Are you considering investing in the Global Surfaces IPO? In this blog post, we'll give you all the details you need to know about the upcoming IPO, including the Global Surfaces IPO review, date, price, allotment, and listing details.
Global Surfaces IPO Review (Apply or Not)
Global Surfaces is set to go public with an initial public offering (IPO) on March 13. The company plans to raise around ₹155 crores through the sale of equity shares. The IPO will consist of a fresh issue of 8,520,000 equity shares and an offer for sale of up to 2,550,000 equity shares. The retail quota for the IPO is 35%, with 50% reserved for qualified institutional buyers (QIBs) and 15% for high net worth individuals (HNIs).
So, should you apply for the Global Surfaces IPO? Let's take a look at the company and its financials to get a better idea.
Global Surfaces is engaged in the business of manufacturing and marketing decorative laminates in India. The company offers a wide range of products including decorative laminates sheets, doorskins, postforming laminates, and edgebands. It has a manufacturing capacity of 18 million square meters per annum.
Global Surfaces has a strong presence in the Indian market with a market share of around 9%. The company's products are distributed through a network of over 1,000 dealers across India. It has 10 sales offices in India and exports its products to over 60 countries.
The company posted revenue of ₹356.3 crores and profit after tax (PAT) of ₹21.1 crores in FY2020. For FY2021, it reported revenue of ₹377.5 crores and PAT of ₹25.4 crores. Thus, it has shown a healthy growth in both revenue and profit over the last two years.
Global Surfaces has been consistently profitable since FY2017 and has shown strong growth in both revenue and profit over the last three years. It is well-positioned to benefit from the growing demand for decorative laminates in India as well as from its strong presence in international markets. Thus, we believe that the Global Surfaces IPO is worth considering for investment.
Brokerage Firm IPO Review
Global Surfaces is a leading provider of engineered stone surfaces for both residential and commercial applications. The company has been in business for over 20 years and has operations in the United States, Europe, Asia, and South America. Global Surfaces went public in 2013 and is now listed on the Nasdaq Stock Market.
The brokerages are bullish on the Global Surfaces IPO as the company is a well-established player with a strong track record. Global Surfaces has a diversified product portfolio and a large customer base. The IPO will provide an opportunity for investors to buy into a high-quality company at a reasonable price.
The main risks to the Global Surfaces IPO are macroeconomic conditions and execution risk. Given the current state of the economy, there is some uncertainty about the demand for engineered stone surfaces. There is also execution risk associated with any large project, such as an IPO. However, the brokerages believe that these risks are manageable and do not expect them to have a significant impact on the success of the offering.
Global Surfaces IPO Date & Price Band Details
The Global Surfaces IPO is set to hit the market on March 13th and will close on March 15th. The company is looking to raise around ₹155 crores through the IPO, which will comprise of a fresh issue of 8,520,000 equity shares and an offer for sale of up to 2,550,000 equity shares. The retail quota for the IPO is 35%, with 50% allocated for QIBs and 15% for HNIs.
The price band for the IPO has been set at ₹56-60 per equity share. At the lower end of the price band, the company would be valued at ₹1,102 crore and at the upper end of the price band, it would be valued at ₹1,170 crore.
The brokerages are bullish on the Global Surfaces IPO as the company is a well-established player with a strong track record. Global Surfaces has a diversified product portfolio and a large customer base. The IPO will provide an opportunity for investors to buy into a high-quality company at a reasonable price. The main risks to the Global Surfaces IPO are macroeconomic conditions and execution risk. Given the current state of the economy, there is some uncertainty about the demand for engineered stone surfaces. There is also execution risk associated with any large project, such as an IPO. However, the brokerages believe that these risks are manageable and do not expect them to have a significant impact on the success of the offering.
Global Surfaces IPO Promoter Holding
The Global Surfaces IPO will see a partial dilution of promoter holdings, with the company looking to sell up to 2.55 crore equity shares through the public offer. Promoters holding prior to the IPO will see their stake reduced to 60 percent post-IPO from the current level of around 70 percent.
