Global Surfaces Limited has informed the Exchange regarding the Amendment to AOA/MOA of the company.
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Global Surfaces Limited concluded its Postal Ballot on June 30, 2025, with all three resolutions passed by shareholders. Resolution 1 (Ordinary) approves material related party transactions with subsidiaries Global Surfaces Inc. and Superior Surfaces Inc. up to an aggregate value of ₹150 Crore in FY 2025-26. Resolution 2 (Special) authorises the company to raise up to ₹155 Crore in one or more tranches through equity shares, QIPs, GDRs, ADRs, FCCBs, or other eligible securities. Resolution 3 (Ordinary) increases the authorised share capital from ₹55 Crore to ₹65 Crore (divided into 6.5 crore equity shares of ₹10 each) and amends Clause V of the Memorandum of Association accordingly. The remote e-voting was conducted via NSDL from June 1 to June 30, 2025, and scrutinised by an independent company secretary.
Shareholders have greenlit a potential equity or securities raise of up to ₹155 Crore, which could lead to share dilution when executed. The increased authorised capital and related party transaction approval give the board flexibility for fundraising and group-level transactions, but investors should watch for the actual fundraise announcement, pricing, and dilution impact.