Global Surfaces Limited fixed IPO price at Rs 133-144 a share

6 Mar 2023 , 09:43 AM

Global Surfaces Limited, a company engaged in processing natural stones and manufacturing engineered quartz’ initial public offer is opening for subscription from March 13-15. The company has fixed the price band at Rs 133-144 per share. Investors who want to invest in the IPO should apply in a lot size of 100 shares.

The IPO comprises fresh issue up to 8,520,000 equity shares and an offer for sale of 2,550,000 shares. The promoters of the company, Mayank Shah and Swati Shah are offloading 14,00,000 and 11,50,000 equity shares.

The company has reserved 50% of the issue size for QIB, 15% for HNI and 35% for retail investors.

It has two units, one located at RIICO Industrial Area, Bagru Extn, Bagru, Jaipur, Rajasthan, and the other at Mahindra World City SEZ, Jaipur, Rajasthan. Both units engage in the processing and manufacturing of the products.

Open date	March 13, 2023
Close date	March 15, 2023
Lot size	100 shares
IPO size (Rs crore)	154.98 crore
IPO price range (Rs)	Rs 133-144 a share
Minimum investment	Rs 14,000
Basis of allotment date	March 20, 2023
Refunds date	March 21, 2023
Credit to demat account date	March 22, 2023
Listing date	March 23, 2023

 

Unistone Capital Pvt Ltd is the sole lead manager of the IPO. 

The company will be using the net proceeds for investing in a wholly owned subsidiary, Global Surfaces FZE for part-financing its capital expenditure requirements in relation to the setting up of a manufacturing facility for engineered quartz at The Jebel Ali Free Zone, Dubai, United Arab Emirates (UAE) and for general corporate purposes.