₹ 133 - ₹ 140
13-Mar-2023 - 15-Mar-2023
₹ 14000.00



13-Mar-2023 - 15-Mar-2023

₹ 133 - ₹ 140

Price Band

₹ 14000.00

Minimum Investment


Bid Lot


  • Face Value - ₹ 10/- Per Share

  • Listing at NSE BSE

  • 38,745 Application Required in Retail for 1 Time.

  • Registrar : Bigshare Services Pvt. Ltd

IPO Details

Fresh Issue of 8,520,000 Equity shares and Offer for sale of 2,550,000 Equity shares

Category % Shares/Amount
QIB 50% 5,535,000 Shares Rs. 77.49 Cr
HNI 1 5% 553,500 Shares Rs. 7.36 Cr @ 369 Forms 1x
HNI 2 10% 1,107,000 Shares Rs. 15.50 Cr @ 738 Form 1x
Retail 35% 3,874,500 Shares Rs. 54.24 Cr @ 38745 Forms 1x

BRLMs: Unistone Capital

Application Require for 1 Time

Retail (Upto 2 Lakh) HNI (2 Lakh to 10 Lakh) HNI (Above 10 Lakh)
38745 369 738 Form 1x

IPO Lot Size

Category Lots Shares Amount
Retail (Upto 2 Lakh) 1 100 ₹ 14,000
Retail (Upto 2 Lakh) 14 1400 ₹ 196,000
S-HNI (2 Lakh to 10 Lakh) 15 1500 ₹ 210,000
S-HNI (2 Lakh to 10 Lakh) 71 7100 ₹ 994,000
B-HNI (Above 10 Lakh) 72 7200 ₹ 1,008,000

IPO Timeline

  • Open Date

  • Close Date

  • Basis of Allotment Date

  • Initiation of Refunds

  • Credit Shares to Demat A/c

  • IPO Listing Date


About Company

  • Global Surfaces Limited (“Global Surfaces”) was incorporated on August 23, 1991.  Global Surfaces is engaged in the business of processing natural stones and manufacturing engineered quartz. Natural stones are produced by complex geological processes and include a number of products such as granite, limestone, marble, slate, quartzite, onyx, sandstone, travertine, and others that are quarried from the earth. 
  • Natural stones are widely known for their uniqueness, aesthetic appeal, texture, color, and composition as no two natural stones are the same. Engineered quartz on the other hand, is an example of Engineered stone used in the countertop industry, which is a composite material made up of crushed stone bonded by an adhesive. 
  • Global Surfaces has 2 units, Unit-I located at RIICO Industrial Area, Jaipur and the Unit-II at Mahindra World City SEZ, Jaipur, both in Rajasthan for processing and manufacturing of their products.  
  • Company’s products have application in the flooring, wall cladding, countertops, cut-to size and other items. Their products are used in both commercial and residential industry and are sold within and outside India.  
  • Majority of their operational revenues comprise of export sales and approximately 98% of their revenues from operations have been derived from exports during the period ended September 30, 2022. They are focused on exporting their products and have exported to the United States of America, Canada, Australia and Middle East.  
  • To expand the presence in the international markets Global Surfaces propose to set up a new facility in Dubai, UAE for manufacturing engineered quartz. This Proposed Facility shall be set up through their wholly owned subsidiary Global Surfaces FZE incorporated in UAE. 
Read More


  • Consistent Growth;
  • Wide product portfolio and multiple designs;
  • Established presence in international markets;
  • Experienced and result oriented Promoter;
  • Synergy of young and experienced management team with a committed employee base;
  • Effective quality checks thereby reducing loss;
  • R&D set up for new product development.
  • Increasing the global footprint and augmenting growth in current geographies;
  • Setting up strategically located manufacturing facility;
  • Continue to add to product portfolio by introducing new designs;
  • Technology integration and plant automation to improve productivity.

Company Promoters

Mayank Shah is the Promoter and Managing Director of the company and has been associated with the company since 2004. Sweta Shah is the Executive Director of the Company. Ashish Kumar Kachawa is the Non-Executive Director of the company. Dinesh Kumar Govil is an Independent Director of the company. Yashwant Kumar Sharma is an Independent Director of the company. Sudhir Baxi is an Independent Director of the company. Rajesh Gattani is the Chief Financial Officer of the company. Aseem Sehga

Company Financials

Global Surfaces Limited Financial Information (Restated Consolidated)
Period Ended Total Assets Total Revenue Profit After Tax Net Worth Reserves and Surplus Total Borrowing
31-Mar-20 128.73 165.78 20.96 64.48 58.03 53.49
31-Mar-21 159.00 179.00 33.93 98.43 91.98 37.46
31-Mar-22 236.48 198.36 35.63 134.04 100.17 37.28
30-Sep-22 280.20 99.25 13.59 148.93 115.07 50.52
Amount in ? Crore

Objects of the Issue

The Company proposes to utilize the Net Proceeds towards the funding of the following objects:

  1. Investment in the wholly owned subsidiary, Global Surfaces FZE for part-financing its capital expenditure requirements in relation to the setting up of a manufacturing facility for engineered quartz at The Jebel Ali Free Zone, Dubai, United Arab Emirates (UAE)
  2. General corporate purposes.

How to Apply

Apply for IPO in few simple steps.

  • Step 01 :

    Once you create your account, Login to InvestoYard.

  • Step 02 :

    Under IPO Section, you will be able to see a list of Ongoing IPOs, where you can click on apply button.

  • Step 03 :

    Add quantity of shares to apply – Maximum 3 bids are allowed (For retail category – max amount Rs.2,00,000/-).

  • Step 04 :

    Enter your UPI ID and you will receive mandate on your UPI App.

  • Step 05 :

    Once you accept the mandate, Application is submitted successful.

  • Applying for an IPO is easier than ever with InvestoYard, in just a few clicks your application is processed. You can bid for any IPO through InvestoYard, the bidding process is simple and hassle free. Every company has a lot size decided & you can buy in multiples of the decided lot.
  • If lot size is 15, then you have to bid for multiples of 15 share like 30,45,60 and so on.
  • The maximum subscription amount for retail investors is 2 lakh.
  • Any bid can be at a desired price or cut off price given by the company.

  • Enter the number of shares you wish to buy, as per the lot size.
  • You can apply at the cut off price set by the company or bid for a desired amount within the price band.
  • Maximum three bids will be accepted.
  • You then need to enter the UPI ID on InvestoYard’s IPO application form.

  • You will immediately get a fund blocked request on your UPI for the submitted IPO application.
  • The funds will be blocked in your bank account until allotment when it is debited.
  • The limit for IPO application is Rs 2 lakh per transaction on UPI.
  • On allotment of the shares, the money will be automatically debited.
  • If the share aren’t allotted the blocked funds will reflect back into your account.

Frequently Asked Questions

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