Global Surfaces IPO subscribed 90% so far on day 2

14 Mar 2023 , 04:15 PM

The engineered quartz manufacturer Global Surfaces initial public offer (IPO) of Rs 155 crore has subscribed 90% on day 2 by 4.00 PM. Click here to subscribe the IPO.

As per BSE website, the issue received bids for 70,04,200 equity shares against 77,49,000 shares offered. The portion for retail investors and Non Institutional Investors (NIIs) has been fully subscribed by 126% and 124%. Whereas the Qualified institutional buyers have bid only for 3% shares of the portion set aside for them.

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 offer comprises fresh issue of equity shares 119.28 crore and an offer for sale by promoters of up to 2,550,000 equity shares. 

Global Surfaces has 2 units, Unit-I located at RIICO Industrial Area, Jaipur and the Unit-II at Mahindra World City SEZ, Jaipur, both in Rajasthan for processing and manufacturing of their products.