- Date : 13/03/2023
- Read: 2 mins
Global surfaces raised Rs. 46.49 crores through the anchor book on March 10.
Global surfaces raised Rs. 46.49 crores through the anchor book on March 10. It has its initial public offering (IPO) launch next week, and the news comes just ahead of it. The anchor book found itself with three anchor investors. These three anchor investors were:
- VPK Global Ventures Fund - Scheme 1
- Saint Capital Fund
- Leading Light Fund VCC - The Triumph Fund
The company stated that it had allocated a total of 33.21 lakh equity shares to the anchor investors. It said it finalized the decision after careful consultation with its merchant bankers. The price was decided at a premium of Rs. 130/share at Rs. 140/share.
Also Read: Everything you must know about the Global Surfaces IPO before investing.
Who Got What?
VPK Global Ventures Fund - Scheme receives shares amounting to Rs. 5 crores. It got 3.57 lac shares. Saint Capital Fund received shares worth Rs. 14.49 crores. It got 10.35 lac shares. Leading Light Fund VCC - The Triumph Fund received shares amounting to Rs. 27 crores. It got 19.28 lac shares.
Global Surfaces has its public issue with an Rs. 133-140 price band available for subscription next week. March 13 is when the IPO launches. The offer will be worth Rs. 155 crores and close after two days on March 15. It will comprise an OFS (offer of sale) worth Rs. 35.70 crore (selling shareholders) and a fresh share issue totaling Rs. 119.28 crores.
Also Read: What is the role of India in the global supply chain?
Global Surfaces is a company involved in processing natural stones and plans to use the proceeds from the initial public offering to invest in its totally-owned subsidiary called, Global Surfaces FZE. It will partly finance the capital expenditure. It plans to set up the engineered quartz manufacturing facility in UAE Dubai at The Jebel Ali Free Zone.
