Home/ Markets / Stock Markets/  Global Surfaces shares list at premium over IPO issue price

Shares of Global Surfaces Ltd made their positive market debut on Thursday with the stock listing at 164 apiece on the NSE, a premium of more than 17% as compared to its IPO issue price of 140 per share. On the BSE, Global Surfaces shares started trading at 163 a piece.

Global Surfaces Ltd's initial public offering (IPO) was subscribed 12.21 times by the final day of the offer on Wednesday, March 15, 2023. The offer received bids for 9.46 crore equity shares against 77.49 lakh shares on offer. 

The portion for Non-Institutional Investors (NIIs) received 33.10 times subscription. The quota for Qualified Institutional Buyers (QIBs) got subscribed 8.95 times and the Retail Individual Investors (RIIs) portion was subscribed 5.12 times. 

Half of the issue size was reserved for QIBs, up to 35% for retail investors and the remaining 15% for NIIs. The company had set a price band of 133-140 a share.

The initial share sale comprised of 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 issuance will be used for setting up the company's proposed facility - Global Surfaces FZE - in Dubai.

Global Surfaces Limited is engaged in the business of processing natural stones and manufacturing engineered quartz. The company has 2 manufacturing units in Rajasthan. For FY22, the company posted a net profit of 35.6 crore as compared to 34 crore in FY21.

Know your inner investor Do you have the nerves of steel or do you get insomniac over your investments? Let’s define your investment approach.
Take the test
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Updated: 23 Mar 2023, 10:00 AM IST
Recommended For You

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started
Get alerts on WhatsApp
Set Preferences My Reads Watchlist Feedback Redeem a Gift Card Logout