Global Surfaces was incorporated on n August 23, 1991, as Swastic Niwas. The company is engaged in the business of processing natural stones and manufacturing engineered quartz.
| Bidding Dates |
|---|
| 13 Mar 2023 - 15 Mar 2023 |
| Subscription |
|---|
| 12.21x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,000 | 1 | 14 | 100 | 11.1 M | ₹133 - ₹140 | 73.88 % | ₹1472.3 M - ₹1549.8 M | RHP DOC |
Global Surfaces IPO SUBSCRIPTION STATUS
15 Mar '23Global Surfaces IPO overall subscription rate was 12.21 times the total available shares
Global Surfaces IPO retail subscription rate was 5.12 times in the retail segment
Global Surfaces IPO non-institutional investor subscription rate was 33.1 times in the non-institutional investor category
Global Surfaces IPO Qualified Institutional Bidder subscription rate was 8.95 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
15 Mar 2023 (Day 3) | 5.12x | 33.1x | 8.95x |
14 Mar 2023 (Day 2) | 1.47x | 1.66x | 0.04x |
13 Mar 2023 (Day 1) | 0.6x | 0.57x | 0.01x |
Global Surfaces FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| H1FY23 | 135.9 | 979.8 | 201.3 | -157.7 | 19.6% |
| FY22 | 356.3 | 1,903.1 | 281.9 | 183.6 | 22.0% |
| FY21 | 339.3 | 1,753.7 | 321.4 | 243.9 | 27.1% |
| FY20 | 209.6 | 1,632.9 | 536.9 | 439.1 | 24.7% |
Global Surfaces IPO SUBSCRIPTION STATUS DETAILS
Global Surfaces had 11.1 M shares on offer
Global Surfaces IPO offer price was in the range ₹133 - ₹140
Global Surfaces IPO minimum Investment was ₹14000
Global Surfaces IPO issue size was ₹ 1472.3 M - ₹ 1549.8 M
Global Surfaces had a minimum lot size of 100 Shares per application
Global Surfaces NUMBER OF SHARES ON OFFER
Global Surfaces IPO IMPORTANT DATES
| Issue Open Date | 13 Mar 2023 |
| Issue close Date | 15 Mar 2023 |
| Allotment Date | 20 Mar 2023 |
| Refund Date | 21 Mar 2023 |
| Demat Account Credit Date | 22 Mar 2023 |
| Listing Date | 23 Mar 2023 |
| Listing on Exchange(s) | NSE and BSE |
| Global Surfaces Allotment Status | Exchange |
Global Surfaces IPO subscription opened on 13 Mar 2023, and closed on 15 Mar 2023
IPO allotment for Global Surfaces was finalized on Monday, 20 Mar 2023
IPO listing for Global Surfaces was on NSE and BSE on Thursday, 23 Mar 2023
Global Surfaces IPO LISTING GAINS
| Issue Price (adjusted) | 140.0 |
| Listing Open Price | 164.0 |
| Listing Close Price | 171.1 |
| Listing Gain% | 17.1% |
| Current Gain% | -78.9% |
Global Surfaces Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Global Surfaces Ltd. | 29.6 | 125.2 | -4.2 | 0.6 | 0.6 | -11.2 | -5.6 | 254.9 | 18.6 | -30.4 | -6.6 | -7 | -7.6 |
| Sheela Foam Ltd. | 694 | 7579.3 | 35.3 | 0.1 | 1.9 | 4.9 | 3.1 | 3875.1 | 8.5 | 159.6 | 66.1 | 19.6 | 273.1 |
| Greenlam Industries Ltd. | 247.6 | 6316.2 | 68 | 0.4 | 2 | 4.8 | 1.9 | 3054.3 | 18.4 | 56.3 | -19.3 | 3.6 | 172.9 |
| Responsive Industries Ltd. | 169 | 4505.7 | 30.4 | -1.2 | 3.2 | 9.5 | 8 | 1404.2 | -1.6 | 148.4 | -25.4 | 5.6 | -25.4 |
| Wakefit Innovations Ltd. | 123.1 | 4078.4 | 21.1 | 2.6 | 16.7 | 10.8 | 1534.4 | 17.5 | 189.2 | 640.4 | 5.8 | ||
| Euro Pratik Sales Ltd. | 299 | 3055.8 | 35.5 | 1.7 | 8.2 | 24.9 | 19.4 | 343 | 17.7 | 77.1 | 0.5 | 8.4 | 20.4 |
Global Surfaces INFORMATION ON IPO ISSUE
About Global Surfaces
Global Surfaces was incorporated on n August 23, 1991, as Swastic Niwas. The company is engaged in the business of processing natural stones and manufacturing engineered quartz.
Object of the Issue
- Investment in the 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 - PROMOTERS
| Name |
|---|
| Mayank Shah |
Global Surfaces Book Running Lead Manager
Unistone Capital Private Limited
mb@unistonecapital.com
Global Surfaces Registrar to the Offer
Bigshare Services Private Limited
ipo@bigshareonline.com
Global Surfaces Strengths
Consistent growth
The company has grown from a single-category to a multi-category stone manufacturing company. Its revenue from operations has registered a CAGR of 21% in the past 11 years
Wide product portfolio
The company started its business activities by processing natural stones and has since branched out to manufacturing engineered quartz which has enabled it to diversify its product portfolio manifold.
Presence in international markets
Its export business constitutes 99.13% of the company's operating revenue in FY22. In the recent past, the company has sold its products in the USA, Canada, Australia and West Asia
Global Surfaces Risks
Depends on a few customers
The company depends on a few customers for a major part of its revenues and it does not enter into long-term arrangements with these customers
Dependent on one geographical location
A major portion of the revenue is derived from exports to the USA and any adverse developments in this market or restrained economic or political relations of India with the USA could adversely affect the business
Legal proceedings
The company, its promoter, promoter group members and the directors are party to certain legal proceedings. Any adverse outcome in such proceedings may have an adverse impact on the business
IPO FAQs
This IPO consists of an offer for sale of up to Rs 35.7 crore, of 2,550,000 shares. It also consists of a fresh issue of Rs 119.3 crore.
The promoter of the company is Mayank Shah.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 133.0 - 140.0.
The IPO application opens on Mar 13, 2023 and closes on Mar 15, 2023.
The minimum lot size for the IPO is 100. The maximum lot size for the IPO is 1400.
For all category investors, the minimum application amount for this IPO is Rs. 14,000.0, the maximum value for this IPO is Rs 196,000.0.
This IPO will be allotted on Mar 20, 2023.
The refund will be credited to your account on Mar 21, 2023.
The allotted shares will be credited to your demat on Mar 22, 2023.
Global Surfaces Ltd.’s shares listed on the stock exchanges on Mar 23, 2023.