IPO Details

Issue Date




Price Range


Lot Size


IPO Size

₹ 154.98 Cr

IPO Listing Details

Listing On

23 Mar'23

Issue Price


Listed Price

₹ 164

Retail Gain/Listing Gain


Start date

End date

Allotment of bids

Refund Initiation

Listing on exchange

Global Surfaces Limited is engaged in the business of processing natural stones and manufacturing engineered quartz.

Natural stones are produced by complex geological processes, and include a number of products such as granite, limestone, marble, slate, quartzite, onyx, sandstone, travertine, and others that are quarried from the earth. Natural stones are widely known for their uniqueness, aesthetic appeal, texture, colour, and composition as no two natural stones are the same.

Engineered quartz on the other hand, is an example of engineered stone used in the countertop industry, which is a composite material made up of crushed stone bonded by an adhesive. For instance, for countertops, the slabs are made from quartz crystals bonded with a resin binder.

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 - for the processing and manufacturing of products.

Prior to the acquisition of Unit 1 in 2004, the company was engaged in the real estate construction business - an area which the company has since ceased to undertake. From FY 2017-18 onwards, the company has further diversified its business into manufacturing of engineered quartz.

The company’s business model is aimed at consistently expanding its product portfolio by developing new designs. It constantly engages with customers through marketing and promotional activities and industry specific events. The sales team works closely with the customers to obtain their insights and feedback about the upcoming trends in the industry which enables the company to develop and improve the products to fulfil the tastes and demands of the market.

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Consistent Growth
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Established presence in international markets
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Effective quality checks thereby reducing loss
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Here are a few Risk Factors Global Surfaces Limited has for its business:

  • Major sales concentrated to a few top customers
  • No long-term agreements made with suppliers for raw materials
  • Major portion of the company’s revenue are derived from exports to the USA. Any adverse developments in the India-USA relationship, could adversely affect the company’s business.

Here are a few strategies Global Surfaces Limited has for its business:

  • Increasing its global footprint and augmenting growth in current geographies
  • Setting up strategically located manufacturing facility
  • Continue to add to product portfolio by introducing new designs

And finally here’s a look at key financials of Global Surfaces Limited.

Particulars (in Rs. million)

Particulars (in Rs. million)

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Top Global Surfaces Ltd IPO FAQs

Global Surfaces Ltd will list on 2023-03-23.

154.98 is the issue size of Global Surfaces Ltd IPO.

The price band of Global Surfaces Ltd IPO is ₹140 to ₹0.

The Global Surfaces Limited IPO has an issue size of Rs. 154.98 crores. The IPO opens for subscription on 13th March and ends on 15th March.

Bigshare Services Private Limited is the registrar for this IPO.

You can read more about Global Surfaces Limited and its IPO from the company’s red herring prospectus (RHP) here.

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