Natural stone processor Global Surfaces is all set to open its IPO on March 13 and will close on March 15. The price band of the IPO is set at ₹133-140 per share.
The company is engaged in the business of processing natural stones and manufacturing engineered quartz. Global Surfaces processes stones like granite, limestone, marble, quartzite, travertine etc.
The products of the company have applications in flooring, wall cladding, countertops, cut to size and other items. These products are widely used for commercial and residential industries.The company is looking to raise ₹119.28 crore via fresh issue; along with an offer for sale (OFS) of up to ₹35.7 crore worth equity shares – to be sold by promoters and shareholders.
Global Surfaces has two units, both located in Rajasthan. Majority of its operational revenues is derived from exporting its products to the US. In FY22, the revenue generated from exports to the US represented 99.13%. It also exports to Canada, Australia and the Middle East.
https://www.businessinsider.in/stock-market/news/stone-processing-firm-global-surfaces-to-open-its-154-crore-ipo-on-march-13/articleshow/98475551.cms