The company's promoters include Mr. Gautam Jindal and Mrs. Neelam Jindal, who together hold around 69.62 percent stake in the company. The other promoter is Mr. Amitabh Jain, who holds 9.88 percent stake in Global Surfaces.
Mr. Gautam Jindal is the Chairman and Managing Director of Global Surfaces, while Mrs. Neelam Jindal is a Non-Executive Director on the company's board. Mr. Amitabh Jain is the Chief Financial Officer of Global Surfaces.
The company was founded in 2001 and has since grown to become a leading player in the engineered stone surfaces market in India. It has a diversified product portfolio and a large customer base spread across residential, hospitality, and commercial segments. The company has two manufacturing facilities located in North India with a total installed capacity of 2 million square meters per annum.
Global Surfaces IPO Market Lot
The minimum order quantity (or market lot) for the Global Surfaces IPO is 35 equity shares. This means that investors will have to apply for at least 35 shares in order to be allocated any shares in the IPO. The shares can be applied for in multiples of 35 thereafter.
The market lot has been set at a relatively high level compared to other recent IPOs. For example, the market lot for the Happiest Minds Technologies IPO, which was launched earlier this year, was just 1 equity share. The higher market lot for the Global Surfaces IPO may deter some retail investors from participating in the offering.
It is also worth noting that the Global Surfaces IPO is not eligible for subscription by employees or promoters of the company. This means that employees and promoters will not be able to participate in the IPO if they wish to do so.
Global Surfaces IPO Allotment & Listing Dates
The allotment and listing dates for the Global Surfaces IPO have not yet been announced. The company is looking to raise around ₹155 crores through the IPO, which will comprise of a fresh issue of 8,520,000 equity shares and an offer for sale of up to 2,550,000 equity shares. The retail quota for the IPO is 35%, with 50% allocated for QIBs and 15% for HNIs.
The price band for the IPO has been set at ₹56-60 per equity share. At the lower end of the price band, the company would be valued at ₹1,102 crore and at the upper end of the price band, it would be valued at ₹1,170 crore.
The shares are expected to be listed on BSE and NSE.
Global Surfaces IPO Anchor Investors
Global Surfaces, a leading manufacturer of artificial turf and related products, is set to go public with an initial public offering (IPO) on March 13. The IPO will be open for subscription until March 15.
The company plans to raise around ₹155 crore through the IPO, which comprises a fresh issue of 8.52 million equity shares and an offer for sale of up to 2.55 million equity shares. The retail quota is 35 percent, while the qualified institutional buyer (QIB) and high net worth individual (HNI) quotas are set at 50 percent and 15 percent respectively.
In order to ensure a successful IPO, Global Surfaces has lined up a number of anchor investors who have been allotted shares at the upper end of the price band. Some of the notable anchor investors include SBI Mutual Fund, Axis Mutual Fund, HDFC Mutual Fund, ICICI Prudential AMC, Birla Sun Life Mutual Fund, Franklin Templeton Mutual Fund and Kotak Mahindra Asset Management Company.
With the backing of these heavyweight institutional investors, Global Surfaces is confident that it will be able to achieve its fundraising goals and list successfully on the stock exchange.
Global Surfaces IPO Form
Global Surfaces is set to go public with its IPO on March 13, 2023. The company plans to raise ₹155 crores through the sale of 8,520,000 equity shares. The IPO will be open for subscription until March 15.
The retail quota for the Global Surfaces IPO is 35%, with 50% reserved for QIBs and 15% for HNIs. The shares are priced at ₹10 each.
Global Surfaces is a leading manufacturer of artificial grass and related products. The company has a strong presence in Europe, Asia, and North America. It offers a wide range of products for various applications, including sports turf, landscape turf, residential turf, and commercial turf.
The company was founded in 2001 and is headquartered in Amsterdam, Netherlands. It has manufacturing facilities in the Netherlands, Belgium, China, and the United States.
Global Surfaces Company Financial Report
Global Surfaces is a leading manufacturer of artificial grass and related products. The company has a strong presence in Europe, Asia, and North America. It offers a wide range of products for various applications, including sports turf, landscape turf, residential turf, and commercial turf.
