GP Petroleums Approves Rs 44 Crore Strategic Pipavav Terminal Stake Acquisition

Board approved ~44.27Cr buy of Incubit Pipavav Terminal shares at Rs10.80/share in tranches over a year via internal accruals; Verma quits as CFO but stays ED, Suvagia named CFO Oct 15. First terminal-infrastructure bet beyond core lubricants and recent plant buys; aids Pipavav storage access; includes promoter-group seller, so related-party lens though at arm's length. Stake size, final valuation, tranche timing and approvals open; funding via internal reserves tests liquidity; CFO handover orderly with successor named and outgoing staying as director.