Global Surfaces IPO GMP, Price, Dates & Allotment Details 2023

The Global Surfaces IPO will open on March 13 and close on March 15, 2023. As per the DRHP filed with SEBI, the company intends to raise approximately ₹ 154.98 crore through this public offering, consisting of 11,070,000 shares of face value of ₹ 10 each. Which will be issued at a price of ₹ 133 to ₹ 140 per share.

Constituted in 1991. The production of manufactured quartz and the processing of natural stones are the two main businesses operated by Global Surfaces Limited. Natural stones are substances that are dug from the earth and produced by complex geological processes. Examples include granite, limestone, marble, slate, quartzite, onyx, sandstone, travertine, and other substances. Natural stones are prized for their individuality, aesthetic appeal, texture, color, and composition because no two are precisely alike. As an example of engineered stone used in the countertop industry, engineered quartz is a composite material made of crushed stone held together by an adhesive. For instance, the slabs used for countertops are made by melting quartz crystals with a resin binder.

In 2021, the global market for natural and manufactured stone was valued at $60,148 million, and by 2030, it is expected to reach $105,265 million.

For processing and manufacture of its products, the company has two facilities, one in RIICO Industrial Area, Bagru Extn, Bagru, Jaipur, Rajasthan, and the other at Mahindra World City SEZ, Jaipur, Rajasthan.

Objects of the Issue

The company proposes to utilize the net proceeds of the Fresh Issue towards funding the following objects:

1. Investment in the wholly owned subsidiary, Global Surfaces FZE, for part-financing its capital expenditure requirements in relation to the setting up of a manufacturing facility for engineered quartz at the Jebel Ali Free Zone, Dubai, United Arab Emirates (UAE);
2. general corporate purposes.

Financial Highlights (Restated)

Particulars	Period ended on 30th Sep. 2022	FY 2021-22	FY 2020-21	FY 2019-20
Net Worth	149	134	98	64
Total Assets	280	236	159	129
Total Borrowings	51	37	37	53
Total Revenue	99	198	179	166
Profit After Tax	14	36	34	21

Global Surfaces IPO – Details

As per the DRHP filed with SEBI, a total of 85.20 lakh shares will be offered as part of the fresh issue on the BSE and NSE. The face value of the shares is ₹  10. While Unistone Capital Pvt Ltd  will be the lead manager for the IPO, Bigshare Services Pvt Ltd will be the registrar. It will be a book-built issue, so there will be a price band rather than a price point, and the actual issue price will be discovered through the building of the book.

Issue Type	Book Built Issue IPO
IPO Price	₹ 133 to ₹ 140 per share
Face Value	₹ 10 per share
Market Lot	100 Shares
Issue Size	11,070,000 shares of ₹ 10  (Aggregating up to ₹ 154.98 Crore)
Fresh Issue	2,550,000 shares of ₹ 10  (Aggregating up to ₹ [.] Crore)
Offer for Sale	8,520,000 shares of ₹ 10  (Aggregating up to ₹ [.] Crore)
QIB Shares Offered	Not more than 50% of the Offer
NII (HNI) Shares Offered	Not less than 15% of the Net Offer
Retail Shares Offered	Not less than 35% of the Net Offer
Listing At	BSE, NSE
Company Promoters	Mr. Mayank Shah

GMP – Global Surfaces IPO

Global Surfaces’ IPO GMP, or grey market premium, is available on this page. The IPO GMP is updated on a day-to-day basis during the running period of the IPO, due to which the GMP rates fluctuate and stabilize after some time. GMP rates are not 100% guaranteed. Please click here for GMP details.

Tentative Dates – Global Surfaces IPO

The issue opens for subscription on March 13, 2023, and closes for subscription on March 15, 2023 (both days inclusive). The basis of allotment will be finalized on March 20th, 2023, and the refunds will be initiated on March 21st, 2023. In addition, the demat credits are expected to happen on March 22nd, 2023, and the stock will list on March 23rd, 2023, on the BSE and NSE. 

Opening Date	March 13, 2023
Closing Date	March 15, 2023
Basis of Allotment	March 20, 2023
Initiation of Refunds	March 21, 2023
Credit of shares to Demat A/c	March 22, 2023
Listing Date	March 23, 2023

Lot Size – Global Surfaces IPO

The lot size of the Global Surfaces IPO is 100 shares. A retail-individual investor can apply for up to 14  lots, i.e. 1,400 shares of  ₹ 196,000.

Applications	Lots	Shares	Amount
Retail (Minimum)	1	100	₹ 14,000
Retail (Maximum)	14	1,400	₹ 196,000
S-HNI (Minimum)	15	1,500	₹ 210,000
B-HNI (Minimum)	72	7,200	₹1,008,000

Promoters Holdings – Global Surfaces IPO

Pre-issue Shares Holdings	99.35%
Post-issue Shares Holdings	–

Miscellaneous Information

Download Prospectus (PDF)	IPO DRHP IPO RHP
Company Contact Information	Global Surfaces Limited Plot No. PA-10-006, Engineering and Related Industries SEZ, Mahindra World City, Sanganer Jaipur – 302 037 Phone: 0141-7191000 Email: [email protected] Website: http://www.globalsurfaces.in/
IPO Registrar	Bigshare Services Pvt Ltd Phone: +91-22-6263 8200 Email: [email protected] Website: https://www.bigshareonline.com/
IPO Lead Manager(s)	Unistone Capital Pvt Ltd

FAQ’s

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