Company: GCL
Filing Date: 2025-04-08
Form Type: 424B3
Source: 0001213900-25-029989
Chunk: 235

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-08
Form: 424B3
Chunk 235
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CL Global; and (ii) GCL Shareholders holding all issued and outstanding shares in GCL Global; and (b) sale
by GCL BVI shareholders holding a total of 99.8% of the total outstanding shares of GCL BVI (“GCL Shareholders”) of their
equity interests in GCL BVI to GCL Global, resulting in GCL BVI becoming a 99.8%-owned subsidiary of GCL Global (the “Reorganization”).

Before and after the Reorganizations, GCL Global,
together with its subsidiaries (as indicated above), is effectively controlled by the major shareholders, and therefore the Reorganization
is considered as a recapitalization of entities under common control in accordance with Accounting Standards Codification (“ASC”)
805-50-25. The consolidation of the Company and its subsidiaries have been accounted for at historical cost and prepared on the basis
as if the aforementioned transactions had become effective as of the beginning of the first period presented in the accompanying consolidated
financial statements in accordance with ASC 805-50-45-5.

<div align='center'>F-21

GCL GLOBAL LIMITED AND ITS SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

The accompanying consolidated financial statements
reflect the activities of GCL Global and each of the following subsidiaries as of March 31, 2024:

| Name                                               
 Grand Centrex Limited (“GCL BVI”)                  
 GCL Global Pte. Ltd (“GCL Global SG”)              |     | Background                                                                     
 ● A BVI Company                                                                
 ● Incorporated on November 16,                                                 
 2018                                                                           
 ● Holding Company                                                              
 ● A Singapore Company                                                          
 ● Incorporated on July 26,                                                     
 2021                                                                           
 ● Holding Company                                                              |     | Ownership                   
 99.8% owned by GCL Global   
 100% owned by GCL Global    |
|:---------------------------------------------------|:----|:-------------------------------------------------------------------------------|:----|:----------------------------|
| Titan Digital Media Pte. Ltd. (“Titan Digital”)(1) |     | ● A Singapore Company                                                          
 ● Incorporated on January 08,                                                  
 2018                                                                           
 ● An advertising Company that                                                  
 provides video production, and advertising in social media platform.           |     | 85% owned by GCL Global SG  |
| Epicsoft Asia Pte. Ltd (“Epic SG”)                 |     | ● A Singapore Company                                                          
 ●