Global Surfaces IPO Company Profile:

Global Surfaces Limited (“GSL”) is engaged in the business of manufacturing engineered quartz AND processing natural stones. Natural stones are produced by complex geological processes and include a number of products such as marble, granite, limestone, onyx, slate, quartzite, sandstone, travertine, and others that are quarried from the earth. Natural stones are widely known for their aesthetic appeal, uniqueness, color, texture, and composition as no two natural stones are the same. Engineered quartz on the other hand, is an example of engineered stone used in the countertop industry, which is a composite material made up of crushed stone bonded by an adhesive.

Global Surfaces Limited (“GSL”) has two units, one located at RIICO Industrial Area, Bagru Extn, Bagru, Jaipur, Rajasthan and the other located at Mahindra World City SEZ, Jaipur, Rajasthan for manufacturing and processing of the products.

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    Global Surfaces IPO Product Portfolio:

    • Natural Stones:

      Natural stones have wide range of applications in large-scale constructions such as construction of government buildings, churches, monuments, and road construction. Previously, for residential construction projects, wood and brick was a non-debatable choice. However, as per recent trends, natural stone is widely used in residential construction owing to its excellent structural and decorative aspects.

    The Natural Stone products segment may be further divided into:

    • Marble
    • Granite
    • Quartzite and others
    • Engineered Stones: Engineered stone, is a composite material formed out of crushed stone that is held together by an adhesive. The various types of engineered stones are:
      • Engineered quartz,
      • Polymer concrete and
      • Engineered marble

    Global Surfaces IPO Details:

    Issue Details
    Objects of the issue  ·To fund capital expenditure requirements of manufacturing facilities of wholly-owned subsidiary

    · To gain the listing benefits

    Issue Size Total issue Size – Rs. 154.98 Cr.

    Fresh Issue        – Rs.35.7 Cr.

    Offer for Sale    – Rs. 119.28 Cr.

    Face value Rs. 10.00 Per Equity Share
    Issue Price Rs.133  – Rs.140
    Bid Lot 100 Shares
    Listing at  BSE, NSE
    Issue Opens 13th Mar, 2023 – 15th Mar, 2023
    QIB 50% of Net Issue Offer
    Retail 35% of Net Issue Offer
    NIB 15% of Net Issue Offer

    Global Surfaces IPO

    Wants To Apply Online


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    Check Global Surfaces  IPO Allotment Status

    Go Global Surfaces IPOallotment status would be available soon after the IPO closure date. Usually the allotment comes within a week from the closing date which in this IPO yet to be announced.

    One can check the allotment on the given below link with PAN number or Application number or DP Client Id. All you need to do is to follow these steps:-

    1. To Global Surfaces IPO Allotment Status
    2. Go to Application Status
    3. Select Global Surfaces  IPO 
    4. Enter your PAN Number or Application Id or DP Client Id.


    Global Surfaces IPO

    Application Form

    Global Surfaces IPO Financial Analysis:

    Particulars 6M of FY-23(in cr.) FY-22(in cr.) FY-21(in cr.) FY-20(in cr.) CAGR
    Revenue from Operations 97.98 190.31 175.37 163.29 8.0%
    Other Income 1.27 8.04 3.63 2.49
    Cost of Goods Sold 45.60 86.69 71.91 71.20 10.3%
    Employee Cost 6.54 14.93 12.27 10.38
    Other expenses 26.61 46.89 43.87 41.39
    EBITDA 20.50 49.85 50.95 42.81 7.9%
    EBITDA margin% 20.92% 26.19% 29.05% 26.21%  
    Depreciation 4.38 10.78 13.01 16.86
    Interest 1.90 2.96 3.41 5.22
    Profit / (loss) before tax 14.22 36.11 34.53 20.72 32.0%
    Total tax 0.63 0.47 0.60 -0.24
    Profit / (loss) After tax 13.59 35.63 33.93 20.96 30.4%
    Profit / (loss) After tax margin% 13.87% 18.72% 19.35% 12.84%  

    Global Surfaces IPO Major Shareholders:

