Incorporated in 1991, Global Surfaces Limited is engaged in processing natural stones and manufacturing engineered quartz.
Natural stones are produced through complex geological processes and forms various products like granite, limestone, marble, slate, quartzite, onyx, sandstone, travertine, and others that are quarried from the earth.
The company has two units, one located 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 products of Global Surfaces Limited have 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.
| Purpose | Amount (₹ Cr) |
|---|---|
| 1 Investment in our wholly owned subsidiary, Global Surfaces FZE for part-financing its capital expenditure requirements in relation to the setting up of manufacturing facility for engineered quartz at The Jebel Ali Free Zone, Dubai, United Arab Emirates (“UAE”) (“Proposed Facility”) | ₹90 |
| 2 General corporate purposes | ₹12 |
| Metric | 31-Mar-20 | 31-Mar-21 | 31-Mar-22 |
|---|---|---|---|
| Total Assets | 129 | 159 | 236 |
| Revenue | 166 | 179 | 198 |
| PAT | 21 | 34 | 36 |
| Net Worth | 64 | 98 | 134 |
| Reserves | 58 | 92 | 100 |
| Total Borrowing | 53 | 37 | 37 |
| Category | Sub (x) | Offered | Bid For |
|---|---|---|---|
| QIB | — | 5,535,000 (50%) | — |
| NII / HNI | — | 1,660,500 (15%) | — |
| Retail (RII) | — | 3,874,500 (35%) | — |
| Total | — | 11,070,000 (100%) | — |
* Amount calculated at upper price band (₹140) · ** Total includes all investor categories
- 1 Initiation of Refund 21 Mar 2023
- 2 Credit of Shares to Demat 22 Mar 2023
- 3 Lock-in Period (30%) April 19, 2023
- 4 Lock-in Period (50%) June 18, 2023
- Retail allocation is good at 35% of the total offering.
- HNI/NII demand is good at 15%.
- Institutional (QIB) interest is strong at 50%.
- The IPO P/E of 22x reflects a good valuation relative to typical market ranges.
This IPO shows moderate investor interest. Review financial details and compare valuation with industry peers before investing.
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