Global Surfaces IPO fully subscribed, last day to bid today. Latest GMP
Global Surfaces Ltd’s initial public offering (IPO) was 1.09 times fully subscribed on the second day of the offering on Tuesday. The issue received bids for 84.23 lakh shares versus 77.49 lakh shares in the offering which closes on Wednesday 15th March. The company has set a price range of €133-140 per share.
Global Surfaces Ltd’s initial public offering (IPO) was 1.09 times fully subscribed on the second day of the offering on Tuesday. The issue received bids for 84.23 lakh shares versus 77.49 lakh shares in the offering which closes on Wednesday 15th March. The company has set a price range of €133-140 per share.
According to market watchers, Global Surfaces shares are trading at a premium (GMP) of €14 today on the gray market. The company’s shares are expected to list on the leading stock exchanges BSE and NSE next week on Thursday 23rd March 2023.
According to market watchers, Global Surfaces shares are trading at a premium (GMP) of €14 today on the gray market. The company’s shares are expected to list on the leading stock exchanges BSE and NSE next week on Thursday 23rd March 2023.
At the higher end of the price range, the company is likely to pick up €155 crore from initial share sale. Global Surfaces, which is engaged in the processing of natural stones and the manufacture of engineered quartz, announced on Friday that it had been collecting €46.49 crore from anchor investors ahead of first stock sale.
At the higher end of the price range, the company is likely to pick up €155 crore from initial share sale. Global Surfaces, which is engaged in the processing of natural stones and the manufacture of engineered quartz, announced on Friday that it had been collecting €46.49 crore from anchor investors ahead of first stock sale.
The Global Surfaces IPO includes a new issuance of 85.20 lakh shares and an offering to sell (OFS) of up to 25.5 lakh shares by promoters Mayank Shah and Sweta Shah. The funds raised through new issues will be used to build the Company’s planned facility – Global Surfaces FZE – in Dubai.
The Global Surfaces IPO includes a new issuance of 85.20 lakh shares and an offering to sell (OFS) of up to 25.5 lakh shares by promoters Mayank Shah and Sweta Shah. The funds raised through new issues will be used to build the Company’s planned facility – Global Surfaces FZE – in Dubai.
“The Company’s operating revenue is derived primarily from export sales with approximately 98% of its operating revenue for the period ended September 30, 2022 derived from exports. The company reported a 21.97% EBITDA margin for fiscal 2022, but its top and line growth has been lackluster. The P/E ratio required in the upper band of the issue price, based on the key figures for fiscal year 22, is around 16 times after taking into account the new issue. However, a small output size can generate interest in its subscription,” said Abhay Doshi, founder of UnlistedArena.
“The Company’s operating revenue is derived primarily from export sales with approximately 98% of its operating revenue for the period ended September 30, 2022 derived from exports. The company reported a 21.97% EBITDA margin for fiscal 2022, but its top and line growth has been lackluster. The P/E ratio required in the upper band of the issue price, based on the key figures for fiscal year 22, is around 16 times after taking into account the new issue. However, a small issue size can generate interest in subscription,” said Abhay Doshi, founder of UnlistedArena.
Global Surfaces Limited is engaged in the processing of natural stone and the manufacture of engineered quartz. The company has 2 production sites in Rajasthan.
Global Surfaces Limited is engaged in the processing of natural stone and the manufacture of engineered quartz. The company has 2 production sites in Rajasthan.