definitive Agreement is expected to be executed in Quarter 1 of Financial Year 2022-23.

Transaction is expected to be completed in Quarter 2 of Financial Year 2022-23. As on June 22, 2022, Forbes & Company executed Share Purchase Agreement with G.S. Enterprise