Saturday, March 25, 2023

Global Surfaces Ltd. to launch IPO on 13 March 2023

Global Surfaces Limited (GSL), Incorporated in 1991 and based out of Jaipur, Rajasthan, is engaged in the business of processing natural stones and manufacturing engineered quartz. The company will launch it’s IPO on March 13, 2023 and the issue closes on March 15, 2023. Unistone Capital Pvt Ltd. is the lead manager to the IPO, and Bigshare Services Pvt Ltd. is the registrar to the issue. 

Global Surfaces IPO is a main-board IPO of 11,070,000 equity shares of the face value of ₹10 aggregating up to ₹154.98 Crores. The issue is priced at ₹133 to ₹140 per share. The shares are proposed to be listed on both BSE and NSE.

The company now intends to establish a dedicated unit for manufacturing engineered quartz at Dubai, UAE via its wholly owned subsidiary Global Surfaces FZE. GSL’s focus on innovation and technology has enabled it to stay ahead of the competition and improve its manufacturing efficiency, cost- effectiveness, and sustainability.

The company has shown steady growth in its Revenues, with revenue from FY22 coming in at Rs. 190 Cr, rising from Rs. 174 Cr (FY21). The company is profitable with the PBT for FY22 reported at Rs.35.6 Cr, and PAT came in at Rs.1.1 Cr.

Global Surfaces Limited (GSL) has been promoted by Mayank Shah who has been instrumental in the growth of the Company. GSL has two manufacturing units strategically located in proximity of availability of key raw materials. Products of the company finds its application in flooring, wall cladding, countertops, cut-to size and other items. GSL’s products are used in both commercial and residential industry and are sold within and
outside India.

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. Both units engage in the processing and manufacturing of the products.

This Unit II set up by GSL is dedicated towards manufacturing engineered quartz. This Unit is also equipped with an R&D facility to develop, improve and test products which assist the company in keeping pace with the ever-evolving market trends and demands. Both Units are located in close proximity to each other.

GSL, through its wholly owned subsidiary, Global Surfaces FZE, intend to establish a dedicated unit for manufacturing engineered quartz in Dubai, UAE. on a lease of 20 years

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