- Date : 10/03/2023
- Read: 3 mins
The subscription for Global Surfaces IPO will open on March 13.
The subscription for Global Surfaces IP will open on March 13. The company wants to raise Rs. 155 crores through its IPO. It plans to use the net proceeds from the fresh issue of shares for its capital expenditure, investment in a subsidiary, building a manufacturing facility, and other general corporate purposes.
Also Read: This is the first IPO to hit the Indian markets in FY23. Learn more.
- IPO Date: March 13 - Mar 15
- Price Band: Rs. 133-140
- Issue Size: Rs. 155 crores (Fresh Issue of 8,520,000 equity shares & OFS of 2,550,000 equity shares)
- Reservation: NII 15%, Retail 35%, QIB 50%
- Minimum Investment Amount: Rs. 14,000
- Bid Lot: 100 and in multiples thereof
About Global Surfaces Limited
The company has been in business for over three decades and deals in engineered quartz manufacturing and natural stone processing. It has two units in Rajasthan's Jaipur. The products have an application in cut-to-size, countertops, wall cladding, flooring, and others. Its products are broadly used for residential and commercial industries that are used and sold within India and internationally. The Middle East, Australia, Canada, and the USA are their export destinations. Its product range includes engineered quartz and stones, quartzite, granite, marble, and natural stones. Engineered and natural stones can be divided into segments depending on their region, end-use industries, applications, and type.
Financials of Global Surfaces Limited
Revenue: -
- FY20: Rs. 163.29 crores
- FY21: Rs. 175.39 crores
- FY22: Rs. 190.31 crores
The revenue has seen constant growth.
EBITDA: -
- FY20: Rs. 40.32 crores (Margin was 24.69%)
- FY21: Rs 47.43 crores (Margin was 27.05%)
- FY22: Rs. 41.80 crores (Margin was 21.97%)
The company reported a profit of Rs. 20.96 crore, Rs. 33.93 crores, and Rs. 35.63 crore, respectively. It has had an Rs. 9.63 average EPS and 30.20% average RoNW for the last three years. The debt-to-equity ratio reduced YoY over the previous three years.
Also Read: How are IPO prices decided? Do you know? Learn here.
Global Surfaces Ltd. has grown consistently, growing from one category to multi categories. It has multiple designs and a broad product range. The company started processing natural stones and then branched into manufacturing, enabling them to diversify. It believes in quality products and has a growing export business. The US is the primary destination for its export business.
