Global Surfaces IPO opens today: Check live subscription status

13 Mar 2023 , 11:36 AM

The initial public offer of Jaipur-based processing natural stones and manufacturing engineered quartz company Global Surfaces opens today on March 13 and will conclude on March 15. The company is issuing its shares at a price band of Rs 133-140. Investors can apply in a lot size of 100 shares and its multiples thereof. Click here to invest in the IPO.

As of 11.30 am on day 1, the issue has been subscribed 8% as retail investors’ category booked 14% of the reserved quota and NIIs booked 3%, as per BSE data showed.

The IPO of Global Surfaces comprises fresh issuance of 85.20 lakh equity shares and an Offer For Sale of up to 25.5 lakh equity shares by promoters – Mayank Shah and Sweta Shah. 

The company will use net proceeds towards investment in the company’s wholly-owned subsidiary Global Surfaces FZE to finance its capital expenditure of setting up the production facility in JAFZA, Dubai and for general corporate purposes. The part of proceeds will also be used to support the company’s growth goals, which include growing its product lines and its global expansion.