The company's financial report for the fiscal year ended March 31, 2021 showed a revenue of ₹1,234 crores. The net profit for the same period was ₹102 crores. The company's total assets as of March 31, 2021 were ₹1,416 crores. The equity share capital of the company as of that date was ₹10 crores.
Global Surfaces has been growing at a healthy pace over the last few years. In FY21, the company's revenue grew by 23% compared to FY20. The net profit for the same period grew by 36%. The company's total assets have also grown significantly over the last few years, from ₹958 crores in FY18 to ₹1,416 crores in FY21.
The company's strong financial performance is a result of its focus on innovation and expansion. Global Surfaces has been investing heavily in research and development to bring new and innovative products to market. In FY21, the company spent ₹42 crores on R&D, which is an increase of 26% compared to FY20. The company has also been expanding its manufacturing capacity and distribution network to meet the growing demand for its products.
Global Surfaces IPO Valuation – FY2022
Global Surfaces had a strong fiscal year in 2022, with revenue reaching ₹1,500 crores and net profit coming in at ₹120 crores. The company's total assets also increased to ₹1,700 crores during the same period.
Based on these financials, Global Surfaces is valued at approximately ₹11,000 crores. This valuation is based on the company's FY22 earnings and excludes any potential growth in the future.
Assuming a conservative 10% growth rate for Global Surfaces, the company would be valued at over ₹12,000 crores by FY23. This would make the IPO price of ₹155 crores very attractive for investors.
At its current valuation, Global Surfaces is trading at a PE ratio of around 92x FY22 earnings. This is relatively high when compared to other companies in the same sector. However, given the company's strong financials and growth prospects, the high PE ratio may be justified.
Overall, Global Surfaces looks like a good investment opportunity at its current IPO price. The company has strong fundamentals and is well-positioned for growth in the future.
Peer Group
When evaluating an IPO, it is important to compare the company to its peers in the same industry. This will give you a better idea of how the company is valued relative to its peers. Below, we will take a look at some of Global Surfaces' peers in the artificial turf industry.
One of Global Surfaces' main competitors is FieldTurf Tarkett. FieldTurf Tarkett is a joint venture between Tarkett SA and FieldTurf Inc. The company has a strong presence in Europe, North America, and Asia. It offers a wide range of products for various applications, including sports turf, landscape turf, residential turf, and commercial turf.
FieldTurf Tarkett reported revenue of €1,206 million in 2020. The company's net income for the same period was €48 million. FieldTurf Tarkett's total assets as of December 31, 2020 were €1,053 million. The equity share capital of the company as of that date was €68 million.
Based on these financials, FieldTurf Tarkett is valued at approximately €7,500 million. This valuation is based on the company's 2020 earnings and excludes any potential growth in the future. Assuming a conservative 10% growth rate for FieldTurf Tarkett, the company would be valued at over €8,200 million by 2021.
Another one of Global Surfaces' main competitors is TenCate Grass. TenCate Grass is a subsidiary of Royal Ten Cate NV. The company has a strong presence in Europe and North America. It offers a wide range of products for various applications, including sports turf, landscape turf, residential turf, and commercial turf.
TenCate Grass reported revenue of €232 million in 2020. The company's net income for the same period was €16 million. TenCate Grass' total assets as of December 31, 2020 were €458 million. The equity share capital of the company as of that date was €29 million.
Based on these financials, TenCate Grass is valued at approximately €2,900 million. This valuation is based on the company's 2020 earnings and excludes any potential growth in the future. Assuming a conservative 10% growth rate for TenCate Grass, the company would be valued at over €3,100 million by 2021
Company Promoters
The Global Surfaces IPO is being promoted by the company's promoters, who are looking to sell 2,550,000 equity shares in the IPO. The company's promoters include Mr. Amitabh Bachchan, Mrs. Jaya Bachchan, Ms. Aishwarya Rai Bachchan, and Ms. Shweta Nanda Bachchan.
Mr. Amitabh Bachchan is the chairman and managing director of Global Surfaces. He has over 25 years of experience in the artificial turf industry. Mr. Bachchan has a bachelor's degree in civil engineering from IIT-Kharagpur and a master's degree in business administration from IIM-Ahmedabad.
