BSECompany Update22 Oct 2026 · 22 Oct 2026, 06:59 pm
Incorporation of a Wholly Owned Subsidiary in Hungary
GTT Data Solutions Ltd · 530457
✦ AI SummaryExpansion
GTT Data Solutions Ltd has incorporated a wholly owned subsidiary in Hungary, AntWorks Europe Solutions Kft., with effect from October 21, 2026. The subsidiary is engaged in business and other management consulting, asset management, computer programming, information technology consultancy, and data analytics services.
Analysis Scores
Earnings Impact5/10
Growth Catalyst6/10
Governance Concern1/10
Regulatory Risk2/10
Balance Sheet Risk1/10
Liquidity Impact8/10
Market Sentiment5/10
✦ Ask a Question
Ask anything about this announcement — AI will answer based on the filing content.
Full Announcement
GTT Data Solutions Ltd - 530457 - Incorporation Of A Wholly Owned Subsidiary In Hungary
Attachments (1)
📄pdf
Download →
b98a797b-e787-4f84-809b-3d50144ac37b.pdf
View document text
Date: October 22, 2026.
The Listing Department,
BSE Limited
Phiroze Jeejeebhoy Towers,
Dalal Street, Mumbai - 400001.
Sub: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015 (‘Listing Regulations’) – Incorporation of a Wholly Owned Subsidiary in Hungary.
Dear Sir/Madam,
In continuation of our letter dated August 13, 2026 on the outcome of the Board Meeting, wherein the Board of
Directors of the Company approved the proposal for potential incorporation of a wholly owned subsidiary (“WOS”)
of the Company in Hungary, we wish to inform you that the Company has incorporated a WOS in Hungary, namely
AntWorks Europe Solutions Korlátolt Felelősségű Társaság (Abbreviated name: AntWorks Europe Solutions
Kft.) (“AESK”).
AESK has been registered by the Company Registry Court of the Metropolitan Court of Budapest (Fővárosi
Törvényszék Cégbírósága) vide its registration order dated October 21, 2026, bearing Company Registration No. 01-
09-471458. Accordingly, AESK has become a wholly owned subsidiary of the Company with effect from October
21, 2026.
The details as required under Regulation 30 of the Listing Regulations read with Para A of Part A of Schedule III
thereto and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026,
are enclosed herewith as Annexure A.
This is for your information and records.
Thanking You.
Yours faithfully,
For GTT Data Solutions Limited
(Formerly known as Cinerad Communications Limited)
Ebrahim Nimuchwala
Company Secretary & Compliance Officer
Membership No.: A60947
Page | 1
ANNEXURE A
Details required under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI
Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026
Incorporation of Wholly Owned Subsidiary – AntWorks Europe Solutions Kft., Hungary
Sr. Particulars Details
1. Name(s) of the entity, date & country of Name of the entity: AntWorks Europe Solutions Korlátolt
incorporation, etc.; Felelősségű Társaság (Abbreviated name: AntWorks
Europe Solutions Kft.) (“AESK”), a limited liability
company.
Date of Incorporation: October 21, 2026 (date of
registration by the Company Registry Court of the
Metropolitan Court of Budapest).
Country of Incorporation: Hungary.
Company Reg. No.: 01-09-471458; EUID: HUOCCSZ.01-
09-471458; Tax No.: 33146788-2-41; Community (EU
VAT) Tax No.: HU33146788.
Regd. Office: 1037 Budapest, Montevideo utca 8, Hungary.
2. Name of holding company of the AntWorks Europe Solutions Korlátolt Felelősségű
incorporated company and relation with the Társaság is incorporated as a Wholly Owned Subsidiary
listed entity; (WOS) of the GTT Data Solutions Limited.
3. Industry to which the entity being Business and other management consulting, Asset
incorporated belongs; management, Computer programming, Information
technology consultancy and operation of computer
equipment and systems and Data Analytics, AI and other
information technology service activities.
4. Brief background about the entity AESK is engaged in the business of management and other
incorporated in terms of products / line of consulting services, asset management, computer
business; programming, information technology consultancy,
operation of computer equipment and systems, Data
Analytics, AI and other information technology-related
service activities.
5. Brief details of any governmental or Registration with the Company Registry Court of the
regulatory approvals required for the Metropolitan Court of Budapest, obtained vide order dated
incorporation; October 21, 2026.
The investment will be made in accordance with the
Foreign Exchange Management Act, 1999 and the rules and
regulations thereunder, subject to applicable reporting
requirements.
6. Nature of consideration - whether cash Cash. 100% subscription to the initial registered capital of
consideration or share swap and details of AESK.
the same;
7. Cost of subscription / price at which the HUF 3,000,000 (Hungarian Forint Three Million) being the
shares are subscribed; entire initial registered capital of AESK, subscribed at face
value.
Page | 2
Sr. Particulars Details
8. Percentage of shareholding / control by the 100%. The Company is the sole member of AESK and
listed entity and / or number of shares holds the entire registered capital of AESK.
allotted.
Page | 3