Global Surfaces IPO

Global Surfaces IPO | Review

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Global Surfaces Limited has come up with an initial public offer (IPO). It will open on March 13-15, 2023 at Rs.133-140 a share. The IPO issue size is around Rs.154.98 crores. The minimum bid will be for 100 shares and in its multiples thereafter.


Global Surfaces Limited was incorporated in the year 1991. It is engaged in the business of processing natural stones and manufacturing engineered quartz. The company has two units, one located at RIICO Industrial Area, Rajasthan and the other at Mahindra World City SEZ, Rajasthan for processing and manufacturing of its products. The company’s products have applications in flooring, wall cladding, countertops, cut-to-size and other items. These products are used in both commercial and residential industries and are sold within and outside India.

Approximately 99% of revenues of Global Surfaces from operations have been derived from exports. Its business model is aimed at consistently expanding its product portfolio by developing new designs. The company is focused on exporting its products and has exported to the United States of America, Canada, Australia and the Middle East.



Mr. Mayank Shah – 73.55%Mrs. Sweta Shah – 10.48%

Promoter Holding

Pre-Issue Shareholding – 99.35%Post-Issue Shareholding – 

Strength & Weakness

Consistent GrowthDependent on a few customers
Wide product portfolio & multiple designsNo long-term agreements with suppliers
Established presence in international marketsMajor portion of revenues from the US
Experienced and result-oriented PromoterWorking capital-intensive business
Young and experienced management teamOffice premises on a leasehold basis
Effective quality checksRelated party transactions
R&D set up for new product developmentDependent on Promoter & Directors


Pokarna LtdARO Granite Industries
Esprit Stones Pvt LtdJohnson Marble & Quartz Ltd
Classic Marble Company

Company Financials

YearRevenue (in Crore)Profit (in Crore)

Objects of Issue

1) The Selling Shareholders will be entitled to the proceeds from the Offer for Sale.

2) Investment in a 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.

3) General corporate purposes.

Global Surfaces IPO Lot Size

Retail (Min)1100Rs.14,000
Retail (Max)141400Rs.1,96,000
S-HNI (Min)151,500Rs.2,10,000
B-HNI (Max)727,200Rs.10,08,000

Global Surfaces IPO Details

IPO Opening Date March 13, 2023
IPO Closing Date March 15, 2023
Face Value Rs.10 per Equity Share
IPO Price Rs.133-140 per share
Market Lot 100 shares
Minimum Order Quantity 100 shares
Listing At NSE, BSE
Fresh Issue85,20,000 shares
Offer for Sale25,50,000 shares
Issue Size Up to Rs.154.98 Crore
QIB Shares Offered 50% of the offer
Retail Shares Offered 35% of the offer 
NII/HNI Shares Offered 15% of the offer

Global Surfaces IPO Timetable

IPO DateMarch 13-15, 2023
Allotment DateMarch 20, 2023
Initiation of RefundsMarch 21, 2023
Credit of share to Demat a/cMarch 22, 2023
IPO Listing DateMarch 23, 2023

Allotment Status

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About the author

Shankar Awale

Hey! I am Shankar Awale an aspiring blogger with an obsession for all things of Finance. This blog is dedicated to help people to learn about Financial Knowledge in easy language.

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