Thursday, June 8, 2023

Global Surfaces IPO Gray Market Premium Subscription Starts Today Know…

Global Surfaces Premium Listing: The performance of the stock market has not been good so far this year. Both the major indices BSE Sensex and NSE Nifty are at a loss of more than 5-5 per cent so far this year. This is the reason why there has been a lull in the IPO market for months. But even in such an environment, not only did an IPO get a good response, but its shares earned its investors as soon as they were listed.

The size of the IPO was so big

We are talking about the IPO of Global Surfaces Ltd, a company that processes natural stones and manufactures engineered quartz. The size of the IPO of Global Surfaces Limited was around Rs 155 crore. This IPO was open for subscription from March 13 to March 15. After the bidding, its shares were allotted on March 20 and the demat accounts of successful investors were credited on March 22. Finally, today i.e. on March 23, the company’s shares were listed on BSE and NSE. Now regular trading has started in the shares of Global Surfaces Limited.

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Investors put so much money

Global Surfaces Limited had a total of 1,10,70,000 shares of face value of Rs 10 in the IPO. Of these, fresh issue of 85,20,000 shares and offer for sale (OFS) of 25,50,000 shares were included. The company had fixed the price band of Rs 133 to Rs 140 for the IPO. There were 100 shares in one lot of this IPO and a retail investor could apply for a maximum of 14 lots. This means that a successful retail investor invested a minimum of Rs 14,000 and a maximum of Rs 1,96,000 in this IPO.

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Listing done at such a premium

The share of Global Surfaces Limited was listed today with a premium of around 17 per cent. It started trading at Rs 163 per share on BSE and Rs 164 per share on NSE. In this way, as soon as the listing was done, the investors earned about 17 percent. On the other hand, its price got stronger in the first day’s trading. After the end of trading, it closed at Rs 172.15 with a gain of about 23 per cent. That is, investors earned Rs 32.15 on each share.

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Retail investors earned this much

If we look at the closing price of the first day, retail investors who bought one lot have earned Rs 3,215. At the same time, the value of the share of retail investors who bought 14 lots has increased by more than Rs 45 thousand. Simply put, this IPO has filled the pockets of its investors on the very first day itself.

Disclaimer: (The information provided here is for information only. It is important to mention here that investing in the market is subject to market risks. Always take expert advice before investing money as an investor. It is never advised to invest money here.)

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