Global Surfaces Limited — JV/Acquisition, 03-02-2026: Acquisition

Global Surfaces' board approved a significant capital restructuring for its wholly-owned subsidiary, Global Surfaces FZE. A ₹50 Crore unsecured loan will convert into FZE equity shares, aiming to strengthen its balance sheet, cut finance costs, and boost long-term growth without new cash outflow. Additionally, the company is discontinuing operations at its Bagru Natural Stone unit by March 31, 2026, citing sustained losses and under-utilization. This unit contributed 8.94% of last year's revenue, and its closure seeks to enhance overall business efficiency.