Global Surfaces IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Mar 24, 2023It’s the season of IPOs. Every now and then, companies enter the ring to go public and get their shares listed on the stock exchanges.
IPO has been among the popular sources to raise funds of wholesome quantum. Sometimes, it is for expansion and adding new facilities, and other times, it can be to make the company debt-free.
Despite the quantum or purpose, every company willing to bring an IPO is required to acquire permission from SEBI to bring its IPO on the Indian market floor.
And one such company which has knocked the SEBI for seeking its approval on IPO is Global Surfaces Limited. Global Surfaces IPO consists of both forms, i.e., new issue as well as share sale by existing shareholders.
Let’s go deep into this IPO with our Global Surfaces IPO Review.
| Face Value | Rs 10 |
| Price Band | Rs 133 to Rs 140 |
| Listing At | BSE, NSE |
| Min. Order Quantity | 100 Shares |
| Listing Date | Mar 23, 2023 |
| Offer for Sale | Not Disclosed |
| Fresh Issue | Not Disclosed |
| IPO Size | Rs 154.98 Cr. |
| Tick Size | 1 |
Global Surfaces IPO Overview
Global Surfaces IPO will consist of a Fresh Issue of Equity Shares aggregating up to 8,520,000 Equity Shares and an Offer for Sale for up to 2,550,000 Equity Shares by the company’s promoters – Mayank Shah and Sweta Shah.
The Draft Red Herring Prospectus has been filed by the company on 26th June 2022 and will disseminate further details on the IPO launch after the capital market regulator, SEBI, approves the draft papers.
Global Surfaces IPO Important Dates
| Events | Date |
| IPO Opening Date | Mar 13, 2023 |
| IPO Closing Date | Mar 15, 2023 |
| Basis of Allotment Finalization | Mar 20, 2023 |
| Refunds Initiation | Mar 21, 2023 |
| Credit of Shares to Demat Account | Mar 22, 2023 |
| Share Listing Date | Mar 23, 2023 |
Global Surfaces IPO Dates have not been discovered till now as the company has recently submitted the preliminary papers and is waiting for approval.
They will announce the details on the IPO opening and closing dates, listing date, and all further details considering all the essential factors having their bearing on the success of the IPO.
Global Surfaces IPO Price, Size, Share Offerings
| Face Value | Rs.10 |
| Price Band | Rs 133 to Rs 140 |
| Offer for Sale | Not Disclosed |
| Fresh Issue | Not Disclosed |
| IPO Size | Rs 154.98 Cr. |
The IPO price is the sum decided through the book-building process. It is the amount bidders are required to pay for buying company shares. IPO size is the quantum of shares offered to the public.
Global Surfaces IPO Size and Global Surfaces IPO Price will be determined with the help of the Book Building Process. The bidders will be required to place their bids with a particular price range known as the price band. And once the price has been determined, the successful bidders will be allotted the shares.
Global Surfaces IPO Grey Market Premium
| Date | GMP (Rs.) | Kostak Rate (Rs.) | Subject to Sauda (Rs.) |
| 24 Mar 2023 | Rs 15 | NA | NA |
| 23 Mar 2023 | Rs 15 | NA | NA |
| 22 Mar 2023 | Rs 15 | NA | NA |
| 21 Mar 2023 | Rs 15 | NA | NA |
| 20 Mar 2023 | Rs 15 | NA | NA |
| 18 Mar 2023 | Rs 15 | NA | NA |
| 17 Mar 2023 | Rs 10 | NA | NA |
| 16 Mar 2023 | Rs 20 | NA | Rs 20,000 |
| 15 Mar 2023 | Rs 20 | NA | Rs 20,000 |
Grey Market Premium is the amount at which shares offered in the IPO are traded in the Grey Market. Grey Market is an unofficial marketplace where the shares of a company launching its IPO are traded before the listing.
Trading in Grey Market is not illegal, but any market regulatory authority does not regulate it. Global Surfaces IPO GMP will be available after the company fixes the IPO dates.
Global Surfaces IPO Subscription Status
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day -13th Mar | 0.01x | 0.57x | 0.62x | 0.43x |
| 2nd Day – 14th Mar | 0.04x | 1.66x | 1.47x | 1.10x |
| 3rd Day – 15th Mar | 8.95x | 33.10x | 5.12x | 12.21x |
| Shares Offered or Net Issue | 2,214,000 | 1,660,500 | 3,874,500 | 7,749,000 |
The IPO Subscription process plays a crucial role during the period an IPO is open to the public. During this period, the public placed their bids in order to receive an allotment for the shares of the company.
