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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