Global Surfaces Limited Announces Inter-se Transfer of Equity Shares
Global Surfaces Limited announced a report detailing an inter-se transfer of equity shares among members of the Promoter Group. The transfer, which occurred on March 20, 2026, involved the dissolution of M/s Vatsankit Shah Trust and the transfer of its assets, including equity shares, to Vatsankit Shah.Under the transaction, 8,45,906 equity shares, representing 2.00% of the company’s share capital, were transferred from M/s Vatsankit Shah Trust to Vatsankit Shah. This transfer is exempt under Regulation 10(1)(a)(ii) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, as both the transferor and transferee belong to the Promoter Group. The aggregate shareholding of the Promoter and Promoter Group remains unchanged following the transfer.
According to a report filed with the stock exchanges, the Trust was created for the benefit of Mr. Vatsankit Shah during his minority, with Mr. Mayank Shah and Mrs. Sweta Shah acting as trustees. The transfer is a result of Mr. Vatsankit Shah attaining majority and in accordance with the terms of the trust arrangement.
Table: Details of Share Transfer
| Date of Transaction | Transferor | Transferee/Acquirer | No. of Shares Transferred | % of Holding |
|---|---|---|---|---|
| March 20, 2026 | M/s Vatsankit Shah Trust (Promoter Group) | Vatsankit Shah (Promoter Group) | 8,45,906 | 2.00% |
Source:
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