Company: GCL
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001213900-25-086274
Chunk: 271

Company: GCL Global Holdings Ltd
Filing Date: 2025-09-09
Form: 424B3
Chunk 271
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 | $         |  1,421,139 |     | $         |   208,010 |

| * | From March 2025 to the date of the issuance of these consolidated financial                                                         
 statements, the Company obtained long term bank loans from HSBC Bank for an aggregate total of approximately $2.9 million to be due 
 from March 2027. These bank loans bear interest rates per annum 6.33%.                                                              |

The
interest expense pertained to above banking facilities for the years ended March 31, 2025,
2024, and 2023 were $518,770, $460,628 and $191,155, respectively. The weighted-average interest
rate pertaining to above mentioned bank loans were 6.2%, 7.1% and 6.0%, respectively, for
the years ended March 31, 2025, 2024, and 2023, respectively.

<div align='center'>F-40

GCL GLOBAL HOLDINGS LTD AND ITS SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

| Note 15 — Other payables and accrued liabilities |

|                             |     | 2025 | March 31, |     | 2024 | March 31, |
|:----------------------------|:----|:-----|----------:|:----|:-----|----------:|
| Accrued payroll and welfare |     | $    |   127,473 |     | $    |   165,523 |
| Accrued expenses (i)        |     |      |   408,370 |     |      | 1,381,338 |
| Other payables (ii)         |     |      | 1,666,948 |     |      | 1,554,725 |
| Investment payable (iii)    |     |      | 2,500,000 |     |      |         - |
| Total accrued expenses      
 and other liabilities       |     | $    | 4,702,791 |     | $    | 3,101,586 |

| (i) | The balance of accrued expenses represented accrued professional fee amount to $109,520 and other 
 miscellaneous fee.                                                                                |

| (ii)  | The balance of other payables mainly                                                                                            
 consists of the deposit received from a third party as co-publisher’s minimum guarantee in game development for game publishing 
 operations. Such balance