Global Surfaces IPO Subscribed Over 12 Times By The Final Day

Global Surfaces Ltd IPO got subscribed 12.21 times on the last day, at a price band of ₹133-140. The company processes natural stones & manufactures engineered quartz.

The Initial Public Offering (IPO) of Global Surfaces Ltd. was subscribed 12.21 times on Wednesday, the final day of the sale. 

In response to the offer, which included 77.49 lakh shares, bids for 9.46 crore equity shares were received. The business specified a price range of $133 to $140 per share.

Non-Institutional Investors’ (NIIs’) part received 33.10 times the number of subscriptions expected. Retail Individual Investors (RIIs) received 5.12 times as many subscriptions as the Qualified Institutional Buyers (QIBs) part of the quota.

Market watchers report that today’s gray market premium (GMP) for Global Surfaces shares is $18. 

On Thursday, March 23, 2023, the company’s shares are anticipated to list on the top stock exchanges BSE and NSE. On March 20, 2023, the foundation for the share allotment is anticipated to be finalized. Registrar for the offering is Bigshare Services Pvt Ltd.

Global Surfaces, a company that processes natural stones and creates manufactured quartz, announced on Friday that it has received 46.49 crore from anchor investors in advance of its debut share offering.

The Global Surfaces IPO consists of a fresh 85.20 lakh equity share issuance as well as a promoters’ Offer For Sale (OFS) of up to 25.5 lakh equity shares. The company’s projected facility, Global Surfaces FZE, in Dubai, will be built with the money raised through the fresh offering.

The production of manufactured quartz and the processing of natural stones are the two main businesses operated by Global Surfaces Limited. In Rajasthan, the firm operates 2 production facilities. The issue’s solved book-running lead manager is Unistone Capital.

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