Bookbuilding IPO | ₹155 Cr | Listed at BSE, NSE | Mon, Mar 13, 2023 - Wed, Mar 15, 2023
Global Surfaces IPO is a book build issue of ₹154.98 crores. The issue is a combination of fresh issue of 0.85 crore shares aggregating to ₹119.28 crores and offer for sale of 0.26 crore shares aggregating to ₹35.70 crores.
Global Surfaces IPO bidding started from Mar 13, 2023 and ended on Mar 15, 2023. The allotment for Global Surfaces IPO was finalized on Mar 20, 2023. The shares got listed on BSE, NSE on Mar 23, 2023.
Global Surfaces IPO price band is set at ₹140 per share. The lot size for an application is 100. The minimum amount of investment required by an retail is ₹14,000 (100 shares) (based on upper price). The lot size investment for sNII is 15 lots (1,500 shares), amounting to ₹2,10,000, and for bNII, it is 72 lots (7,200 shares), amounting to ₹10,08,000.
Unistone Capital Pvt.Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue.
Refer to Global Surfaces IPO RHP for detailed Information.
IPO Open
Mon, Mar 13, 2023
IPO Close
Wed, Mar 15, 2023
Issue Price
₹140 per share
Market Cap (Pre-IPO)
₹593.35 Cr
| IPO Date | 13 to 15 Mar, 2023 |
| Listed on | Thu, Mar 23, 2023 |
| Face Value | ₹10 per share |
| Price Band | ₹133 to ₹140 |
| Issue Price | ₹140 per share |
| Lot Size | 100 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 1,10,70,000 shares (agg. up to ₹155 Cr) |
| Fresh Issue | 85,20,000 shares (agg. up to ₹119 Cr) |
| Offer for Sale | 25,50,000 shares of ₹10 (agg. up to ₹36 Cr) |
| Share Holding Pre Issue | 3,38,61,818 shares |
| Share Holding Post Issue | 4,49,31,818 shares |
| BSE Script Code / NSE Symbol | 543829 / GSLSU |
| ISIN | INE0JSX01015 |
Global Surfaces IPO offers total 1,10,70,000 shares. Out of which 55,35,000 (50.00%) allocated to QIB, 22,14,000 (20.00%) allocated to QIB (Ex- Anchor), 16,60,500 (15.00%) allocated to NII 38,74,500 (35.00%) allocated to RII and 33,21,000 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 55,35,000 (50.00%) | NA |
| − Anchor Investor Shares Offered | 33,21,000 (30.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 22,14,000 (20.00%) | NA |
| NII (HNI) Shares Offered | 16,60,500 (15.00%) | NA |
| − bNII > ₹10L | 11,07,000 (10.00%) | 738 |
| − sNII < ₹10L | 5,53,500 (5.00%) | 369 |
| Retail Shares Offered | 38,74,500 (35.00%) | 38,745 |
| Total Shares Offered | 1,10,70,000 (100.00%) |
Investors can bid for a minimum of 100 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 100 | ₹14,000 |
| Retail (Max) | 14 | 1,400 | ₹1,96,000 |
| S-HNI (Min) | 15 | 1,500 | ₹2,10,000 |
| S-HNI (Max) | 71 | 7,100 | ₹9,94,000 |
| B-HNI (Min) | 72 | 7,200 | ₹10,08,000 |
Global Surfaces IPO raises ₹46.49 crore from anchor investors. Global Surfaces IPO Anchor bid date is March 10, 2023.
📝 Anchor Investors Letter (PDF)
| Bid Date | Fri, Mar 10, 2023 |
| Shares Offered | 33,21,000 |
| Anchor Portion (₹ Cr.) | 46.49 |
| Anchor lock-in period end date for 50% shares (30 Days) | Wed, Apr 19, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | Sun, Jun 18, 2023 |
Incorporated in 1991, Global Surfaces Limited is engaged in processing natural stones and manufacturing engineered quartz.
Natural stones are produced through complex geological processes and forms various products like granite, limestone, marble, slate, quartzite, onyx, sandstone, travertine, and others that are quarried from the earth.
The company has two units, one located at RIICO Industrial Area, Bagru Extn, Bagru, Jaipur, Rajasthan, and the other at Mahindra World City SEZ, Jaipur, Rajasthan. Both units engage in the processing and manufacturing of the products.
