Key Points of Money Raising:
- Global Surfaces raises Rs 46.49 crore through anchor book ahead of IPO launch
- The IPO launch is set to open on March 13 with a price band of Rs 133-140 per share
- Three prominent investors – Leading Light Fund VCC – The Triumph Fund, Saint Capital Fund, and VPK Global Ventures Fund – Scheme 1 participated in the anchor book
- Global Surfaces allocated 33.21 lakh equity shares to these investors at Rs 140 per share with a premium of Rs 130 per share
- Leading Light Fund VCC – The Triumph Fund received 19.28 lakh shares worth Rs 27 crore, Saint Capital Fund 10.35 lakh shares worth Rs 14.49 lakh crore, and VPK Global Ventures Fund – Scheme 3.57 lakh shares worth Rs 5 crore
- Global Surfaces plans to utilize the IPO proceeds for investment in its wholly-owned subsidiary, Global Surfaces FZE, to partially finance its capital expenditure
- The subsidiary aims to establish a manufacturing facility for engineered quartz at The Jebel Ali Free Zone, Dubai, UAE
- The IPO comprises a fresh issuance of shares worth Rs 119.28 crore and an offer for sale of Rs 35.70 crore by selling shareholders and will close on March 15.
Details of Money Raising:
Global Surfaces Raises Rs 46.49 Crore via Anchor Book ahead of IPO Launch
Global Surfaces, a leading engineered quartz manufacturer, has successfully raised Rs 46.49 crore through its anchor book ahead of its initial public offering (IPO) launch next week. The company’s IPO, which is set to open on March 13, has a price band of Rs 133-140 per share.
The anchor book was participated by three prominent investors – Leading Light Fund VCC – The Triumph Fund, Saint Capital Fund, and VPK Global Ventures Fund – Scheme 1. The company has allocated 33.21 lakh equity shares to these investors at Rs 140 per share, including a premium of Rs 130 per share.
Leading Light Fund VCC – The Triumph Fund received 19.28 lakh shares worth Rs 27 crore, Saint Capital Fund 10.35 lakh shares worth Rs 14.49 lakh crore, and VPK Global Ventures Fund – Scheme 3.57 lakh shares worth Rs 5 crore.
Global Surfaces plans to utilize the IPO proceeds for investment in its wholly-owned subsidiary, Global Surfaces FZE, which will be used to partially finance its capital expenditure. The subsidiary aims to establish a manufacturing facility for engineered quartz at The Jebel Ali Free Zone, Dubai, United Arab Emirates (UAE).
The company’s IPO comprises a fresh issuance of shares worth Rs 119.28 crore, and an offer for sale of Rs 35.70 crore by selling shareholders. The IPO, which will close on March 15, is the second public issue this year after Divgi TorqTransfer Systems.
Stay tuned for more updates on Global Surfaces and its upcoming IPO launch.
About Global Surfaces:
Global Surfaces Ltd was established in 2004 in Jaipur, Rajasthan under the name Global Stones. Since then, the company has made remarkable strides and expanded its presence in global markets under the leadership of the visionary Director, Mr. Mayank Shah.
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