Latest News | Global Surfaces Shares Debut on Exchanges with over 17 Pc Premium

New Delhi, Mar 23 (PTI) Shares of Global Surfaces Ltd, which is into processing natural stones and manufacturing engineered quartz, made a smart debut on the exchanges on Thursday, listing with a premium of over 17 per cent against the issue price of Rs 140.

The stock made its debut at Rs 163, higher by 16.42 per cent from the issue price on the BSE. It further rallied 22.25 per cent to Rs 171.15.

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At the NSE, shares of the company began the trade at Rs 164, a jump of 17.14 per cent.

The initial share sale of Global Surfaces Ltd was subscribed 12.21 times on the final day of the offer on Wednesday last week.

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The company's IPO had a fresh issuance of 85.20 lakh equity shares and an Offer For Sale of up to 25.5 lakh equity shares.

Global Surfaces had set a price band of Rs 133-140 a share for its Initial Public Offering (IPO). The initial share sale opened for subscription on March 13 and ended on March 15.

Funds raised through fresh issuance will be used for setting up the company's proposed facility -- Global Surfaces FZE -- in Dubai.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)