Global Surfaces IPO Gray Market Premium Subscription Starts Today Know Status And Other Details

Global Surfaces IPO Update: The IPO of Global Surfaces Ltd, a company engaged in processing natural stones and manufacturing engineered quartz, has opened for subscription. It is also getting decent response in the market. Let us know how this IPO can prove to be for the investors…

This IPO came last week

First of all, let us tell you that after months of lethargy, the IPO market has again started getting bright and investors who have invested money in the stock market are getting opportunities to earn. Only last week, the IPO of Sudarshan Pharma Industries Pvt Ltd SME (Sudarshan Pharma Industries Pvt Ltd SME) came, which is currently open for subscription. Now Global Surfaces Ltd IPO (Global Surfaces Ltd IPO) has come in the market.

The size of the IPO is so big

The size of the IPO of Global Surfaces Limited is around Rs 155 crore. This IPO has been opened for subscription from today i.e. from 13th March and bidding can be done till 15th March. Its shares will be allotted on March 20, while unsuccessful bidders will start getting refunds from March 21. The shares of Global Surfaces Limited will be credited in the demat account of those whose bids are selected on March 22. The shares of the company will be listed on BSE and NSE on March 23.

Investors can invest this much

Global Surfaces Limited has a total of 1,10,70,000 shares of face value of Rs 10 each in the IPO. Of these, fresh issue of 85,20,000 shares and offer for sale (OFS) of 25,50,000 shares are included. Currently, promoter Mayank Shah holds 99.35 per cent stake in the company. There are 100 shares in one lot of this IPO. A retail investor can apply for a maximum of 14 lots. In this way, retail investors have the facility to invest a minimum of Rs 14,000 and a maximum of Rs 1,96,000.

Good response in gay market

By the afternoon of the first day of subscription, about 30 percent of this IPO had been subscribed. The retail portion was subscribed the maximum, around 50 per cent. This IPO is also getting good response in the gray market. The company has fixed the price band of Rs 133 to Rs 140 for the IPO. It was trading at Rs 175 in the gray market on March 13. The GMP of this IPO is currently Rs 35 i.e. around 25 per cent. Accordingly, investors can earn Rs.350 per lot.

Disclaimer: (The information provided here is for information only. It is important to mention here that investing in the market is subject to market risks. Always take expert advice before investing money as an investor. ABPLive.com It is never advised to invest money here.)

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