About Company
Incorporated in 1991, Global Surfaces Limited processes natural stones and manufactures engineered quartz.
Natural stone harvesting involves a complex geographical process and is desired for uniqueness, aesthetic appeal, texture, color, and composition. On the other hand, granite is used widely as a kitchen countertop. The products from Global Surface have broad 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.
The company has two units, one 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 company exports to the United States of America, Canada, Australia, and the Middle East, deriving 99% of its revenue from the export business.
| Minimum Investment ₹14,000 / 1 Lots ( 100 Shares ) | Maximum Investment ₹196,000 / 14 Lots ( 1400 Shares ) |
| Price Range ₹133 – ₹140 | Issue Size ₹154.98 Cr |
| Investor category and sub category Qualified Institutional Buyers | Non-Institutional Investors | Retail Individual Investors | Retail Discount To be announced |
IPO Dates
Important dates with respect to IPO allotment and listing
| IPO Open Date Mar 13, 2023 | IPO Close Date Mar 15, 2023 |
| IPO Allotment Date Mar 20, 2023 | Initiation Of Refunds Mar 21, 2023 |
| Credit Of Shares To Demat Account Mar 22, 2023 | IPO Listing Date Mar 23, 2023 |
IPO Subscription Status Live
| Investor Category | Subscription (Times) |
|---|---|
| Qualified Institutions Buyer | 0.06 |
| Non-Institutional Buyers | 2.86 |
| Retail Investors | 1.81 |
| Employees | [.] |
| Others | [.] |
| Total | 1.53 |
IPO Subscription Details
| Date | QIB | NII | Retail | Total |
|---|---|---|---|---|
| Day 1 Mar 13, 2023 | 0.01 | 0.57 | 0.61 | 0.43 |
| Day 2 Mar 14, 2023 | 0.04 | 1.65 | 1.45 | 1.09 |
| Day 3 Mar 14, 2023 | 0.06 | 2.86 | 1.81 | 1.53 |
Global Surfaces Ltd. IPO Objective
- The fund raised by selling fresh equity shares will be utilized to invest in the wholly owned subsidiary and part financing constructing another manufacturing unit in the Jebel Ali Free Zone, Dubai, United Arab Emirates (UAE).
- General corporate purposes.
Why should you invest in Global Surfaces Ltd. IPO?
Here are your top reasons for investing in the IPO:
- They have transitioned from a single-stone to a multi-stone manufacturing company, offering a diversified product portfolio.
- Exports constitute 99.13% of their operating revenue in FY22. In international markets, they primarily cater to the United States of America, Canada, Australia, and the Middle East.
- They have dedicated in-house R&D teams for developing new products and designs to cater to the diversified customer base.
IPO Financials
| Parameters | Period Ending on September 30, 2022 (₹ lakhs) | Year ending on 31st March, 2022 (₹ lakhs) | Year ending on 31st March, 2021 (₹ lakhs) |
|---|---|---|---|
| Revenue from operation | 1903.13 | 1753.71 | 1632.91 |
| Profit After Tax | 356.34 | 339.32 | 209.64 |
| EBITDA | 418.04 | 474.33 | 403.16 |
| EBITDA Margin | 21.97 | 27.05 | 24.69 |
| EPS (Basic) | 10,52 | 10.02 | 6.59 |
| Period Ended | Year ending on As on 31st March, 2022 | Year ending on As on 31st March, 2021 | Year ending on As on 31st March, 2020 |
| Current Asset | 1,161 | 876.77 | 589.60 |
| Current Liabilities | 491.21 | 528.86 | 499.86 |
Know before investing
Strengths
- They have robust financials with revenue from operation and profit recording growth in the past three fiscals.
- The company is expanding to new international markets.
- They have robust financials with revenue from operation and profit recording growth in the past three fiscals.
Risks
- The top ten customers contribute the majority of revenue.
- They don’t have long-term agreements with their customers and suppliers, which can impact future profitability.
- It is an export-driven business. Hence, international market conditions can directly impact the company’s profitability.
Click here to Apply Global Surface Limited IPO
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