Key Points of Global Surfaces IPO Debut with 22% Surges:
- Global Surfaces, a natural stones processing company, made its debut on the stock market on March 23 with an impressive showing.
- The company’s share price closed with a massive 22% rally, outperforming equity benchmarks and broader markets.
- The stock opened at Rs 164, up 17% over the issue price of Rs 140 per share, and remained positive throughout the session.
- The IPO raised Rs 154.98 crore, with Rs 119.3 crore raised via a fresh issue that will be utilized for setting up a new unit for engineered quartz in Dubai.
- Global Surfaces already has two units in Rajasthan, and the majority of its revenues come from the export business.
- The strong debut at the bourses is a positive sign for the company’s growth and expansion plans.
- The company traded with a volume of 55.86 lakh shares on the NSE and 4.36 lakh shares on the BSE.
Details of Global Surfaces IPO Debut with 22% Surges:
Global Surfaces: Impressive Debut on Bourses with 22% Rally
Global Surfaces, a natural stones processing company, marked its debut at the bourses on March 23 with an impressive showing. The company’s share price closed with a massive 22% rally, outperforming equity benchmarks and broader markets. In contrast, the Nifty50 and Nifty Midcap 100 indices closed with four-tenth of a percent losses on the same day.
The stock opened at Rs 164, up 17% over the issue price of Rs 140 per share and remained positive throughout the session. It touched an intraday high of Rs 172.20 and a low of Rs 156.10 on the NSE before closing the session at Rs 171.05, up 22.18%.
Global Surfaces traded with a volume of 55.86 lakh shares on the NSE and 4.36 lakh shares on the BSE. The company’s initial public offering fetched it Rs 154.98 crore, with Rs 119.3 crore raised via a fresh issue that will be utilized for setting up a new unit for engineered quartz in Dubai.
Global Surfaces already has two units in Rajasthan, and the majority of its revenues come from the export business. The strong debut at the bourses is a positive sign for the company’s growth and expansion plans.
About Global Surfaces:
Global Surfaces manufactures engineered quartz in addition to processing natural stones. In Rajasthan, the business includes two manufacturing facilities. The market for engineered quartz was valued at $24,150 million in 2021, and by 2026, it is projected to rise at a CAGR of 7-8%.
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