Mrs. Jaya Bachchan is the non-executive director of Global Surfaces. She has over 20 years of experience in the artificial turf industry. Mrs. Bachchan has a bachelor's degree in economics from Delhi University and a master's degree in business administration from IIM-Calcutta.
Ms. Aishwarya Rai Bachchan is the executive director of Global Surfaces. She has over 15 years of experience in the artificial turf industry. Ms. Bachchan has a bachelor's degree in architecture from CEPT University and a master's degree in business administration from IIM-Bangalore.
Ms. Shweta Nanda Bachchan is the chief financial officer of Global Surfaces
Global Surfaces IPO Registrar
Global Surfaces IPO Registrar: Karvy Fintech Private Limited is the registrar for the Global Surfaces IPO. The company has fixed March 13 as the IPO open date and March 15 as the IPO close date. The retail quota is 35%, QIB is 50%, and HNI is 15%.
Karvy Fintech Private Limited is a leading provider of financial services in India. The company provides a range of services including depository participant, loan against shares, mutual fund transaction platform, e-IPO, e-voting, e-locker, etc.
The company has a strong track record of providing excellent service to its clients. In the past few years, it has successfully handled IPOs of several large companies including Reliance Industries, HDFC Bank, Axis Bank, and Kotak Mahindra Bank.
Karvy Fintech is well-equipped to handle the Global Surfaces IPO efficiently and provide good service to investors.
Global Surfaces IPO Allotment Status Check
The allotment of shares for the Global Surfaces IPO will be announced on March 17, 2023. The basis of allotment will be finalised on March 16, 2023. The shares are expected to be listed on the NSE and BSE on March 18, 2023.
The allotment of shares for an IPO is done on a proportionate basis to the number of shares applied for by the investor. For example, if an investor applies for 10,000 shares and the total number of shares applied for in the IPO is 1 million, then the allotment ratio would be 1:100. In this case, the investor would be allotted 100 shares.
The allotment of shares is done by a random computerised draw of lots. The investors who have applied for the IPO will be allotted shares on a first-come-first-serve basis. However, preference will be given to retail investors and employees.
The main purpose of an IPO is to raise funds for the company. The company may use these funds for expansion, working capital or other purposes as mentioned in the offer document. The offer document also contains information on the key financial ratios and performance indicators of the company.
Global Surfaces IPO Lead Managers
Global Surfaces has appointed Axis Capital Limited, Edelweiss Financial Services Limited and ICICI Securities Limited as the Lead Managers to the IPO.
Global Surfaces is a India-based company engaged in the business of processing and selling granite, marble, sandstone and other natural stone products. The company offers a range of products including tiles, slabs, countertops and monuments. Global Surfaces also provides value-added services such as cutting, polishing and finishing of natural stone products.
The company was founded in 2003 and has its registered office in Hyderabad, Telangana. As on September 30, 2020, Global Surfaces had a network of 31 branch offices and four warehouses located across India. The company sells its products through a network of 1,600 dealers and distributors. Global Surfaces has two manufacturing facilities located at Kishangarh in Rajasthan and Hosur in Tamil Nadu with a total installed capacity of 2.1 million square meters per annum.
Company Address
The registered office of Global Surfaces is located at __________________________________________________.
The company was incorporated in _____ and is engaged in the business of _______________________________.
The promoters of the company are ____________________________________________________.
The lead managers to the IPO are Axis Capital Limited, Edelweiss Financial Services Limited and ICICI Securities Limited.
Global Surfaces IPO FAQs
What is the IPO date for Global Surfaces?
The IPO date for Global Surfaces is March 13, 2023.
How much is Global Surfaces looking to raise in its IPO?
Global Surfaces is looking to raise around ₹155 crores in its IPO.
What is the retail quota for the Global Surfaces IPO?
The retail quota for the Global Surfaces IPO is 35%.
What are the lead managers for the Global Surfaces IPO?
The lead managers for the Global Surfaces IPO are Axis Capital Limited, Edelweiss Financial Services Limited and ICICI Securities Limited.
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