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Global Surfaces IPO 
lists at a premium of 17% on NSE

Global Surfaces Ltd listed on the bourses at a premium on Thursday.

On the NSE, the stock was listed at rupees 164 per share, 17.14% higher than the issue price.

On the BSE, the stock was listed at rupees 163 per share, 16.43% higher than the issue price.

The public offering, which has a face value of rupees 10 per equity share, consists of a fresh issue of 85.20 lakh equity shares and OFS of up to 25.5 lakh equity shares by selling shareholders.

Promoter Mayank Shah will sell 14 lakh shares through the OFS process, and Sweta Shah will sell 11.5 lakh shares.

The proceeds from the issue will be used for investment in wholly owned subsidiary Global Surfaces FZE for setting up the manufacturing facility in Dubai and general corporate purposes.

Unistone Capital Private Ltd is the sole lead manager of the issue, and Bigshare Services Private Ltd is the registrar.

According to Prashanth Tapse, Research Analyst, Sr VP Research, Mehta Equities Ltd, the IPO managed to receive strong response in the volatile markets.

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Global Surfaces IPO. 

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Global Surfaces IPO  lists at a premium of 17% on NSE

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Global Surfaces IPO lists at a premium of 17% on NSE

The stock hit a high of ₹171.15, and a low of ₹163, on the BSE.

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