Global Surfaces makes stellar debut; zooms 23% over issue price

It earns 99% of its revenues from overseas markets like US, Canada and the Middle East. Segment wise, engineered quartz make for 83% of its revenue while natural stones make for 17%

Natural stone processor Global Surfaces made a stellar debut on the bourses on Thursday beating grey market expectations. The stock listed 17 per cent higher at Rs 164 per share on NSE as against the issue price of Rs 140 apiece. On the BSE, the stock debuted at Rd 163.

As per IPO Watch, the stock was commanding a premium of 11 per cent in the grey market over its issue price prior to listing.  

The share touched an intra-day high of Rs 172.2 on the NSE, and, eventually, closed at Rs 172.15, higher by 23 per cent against the