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Global Surfaces IPO subscribed 90% so far on day 2

14 Mar 2023 , 04:17 PM

The engineered quartz manufacturer Global Surfaces initial public offer (IPO) of Rs 155 crore has subscribed 90% on day 2 by 4.00 PM. Click here to subscribe the IPO.

As per BSE website, the issue received bids for 70,04,200 equity shares against 77,49,000 shares offered. The portion for retail investors and Non Institutional Investors (NIIs) has been fully subscribed by 126% and 124%. Whereas the Qualified institutional buyers have bid only for 3% shares of the portion set aside for them.

Global Surfaces IPO important details:

Open date  March 13, 2023
Close date  March 15, 2023
Lot size  100 shares
IPO size (Rs crore)  Rs 154.98 crore
IPO price range (Rs)  Rs 133-140
Minimum investment  Rs 14,000
Basis of allotment date  March 20, 2023
Refunds date  March 21, 2023
Credit to demat account date  March 22, 2023
Listing date  March 23, 2023

 The offer comprises fresh issue of equity shares 119.28 crore and an offer for sale by promoters of up to 2,550,000 equity shares. 

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.

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