Global Surfaces IPO Subscription will occur after the company receives approval for its DRHP. The company will determine and announce the IPO opening period and price details for the public to subscribe.
Global Surfaces IPO Allotment Status
Global Surfaces IPO Allotment basis has not been determined as of now. The company is working on the preliminary steps right now. Once the IPO has been approved and it successfully receives all the applications for subscription, it will proceed with the allotment process.
The shares will be allotted to the successful bidders during allotment.
Global Surfaces IPO Live Performance
Stay updated with every information on Global Surfaces IPO Performance and choose the right time to invest in it by knowing the updated Global Surfaces IPO Price.
Subscribe to Global Surfaces IPO – Open Free Demat Account Now!
Global Surfaces – Company Review
Global Surfaces started its operations as Swastic Niwas Private Limited in August 1991 as a private limited company. In May 2004, the company changed its name to Global Stones Private Limited and further changed it to Global Surfaces Private Limited in October 2021.
Global Surfaces is promoted by Mayank Shah. The company operates in the natural stone industry and has a high market share for a variety of purposes.
Global Surfaces presently has two manufacturing and processing facilities, and both are situated in Jaipur, Rajasthan. One of the facilities is at Mahindra World City SEZ, Jaipur, and the other one is at RIICO Industrial Area, Bagru Extn, Bagru, Jaipur.
Products or Services
The company is engaged in the processing of natural stones. Also, it is in the creation of engineered quartz. Limestone, slate, onyx, granite, marble, sandstone, quartzite, travertine, and other materials. These materials are generally mined from the earth and are created through intricate geological processes.
The company does not only operate in the Indian industry but has made a strong impact on international demand. They have exported to Canada, the Middle East, Australia, and the United States.
Promoters and Holding
The Promoter of Global Surfaces Limited is Mayank Shah.
The management of the company comprises the following:
- Mayank Shah, in the position of Managing Director & Chairperson
- Sweta Shah, in the position of Executive Director
- Ashish Kumar Kachawa, in the position of Non-Executive Director
- Dinesh Kumar Govil, in the position of Non-executive Independent Director
- Yashwant Kumar Sharma, in the position of Non-executive Independent Director
- Sudhir Baxi, in the position of Non-executive Independent Director
- Rajesh Gattani, in the position of Chief Financial Officer
- Aseem Sehgal, in the position of Company Secretary
Is Global Surfaces good for Investment?
Global Surfaces Limited has been in operation for decades. It is serving in a specialized industry and has contributed outstandingly with its quality products and services for the customers.
The products of Global Surfaces are applied in residential and commercial sectors in the country. Also, the company has not only established itself in the domestic market but also in the international market.
The products of the company are put to a variety of uses, and the entity continuously aims at adding new products to its portfolio and expanding it to newer levels.
The company has attained immense growth over the years in terms of expanding profits as well as its inner strengths.
Global Surfaces Financial Statements
| Amount (in INR & Million) | |||
| 31-Mar-22 | 31-Mar-21 | Mar-20 | |
| Assets | 2,364.82 | 1,589.97 | 1,287.29 |
| Revenue | 1,983.57 | 1,790.04 | 1,657.80 |
| Expense | 1,622.51 | 1,444.74 | 1,450.59 |
| Profit After Tax | 356.34 | 339.32 | 209.64 |
The financial reports of the past years of Global Surfaces portray a prospective image.
The company’s total income in the past financial years was 1,983.57 million as of March 2022, 1,790.04 million as of March 2021, and 1,657.80 million as of March 2020. As you can see, the income is rising every year.
Now, further talking about the profits, the results have been positive. The profits for the years 2022, 2021, and 2020 were – 361.06 million, 345.30 million, and 207.21 million, respectively.
| Earnings per Equity Share (in Million) | |||
| 31-Mar-22 | 31-Mar-21 | Mar-20 | |
| Basic & Diluted | 10.52 | 10.02 | 6.19 |
The earnings per share of Global Surfaces was Rs. 10.52 as on 31st March 2022, and in the previous year, the EPS stood at Rs. 10.02.
