Global Education Limited has informed the Exchange regarding 'Board of Directors in its meeting held on Monday, the 04th August, 2025 has considered and approved the request letter dated 29th July 2025 received for reclassification of the status by Mr. Rishabh Sunil Surana from Promoter Group Shareholder to Public Shareholder pursuant to Regulation 31A of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 subject to the requisite approvals from the Stock exchange'.
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Global Education Limited's Board has approved the reclassification of Mr. Rishabh Sunil Surana from 'Promoter Group Shareholder' to 'Public Shareholder' under SEBI Regulation 31A. Mr. Surana currently holds zero equity shares in the company, having sold his entire stake in multiple tranches through open market sales. At the time of the 2017 IPO, he held 36,000 shares (1.4499% of paid-up capital), and as of June 10, 2025, his holding had come down to 2,500 shares (0.005%), which he has since fully sold. The reclassification is subject to approval from NSE. Since Mr. Surana and related persons together hold less than 1% voting rights, no shareholder approval is required.
This is a routine procedural reclassification of a former promoter who has already fully exited his shareholding, so there is no material impact on existing shareholders or the stock price. It simply formalizes the fact that Mr. Surana no longer has any stake, voting rights, or control over the company.