The price range is 133-140 rupees per share

The initial sale of shares in Global Surfaces Ltd will end on March 15. (representation)

New Delhi:

Global Surfaces Ltd, a natural stone processing and engineered quartz producer, on Friday said it has set a price range of Rs 133-140 per share for its initial public offering (IPO).

The initial sale of shares, which opens for subscription on March 13, will close on March 15, the company said in a statement.

The IPO includes a fresh issue of 85.20 lakh shares and an offer for sale of up to 25.5 lakh shares by the promoters — Mayank Shah and Sweta Shah.

Funds raised through the reissue will be used to build the company’s proposed Global Surfaces FZE facility in Dubai.

At the top end of the price range, the company is expected to fetch Rs 155 crore from the IPO.

Half of the issue volume is reserved for qualified institutional buyers, up to 35 percent for retail investors and the remaining 15 percent for non-institutional investors.

Unistone Capital is the lead manager for the issue. The shares of the company are listed on BSE and NSE.

(Except for the headline, this story was not edited by NDTV staff and was published on a syndicated channel.)

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