7,805,450 Equity Shares of Global Surfaces Limited are subject to a Lock-Up Agreement Ending on 30-SEP-2023. These Equity Shares will be under lockup for 198 days starting from 16-MAR-2023 to 30-SEP-2023.

Details:
Pursuant to Regulation 14 and 16 of the SEBI ICDR Regulations, an aggregate of at least 20% of the post- Offer Equity Share Capital of Company held by Promoter shall be considered as Promoter?s Contribution ("Promoter?s Contribution") and shall be locked-in for a period of three (3) years from the date of Allotment. The lock-in of the Promoter?s Contribution would be created as per applicable law and procedure and details of the same shall also be provided to the Stock Exchanges before listing of the Equity Shares.

In terms of Regulation 16(1)(b) and 17 of the SEBI ICDR Regulations, the Promoter?s holding in excess of minimum Promoter?s Contribution, will be locked-in for one (1) year and the entire pre-offer capital held by the persons other than Promoter, will be locked-in for six (6) months, from the date of Allotment. The shares which are in dematerialized form shall be locked- in by the respective depositories. The details of lock- in of the Equity Shares shall also be provided to the Designated Stock Exchange before the listing of the Equity Shares.

In terms of Regulation 21 of the SEBI ICDR Regulations, locked-in Equity Shares for three years held by Promoter may be pledged only with scheduled commercial banks or public financial institutions or a systematically important non-banking finance company or a housing finance company as collateral security for loans granted by such banks or public financial institutions, provided that such pledge of the Equity Shares is one of the terms of the sanction of the loan. Equity Shares locked-in as Promoter?s Contribution for three years under Regulation 16(a) of the SEBI ICDR Regulations may be pledged only if in addition to fulfilling the aforementioned requirements, such loans have been granted to the Issuer Company or its subsidiary(ies) by such banks or financial institutions for the purpose of financing one or more of the objects of the Offer.