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.
Overview
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.
Website – http://www.globalsurfaces.in/
Promoters
| Mr. Mayank Shah – 73.55% | Mrs. Sweta Shah – 10.48% |
Promoter Holding
| Pre-Issue Shareholding – 99.35% | Post-Issue Shareholding – |
Strength & Weakness
| Strengths | Weaknesses |
| Consistent Growth | Dependent on a few customers |
| Wide product portfolio & multiple designs | No long-term agreements with suppliers |
| Established presence in international markets | Major portion of revenues from the US |
| Experienced and result-oriented Promoter | Working capital-intensive business |
| Young and experienced management team | Office premises on a leasehold basis |
| Effective quality checks | Related party transactions |
| R&D set up for new product development | Dependent on Promoter & Directors |
Competitors
| Pokarna Ltd | ARO Granite Industries |
| Esprit Stones Pvt Ltd | Johnson Marble & Quartz Ltd |
| Classic Marble Company |
Company Financials
| Year | Revenue (in Crore) | Profit (in Crore) |
| 31-Mar-2020 | 165.78 | 20.96 |
| 31-Mar-2021 | 179.00 | 33.93 |
| 31-Mar-2022 | 198.36 | 35.63 |
| 30-Sep-2022 | 99.25 | 13.59 |
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
| Application | Lot | Shares | Amount |
| Retail (Min) | 1 | 100 | Rs.14,000 |
| Retail (Max) | 14 | 1400 | Rs.1,96,000 |
| S-HNI (Min) | 15 | 1,500 | Rs.2,10,000 |
| B-HNI (Max) | 72 | 7,200 | Rs.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 Issue | 85,20,000 shares |
| Offer for Sale | 25,50,000 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 Date | March 13-15, 2023 |
| Allotment Date | March 20, 2023 |
| Initiation of Refunds | March 21, 2023 |
| Credit of share to Demat a/c | March 22, 2023 |
| IPO Listing Date | March 23, 2023 |
Allotment Status
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