Global Surfaces IPO subscription to start on March 13: Here are the top 10 things to know

Global Surfaces on Friday said it has set a price band of Rs 133-140 a share for its initial share sale (IPO). It is expected to fetch Rs 155 crore from the IPO at the upper end of the price band.

Global Surfaces IPO: The company has been in the business of processing natural stones since 2004 - Image Source: Pixabay

Global Surfaces IPO: The initial public offering of Global Surfaces Ltd, which is into processing natural stones and manufacturing engineered quartz, opens for subscription on March 13, will close on March 15, 2023, as per the company’s statement.

1) The company on Friday said it has set a price band of Rs 133-140 a share for its initial share sale (IPO). It is expected to fetch Rs 155 crore from the IPO at the upper end of the price band.

2) The IPO comprises fresh issuance of 85.20 lakh equity shares and an Offer For Sale of up to 25.5 lakh equity shares by promoters -- Mayank Shah and Sweta Shah.

3) Funds raised through fresh issuance will be used for setting up the company's proposed facility -- Global Surfaces FZE -- in Dubai.

4) Half of the issue size has been reserved for qualified institutional buyers, up to 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors.

5) Global Surfaces is a B2B processor engaged in the most exquisite range of products

Natural stones processing - Granite, Marbles, Soft Quartzite, Phylites & Soapstone
Engineered quartz manufacturing - Stratum, Prismatic, Kalmasa & Aurora

6) The company’s revenue from operations increased from Rs 23.289 crore to Rs 190.313 crore, representing a CAGR growth of 21.04 per cent over the last 11 years.

Also Read: Global Surfaces IPO subscription opens today: Check price band, allotment date and listing date

7) Global Surfaces has consistently demonstrated strong financial performance, with growth in profits, debt reduction, and improved working capital management.

8) Unistone Capital is the sole book running lead manager and Bigshare Services Private Limited is registrar to the issue.

9) The equity shares of the company will be listed on the BSE and NSE.

10) Global Surfaces Limited has been in the business of processing natural stones since 2004 and entered the manufacturing of engineered quartz in 2018.

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