New IPO: Global Surfaces, a leading manufacturer of natural stone processing and engineered quartz, is preparing to launch an IPO.
New IPO: Global Surfaces, a natural stone processing and engineered quartz company, has applied to raise money through an IPO. The company has filed preliminary papers i.e. draft red herring prospectus with the market regulator SEBI.
Under this IPO, the company will issue 85.20 lakh new equity shares. Apart from this, the existing promoters of the company will sell 25.5 lakh equity shares through offer for sale (OFS).
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Global Surfaces IPO Details
- The company will issue 85.20 lakh new equity shares through the IPO.
- Existing promoters Mayank Shah and Shweta Shah will sell 25.5 lakh equity shares under the offer for sale window.
- The money raised through the new shares will be used by the company to set up the proposed facility, Global Surfaces FZE, in Dubai.
- The Book Running Lead Manager for this issue is Unistone Capital.
- After the success of this IPO, the company’s shares will be listed on BSE and NSE in the domestic market.
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Details about the company
- Global Surfaces processes natural stones and manufactures engineered quartz.
- The net profit and total income of the company has increased in the last financial year. The company had a net profit of Rs 33.93 crore in the financial year 2020-21, which increased to Rs 35.63 crore in the next financial year 2021-22. On the other hand, if we talk about the income, the total income of the company was Rs 179 crore in the financial year 2020-21, which increased to Rs 198.35 crore in the next financial year 2021-22.