Global Surfaces IPO Review
Global Surfaces IPO is a combination of a Fresh Issue and an Offer for Sale. The two promoters of the company, Mayank Shah and Sweta Shah, will be offloading their shares in the IPO. Both shareholders will be offering 1,400,000 and 1,150,000 equity shares, respectively.
The company aims to utilize the funds from the fresh issue towards establishing its new facility for expansion in the industry and growth. The company’s products are used for diversified purposes, and its customer base is also strong.
The Global Surfaces IPO will bring new avenues for the company and help it attain newer prospects.
Global Surfaces IPO Details
Here are few more details you need to know before investing in Global Surfaces IPO –
Global Surfaces IPO Issue Object
They have proposed diverse objectives for making the IPO offer and some of the objectives are:
- Investment in our 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”);
- General corporate purposes.
Global Surfaces IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Wide product portfolio and multiple designs
- Established presence in international markets
- Experienced and result-oriented Promoter
- Synergy of young and experienced management team with a committed employee base
- Effective quality checks thereby reducing loss
- R&D set up for new product development.
Quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs. million) | |
| 31-Mar-22 | 10.52 | 26.59 | 39.58 |
| 31-Mar-21 | 10.02 | 34.47 | – |
| Mar-20 | 6.19 | 32.51 | – |
Global Surfaces IPO Lead Managers
Here is the list of Lead managers –
- Unistone Capital Private Limited
Global Surfaces IPO Registrar to offer
Check out the details of the registrar here –
BIGSHARE SERVICES PRIVATE LIMITED
S6-2, 6th Floor, Pinnacle Business Park, Next to Ahura Centre, Mahakali Caves Road, Andheri
(East), Mumbai – 400 093, Maharashtra, India.
Telephone: 022-62638200
Facsimile: 022-63638280
Email: ipo@bigshareonline.com;
Investor grievance email: investor@bigshareonline.com
Contact Person: Mr. Jibu John
Website: www.bigshareonline.com
SEBI Registration Number: INR000001385
CIN: U99999MH1994PTC076534U6
Global Surfaces IPO – Other Details
- Statutory Auditor – B. Khosla and Company
- Legal Counsel to the Company – M/s. Alliance Law
- Bankers to the Company – Punjab National Bank
Global Surfaces IPO – Conclusion
Now, this was all about the Global Surfaces IPO. The company is preparing in full swing to launch its IPO soon and make its shares listed on the main board exchanges. Given the products and their application diversification, Global Surfaces has high growth opportunities in the industry.
Investors can consider investing in this natural stone processing company with the aim to reap high returns as the company grows in operations and area.
To Subscribe to Global Surfaces IPO – Open Demat Account Now!
Global Surfaces IPO Review FAQs
Check out the FAQs on Global Surfaces IPO –
What is the Issue Size of Global Surfaces IPO?
The Company is making an initial public offer of 11,070,000 equity shares. They vividly portray the aspects of the issue in this article.
You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of Global Surfaces IPO?
The price band for this particular IPO ranges between Rs 133 to Rs 140. As far as the face value of the share is of concern, it is Rs.10 per share.
What is the Global Surfaces IPO Open Date?
The opening and closing dates for this IPO have not been updated. The IPO is set to open on Mar 13, 2023, while the closing date is set for Mar 15, 2023.
What is the Global Surfaces IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. The basis of Allotment finalization is on Mar 20, 2023, refund initiation is on Mar 21, 2023, credit of shares is on Mar 22, 2023, and share listing date is on Mar 23, 2023.
What is the Global Surfaces IPO Listing Date?
Shares of this company shall be listed in the exchanges Mar 23, 2023. The date, when the listing would be done, is stagnant on Mar 23, 2023.
Who is the Registrar of Global Surfaces IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. Bigshare Services Private Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Global Surfaces IPO?
Here are the promoters of this IPO – Mayank Shah. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Global Surfaces IPO?
They have obtained the GMP of this IPO and it is Rs 15. Further insights into the Kostak rate and subject to sauda or SS are as well included in this report.
Is Global Surfaces IPO good for Investment?
They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Global Surfaces Company?
They have the information on company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2022 in Million is 356.34, 2021 is 339.32, 2020 is 209.64.
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