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Global Surfaces IPO closes today; Check live subscription status here

15 Mar 2023 , 11:50 AM

Rs 155 crore initial public offer (IPO) of Global surfaces Limited was fully subscribed 1.09 times on the second day of the offer on Tuesday, March 14. Click here to subscribe the IPO.

The issue will conclude today and has received high demand from non-institutional investors and retail investors as their reserved portion were subscribed 362% and 195%, respectively. Qualified institutional buyers have bid for 6% shares of the portion set aside for them at 11.30 AM on March 15.

Global Surfaces IPO important details:

Open date  March 13, 2023
Close date  March 15, 2023
Lot size  100 shares
IPO size (Rs crore)  Rs 154.98 crore
IPO price range (Rs)  Rs 133-140
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

 

The IPO comprises fresh issuance of 85.20 lakh equity shares and an Offer for Sale (OFS) of up to 25.5 lakh equity shares by promoters – Mayank Shah and Sweta Shah. Funds raised through fresh issue will be used towards setting up the company’s proposed facility – Global Surfaces FZE – in Dubai. 

The company is engaged in the business of processing natural stones and manufacturing engineered quartz and has 2 manufacturing units in Rajasthan.

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