The products of Global Surfaces Limited have applications in flooring, wall cladding, countertops, cut-to-size, and other items. The products are widely used for commercial and residential industries and are sold within and outside India.
| Period Ended | 30 Sep 2022 | 31 Mar 2022 | 31 Mar 2021 | 31 Mar 2020 |
|---|---|---|---|---|
| Assets | 280.20 | 236.48 | 159.00 | 128.73 |
| Total Income | 99.25 | 198.36 | 179.00 | 165.78 |
| Profit After Tax | 13.59 | 35.63 | 33.93 | 20.96 |
| NET Worth | 148.93 | 134.04 | 98.43 | 64.48 |
| Reserves and Surplus | 115.07 | 100.17 | 91.98 | 58.03 |
| Total Borrowing | 50.52 | 37.28 | 37.46 | 53.49 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Investment in our wholly owned subsidiary, Global Surfaces FZE for part-financing its capital expenditure requirements in relation to the setting up of manufacturing facility for engineered quartz at The Jebel Ali Free Zone, Dubai, United Arab Emirates (“UAE”) (“Proposed Facility”) | 90.00 |
| 2 | General corporate purposes | 11.58 |
| KPI | |
|---|---|
| ROE | 26.59 |
| ROCE | 20.85 |
| Debt/Equity | 0.28 |
| RoNW | 32.51 |
| PAT Margin | 18.72% |
| EBITDA Margin | 21.97% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 10.52 | |
| P/E (x) | 21.84 | |
| Promoter Holding | 99.35% | |
| Market Cap | ₹593.35 Cr. |
The Global Surfaces IPO is subscribed 12.21 times on March 15, 2023 7:02:00 PM (Day 3). The public issue subscribed 5.12 times in the retail category, 8.95 times in the QIB category, and 33.1 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 8.95 | 22,14,000 | 1,98,25,200 |
| NII | 33.1 | 16,60,500 | 5,49,62,600 |
| bNII (bids above ₹10L) | 35 | 11,07,000 | 3,87,50,100 |
| sNII (bids below ₹10L) | 29.29 | 5,53,500 | 1,62,12,500 |
| Retail | 5.12 | 38,74,500 | 1,98,26,600 |
| Total | 12.21 | 77,49,000 | 9,46,14,400 |
Total Application : 1,91,774
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to BRLM (including underwriting commission) and Legal Advisor to the Offer | 11.00 |
| 2 | Advertising, selling and marketing expenses | 9.15 |
| 3 | Fees to the Registrar to the Offer | 0.50 |
| 4 | Fees payable to the Regulators including stock exchange | 0.80 |
| 5 | Printing and distribution of Issue stationary | 0.10 |
| 6 | Brokerage and selling commission payable to Syndicate¹ | 0.15 |
| 7 | Brokerage and selling commission payable to Registered Brokers² | 0.15 |
| 8 | Processing fees to SCSBs for ASBA Applications procured by the members of the Syndicate or Registered Brokers and submitted with the SCSBs³ | 0.20 |
| 9 | Processing fees to Issuer banks for UPI mechanism w.r.t application Forms procured by the members of the Syndicate, Registered Brokers, RTAs or the CDPs and submitted to them⁴ | 0.20 |
| 10 | Others (Bankers to the Offer, Auditor's fees, etc.) | 0.75 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹140.00 | ₹140.00 |
| Open | ₹163.00 | ₹164.00 |
| Low | ₹156.30 | ₹156.10 |
| High | ₹171.15 | ₹172.20 |
| Last Trade | ₹170.90 | ₹171.05 |
Lead Manager Reports
Global Surfaces IPO is a main-board IPO of 1,10,70,000 equity shares of the face value of ₹10 aggregating up to ₹155 Crores. The issue is priced at ₹140 per share. The minimum order quantity is 100.
The IPO opens on Mon, Mar 13, 2023, and closes on Wed, Mar 15, 2023.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Global Surfaces IPO using UPI as a payment gateway. Zerodha customers can apply in Global Surfaces IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Global Surfaces IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Global Surfaces IPO opens on Mon, Mar 13, 2023 and closes on Wed, Mar 15, 2023.
Global Surfaces IPO lot size is 100, and the minimum amount required for application is ₹14,000.
You can apply in Global Surfaces IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Global Surfaces IPO will be done on Monday, March 20, 2023, and the allotted shares will be credited to your demat account by Wed, Mar 22, 2023. Check the Global Surfaces IPO allotment status.
The Global Surfaces IPO listing date is on Thu, Mar 23, 2023.
