Global Surfaces IPO opens today: GMP, subscription status, all details here

The initial public offer (IPO) of Global Surfaces will open for subscription today, March 13. The company processes natural stones and manufactures engineered quartz. The company has two manufacturing facilities in Rajasthan. The issue will close for subscription on Wednesday, March 15. 

 

Global Surfaces IPO comprises fresh issuance of 85,20,000 equity shares and an Offer For Sale of up to 25,50,000 lakh equity shares by promoters - Mayank Shah and Sweta Shah. Funds raised through fresh issuance will be used to set up the company's proposed facility in Dubai.

 

Global Surfaces IPO: GMP, subscription status, and other details here

 

Global Surfaces IPO GMP: According to reports, Global Surfaces shares currently have a grey market premium (GMP) of Rs 35 today. 

 

Global Surfaces IPO subscription status: According to BSE, as of 10:40 AM on Monday, the issue has been subscribed 0.04 times as the retail investors' category booked 0.08x and NIIs 0.01x.

 

Global Surfaces IPO price band: Global Surfaces IPO has set a price band of Rs 133-140 a share. Investors can bid for 100 shares in 1 lot and in multiples thereof. At the upper end of the price band, the company is expected to fetch Rs 155 crore from the IPO.

 

Global Surfaces IPO listing date: The company's shares are expected to list on BSE and NSE on March 23, 2023. If GMP stays the same, the company's shares may list at Rs 175 apiece. 

 

The company recorded a total income of Rs 198 crore in FY2022. Its net profit after tax stood at Rs 35 crore. For the period ended September 2022, the company's income stood at Rs 99 crore, and profit stood at Rs 13.6 crore.