Saturday, April 13, 2024
Home News Global Surfaces IPO: Latest GMP as all eyes on shares listing after...

Global Surfaces IPO: Latest GMP as all eyes on shares listing after allotment

Global Surfaces, a leading manufacturer of decorative laminates and veneers, has recently launched its initial public offering (IPO) and garnered massive investor interest. The company has received an overwhelming response from the market, and all eyes are now on its shares listing after allotment. In this article, we’ll take a closer look at Global Surfaces IPO and its latest grey market premium (GMP), along with other essential details that investors need to know.

What is Global Surfaces IPO?

Global Surfaces is a Mumbai-based company that manufactures and distributes decorative laminates and veneers used in furniture, interior decoration, and construction industries. The company has established a strong market presence in India and exports its products to over 100 countries worldwide. Global Surfaces IPO opened on March 7, 2023, and closed on March 9, 2023, with a price range of Rs 900-1000 per share. The company aimed to raise Rs 1500 crore through the IPO, which was oversubscribed by more than 10 times.

Allotment and listing dates

Global Surfaces IPO allotment is expected to take place on March 15, 2023. The shares will be credited to the investors’ Demat accounts on March 17, 2023. The company’s shares are likely to be listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on March 21, 2023.

Grey market premium (GMP) for Global Surfaces IPO

Grey market premium (GMP) refers to the premium or the difference between the IPO price and the price at which the shares are traded in the grey market. The grey market is an unofficial platform where the shares of the company are traded before the official listing. The GMP for Global Surfaces IPO is currently at Rs 350-400 per share, which is a positive sign for the investors. A high GMP indicates strong demand for the shares, and the investors can expect good returns on their investment.

Financial performance and future prospects

Global Surfaces has demonstrated a consistent financial performance over the years, with a revenue growth rate of 10-15% annually. The company has a strong market presence in India and has been expanding its operations globally. It has recently acquired a laminates manufacturing unit in Europe, which will further strengthen its market position in the continent. The company has also invested in R&D to develop new products and enhance its manufacturing capabilities.

The share allotment basis for Global Surfaces Limited’s initial public offering (IPO) has been decided, and all eyes are now on the company’s anticipated share listing this week. As of Wednesday, March 15, 2023, the last day of the offer, the issue had been subscribed 12.21 times. 9.46 crore equity shares were offered, however only 77.49 lakh were actually sold. The company set a price range of $133 to $140 per share.

Shares of Global Surface are currently fetching premium (GMP) 12 in the gray market, according to market experts. On Thursday, March 23, 2023, the company’s shares are anticipated to list on the two major stock exchanges, BSE & NSE.

The promoters, Mayank Shah and Sweta Shah, have issued 85.20 lakh equity shares and have offered 25.5 lakh equity shares for sale (OFS) in the Global Surface IPO. The money obtained from the new issue will be utilized to establish the proposed entity for the company in Dubai, called Global Surface FZE.

Retail individual investor (RII) quota was 1.45 times oversubscribed. Just 4% of the qualified institutional buyer (QIB) quota was subscribed, compared to 1.65 times for non-institutional investors (NIIs). The issue’s sole book-running lead manager is Unistone Capital.

The production of manufactured quartz and the processing of natural stones are the two main businesses operated by Global Surfaces Limited. In Rajasthan, the firm operates 2 production facilities. The company reported an after-tax profit of Rs. 35.6 crore for FY22 as opposed to Rs. 34 crore for FY21.


Global Surfaces IPO has generated massive investor interest, and the company has received an overwhelming response from the market. The latest GMP for the IPO is positive, indicating strong demand for the shares. The company’s consistent financial performance and future expansion plans make it a promising investment opportunity for the investors. However, investors should exercise caution and evaluate the risks associated with the investment before making any decision.

Also Read: Credit Suisse stock nosedives 65%, UBS falls nearly 16% 


Markets end FY23 in style; Sensex Nifty rally nearly 2% on firm global trends

Market, The final day of the fiscal year 2022-23 saw gains for benchmark indices, with a gain of nearly 2% on Friday, extending gains for...

Day trading guide for today: 6 stocks to buy or sell on Friday — 31st March

Trading, Day trading guide for today: Indian shares gained on Wednesday as global markets' increased risk appetite was aided by easing in the banking industry....

Financial, IT stocks aid Indian shares snap three-month losing streak

Financial, By Bharat Rajeshwaran BENGALURU (Reuters) - Indian shares rose on Friday, supported by a higher weighting of financial stocks and information technology (IT) stocks,...


Please enter your comment!
Please enter your name here


Most Popular

Trading the Inside Bar Pattern on Pocket Option Platform

Inside Bar Pattern Introduction Price movement on a chart is examined in price action trading. You may use candlesticks to predict where prices will move...

“Unlocking the Secrets: 4 Tricks of Successful Traders on Pocket Option Platform”

For a year, I have been trading on the Pocket Option platform. I sometimes succeed and sometimes fail. However, I was confident that if...

Identifying Mistakes That Lead to Losses on Pocket Option

Why do people lose their money when trading binary options New traders frequently take a significant financial risk while trading binary options. As a result,...

Weekly Income Plan on Pocket Option Platform”

Get weekly returns on Pocket Option It turned out that October was a terrific month for me. I am still able to generate money every...

Recent Comments