Global Surfaces IPO: GMP, Price, Dates and size

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Global Surfaces Limited, which was established in 1991, processes natural stones and manufactures engineered quartz. The natural stones, such as granite, limestone, marble, slate, quartzite, onyx, sandstone, travertine, and others, are created through intricate geological processes and extracted from the earth. 

Global Surfaces Limited operates two units in Rajasthan, one situated in RIICO Industrial Area, Bagru Extn, Bagru, Jaipur, and the other in Mahindra World City SEZ, Jaipur. These units specialize in processing and manufacturing products. 

Global Surfaces Limited produces various products that can be used for flooring, wall cladding, countertops, cut-to-size, and other purposes. These products are in high demand for both residential and commercial industries, and they are sold both domestically and internationally. 

Global Surfaces IPO Details 

IPO Date Mar 13, 2023 to Mar 15, 2023 
Listing Date [.] 
Face Value ₹10 per share 
Price ₹133 to ₹140 per share 
Lot Size 100 Shares 
Issue Size 11,070,000 shares of ₹10 
(aggregating up to ₹154.98 Cr) 
Fresh Issue 8,520,000 shares of ₹10 
(aggregating up to ₹[.] Cr) 
Offer for Sale 2,550,000 shares of ₹10 
(aggregating up to ₹[.] Cr) 
Issue Type Book Built Issue IPO 
Listing At BSE, NSE 
ITCONS E-Solutions IPO: GMP, Price, Dates and size

Global Surfaces IPO Tentative dates 

Event Tentative Date 
Opening Date Mar 13, 2023 
Closing Date Mar 15, 2023 
Basis of Allotment Mar 20, 2023 
Initiation of Refunds Mar 21, 2023 
Credit of Shares to Demat Mar 22, 2023 
Listing Date Mar 23, 2023 

Company Overview 

Global Surfaces Limited operates two manufacturing units in Rajasthan, one situated in RIICO Industrial Area, Bagru Extn, Bagru, Jaipur, and the other located in Mahindra World City SEZ, Jaipur. These units have a substantial manufacturing capacity that enables the company to fulfill customer demands while ensuring quality and consistency. 

The company’s commitment to producing high-quality and innovative products that cater to the evolving needs of customers has allowed it to offer a diverse product range. This diverse range enables Global Surfaces Limited to cater to various customers and industries. The company is known for producing durable and high-quality products that give it a competitive edge in the market. As a result, Global Surfaces Limited is regarded as a significant player in the surface industry in India and is expected to benefit from the growing demand for surface materials in the country. 

Industry Overview 

India’s surface industry is expected to grow at a compound annual growth rate (CAGR) of 5.5% between 2020 and 2025. The market size of the Indian surface industry is estimated to be around USD 3.5 billion in 2020, and it is projected to reach USD 4.6 billion by 2025. 

Overall, the surface industry in India is expected to continue to grow, driven by urbanization, increasing disposable income, and the growing demand for sustainable and eco-friendly materials. 

Company Financials 

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); 
  1. General corporate purposes. 


  • Diverse product range 
  • Manufacturing capabilities  
  • Market reach 


  • Dependence on suppliers: 
  • Competition 
  • Cost management 

Global Surfaces IPO Prospectus

Company Contact Information

Global Surfaces Limited
Plot No. PA-10-006,
Engineering and Related Industries SEZ,
Mahindra World City, Sanganer Jaipur – 302 037
Phone: 0141-7191000

Global Surfaces IPO Registrar

Bigshare Services Pvt Ltd

Phone: +91-22-6263 8200

Global Surfaces IPO Lead Manager(s)

  1. Unistone Capital Pvt Ltd (Past IPO Performance)


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