Global Surfaces Limited announced a private placement of up to maximum of 9,500,000 convertible warrants at a price of INR 52.5 per warrant for the gross proceeds of INR 498,750,000 on October 19, 2023. The warrants will be convertible into one common share at a conversion price of INR 157.5 per share. The transaction will include participation from investor, Minerva Ventures, LLC for 2,000,000 warrants, Forbes EMF for 2,000,000 warrants, Arrow Emerging Opportunities Fund Limited for 1,500,000 warrants, Ariston Capital Limited for 500,000 warrants, Ebene Global Opportunity Fund for 1,000,000 warrants, investors, Mayank Shah for 2,000,000 warrants, Sweta Shah for 500,000 warrants.

Post the completion of the transaction, the company's registered capital will be increased from INR 460,000,000 to INR 550,000,000.