Vatsankit Shah has Submitted to the Exchange a copy of Disclosure under Regulation 10 (5) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
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Awaiting price reaction for this filing.
Vatsankit Shah, part of the promoter group and son of promoter Mayank Shah, is set to receive 8,45,906 equity shares (2.00% of paid-up capital) of Global Surfaces Limited from M/s. Vatsankit Shah Trust. The transfer is happening because the trust — originally created when Vatsankit Shah was a minor — is being dissolved now that he has attained majority, and the shares are being passed to him as the sole beneficiary. No cash consideration is involved. The transaction qualifies as an inter-se transfer within the promoter group and is exempt from an open offer under Regulation 10(1)(a)(ii) of the SEBI Takeover Regulations. The total promoter and promoter group holding remains unchanged at 73.25% before and after the transfer, with the proposed effective date being on or after March 20, 2026.
This is a pure internal reshuffling within the promoter family and does not change the aggregate promoter shareholding or voting power in the company, so it is unlikely to have any meaningful impact on the stock price. It simply moves shares from a trust entity into the direct personal name of an individual promoter group member.