The initial public offering (IPO) of Global Surfaces Limited was subscribed 12.21 times till the last day of offer on Wednesday, March 15, 2023. Bids were received for 9.46 crore equity shares against 77.49 lakh shares on offer. The company has fixed the price band 133-140 a share.
finalization of the basis of share allotment of Global Surface IPO The same is expected to happen on Monday March 20, 2023, and if allotted, the credit of shares in the demat account will be done on March 22, 2023. BigShare Services Pvt Ltd is the registrar to the issue so the status can be verified. Here or on BSE website Here,
According to market observers, Global Surface shares are earning a premium (GMP) Of 12 in gray market today. The shares of the company are expected to get listed on major stock exchanges BSE & NSE this week on Thursday, March 23, 2023.
The Global Surface IPO comprises issuance of 85.20 lakh equity shares and offer for sale (OFS) of 25.5 lakh equity shares by the promoters – Mayank Shah and Sweta Shah. The funds raised from the fresh issue will be used to set up the company’s proposed entity – Global Surface FZE – in Dubai.
Global Surfaces, which is into processing natural stones and manufacturing engineered quartz, collected 46.49 crore from anchor investors before its initial share sale.
Global Surfaces Limited is engaged in the business of processing natural stones and manufacturing engineered quartz. The company has 2 manufacturing units in Rajasthan. For FY22, the company posted a profit after tax of Rs. 35.63 crore as compared to 33.93 crore in FY21.
Know your inner investor
Do you have guts of steel or are you a victim of insomnia regarding your investments? Let’s define your investment approach.
catch all business News, market news, today’s fresh news events and Breaking News Update on Live Mint. download mint news app To get daily market updates.