Global Surfaces IPO subscribed 12.2 times on strong HNI, retail interest

The rich investor portion was covered 33 times compared with 5.1 times for the retail participant; QIB portion was muted at 9%

The IPO of Global Surfaces garnered 12.2 times subscription. The retail portion of the issue was subscribed 5.1 times, while the high networth portion (HNI) was covered 33 times. The institutional investor portion of the issue was subscribed nearly 9 per cent.

Through the IPO, Global Surfaces issued new shares worth about Rs 120 crore. The offering also consisted of secondary share sale worth Rs 36 crore. The price band for the IPO was Rs 133-140 per share.