    S.NO. Name of the Shareholder No. of Shares % of pre-Offer shareholding
    1 Mayank Shah 24,906,368 73.55%
    2 Mayank Shah HUF 2,892,488 8.54%
    3 Sweta Shah 3,549,000 10.48%
    4 Vatsankit Shah Trust 845,906 2.50%
    5 Mridvika Shah 1,072,706 3.17%
      Total 33,266,468 98.24%

    Global Surfaces IPO Offer for Sale Details:

    S. No. Name of the Selling Shareholder Number of Equity Shares

    being offered in the Offer for Sale (Up to)

    1. Mayank Shah 1,400,000 Equity Shares
    2. Sweta Shah 1,150,000 Equity Shares

    Global Surfaces IPO Strengths:

    • T

      he recognition of Global Surfaces Limited’s product quality and established goodwill has enabled it to penetrate the engineered quartz market and cater to new customers in addition to the Company’s existing customer network. Increased acceptance of newer product categories due to improved designs and efficient pricing has further established the Company’s reputation.

    • Global Surfaces Limited started its business activities with processing of natural stones and has since branched out to manufacturing engineered quartz which has enabled the company to diversify its product portfolio manifold. Having a wide range of products not only enables it to meet the trends and ever-changing demands of its customers but also gives the Company an edge to efficiently compete with big players in the industry.

    • Global Surfaces Limited’s philosophy has always been to manufacture and process quality products which in turn has helped it to build a sustainable export business. As on date, various regions of the USA are its primary focus in international markets. The company’s exports business constitutes 99.13% of operating revenue in the Fiscal 2021-22 and has grown at 21.60% CAGR over last 11 years. The company has in the recently past sold its products in the United States of America, Canada, Australia and Middle East.

    • Global Surfaces Limited has an in-house R&D facility at our Mahindra World City SEZ, Jaipur, Rajasthan (Unit II) where it focuses on developing good quality and cost-efficient engineered quartz. A dedicated team of R&D personnel is engaged in developing new products and designs which would appeal to the diversified customer base. This in-house development ensures that the company is self-reliant for the development of high-quality products and is kept abreast of the market trends.

    Global Surfaces IPO Risk Factors:.

    • Global Surfaces Limited is dependent on a few customers for a major part of its revenues. Further the company does not enter into long-term arrangements with its customers and any failure to continue its existing arrangements could adversely affect the business and results of operations.

    • Global Surfaces Limited does not have long-term agreements with its suppliers for raw materials and an inability to procure the desired quality, quantity of the raw materials in a timely manner and at reasonable costs, or at all, may have a negative impact on the business, results of operations, financial condition and cash flows.

    • Major portion of the revenues are derived from exports to the United States of America and any adverse developments in this market or restrained economic or political relations of India with the United States of America could adversely affect the business.

    • Global Surfaces Limited, through its wholly-owned subsidiary Global Surfaces FZE, is in the process of setting up the Proposed Facility for manufacturing engineered stone in Dubai, United Arab Emirates. Such venture may not be profitable or achieve the profitability that justifies the investment, which may have an adverse impact on the prospects, growth, results of operations and financial condition.


    Global Surfaces IPO Objects of the Offer:

    Global Surfaces Limited proposes to utilize the Net Proceeds towards funding of the following objects:

    • Investment in its wholly owned subsidiary, Global Surfaces FZE for part-financing its capital expenditure requirements in relation to the setting up of manufacturing facility for engineered quartz at The Jebel Ali Free Zone, Dubai, United Arab Emirates (“UAE”)
    • General corporate purposes.


    Global Surfaces Limited IPO Prospectus:


    Registrar to the offer:


    Telephone: 022-62638200

    Facsimile: 022-63638280


    Investor grievance email:

    Contact Person: Mr. Jibu John


    SEBI Registration Number: INR000001385

    CIN: U99999MH1994PTC076534U6

    Global Surfaces IPO FAQ

    Ans.Global Surfaces Limited IPO will comprise fresh share issue and new offer share issue. The company aims to go public to accelerate its growth and expansion plan.

    Ans. The company will open for subscription on Mar 13, 2023 to Mar 15, 2023

    Ans. The minimum lot size that investors can subscribe to is 100 shares.

    Ans. The Global Surfaces IPO listing date is Mar 23, 2023

    Ans. The minimum lot size for this upcoming IPO is 100 shares.