-- / 100 shares
IPO Details
Issue Date
--
Investment/lot
--
Price Range
140
Lot Size
100
IPO Size
₹ 154.98 Cr
IPO Listing Details
Listing On
23 Mar'23
Issue Price
--
Listed Price
₹ 164
Retail Gain/Listing Gain
▲17.14%
IPO Timeline
Company Background
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.
Risk Factors
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.
Key Strategies
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
Global Surfaces Limited Financials
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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Global Surfaces Ltd IPO FAQs
When is Global Surfaces Ltd IPO listing date?
Global Surfaces Ltd will list on 2023-03-23.
What is the issue size of Global Surfaces Ltd IPO?
154.98 is the issue size of Global Surfaces Ltd IPO.
What is the price band of the Global Surfaces Ltd IPO?
The price band of Global Surfaces Ltd IPO is ₹140 to ₹0.
What is Global Surfaces Limited IPO?
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.
Who is the Registrar of Global Surfaces Limited IPO?
Bigshare Services Private Limited is the registrar for this IPO.
Where can I read more about Global Surfaces Limited business?
You can read more about Global Surfaces Limited and its IPO from the company’s red herring prospectus (RHP) here.
