Global Surfaces shares end listing day at 23% premium vs issue price; what Anil Singhvi suggests

Global Surfaces IPO Listing: The stock of Jaipur-based Global Surfaces, a manufacturer of engineered quartz and processor of natural stones, listed on Thursday at a premium of 16-17 per cent over the issue price, in line with Zee Business Managing Editor Anil Singhvi's prediction. 

Check out the listing price of Global Surfaces on BSE and NSE

Global Surfaces shares debuted at Rs 163 apiece on BSE, translating to a premium of 16.4 per cent over the upper end of its IPO price range. 

On NSE, the stock began its journey at Rs 164 apiece, a premium of 17.1 per cent. 

The new kid on the block — Global Surfaces (GSLSU) — finished the listing day at Rs 170.9 apiece on BSE and Rs 172.15 apiece on NSE, about 22-23 per cent higher than the IPO price. 

The listing day for Global Surfaces comes after its IPO, to raise Rs 155 crore, concluded with an overall subscription of more than 12 times the shares on offer.

Anil Singhvi had pegged the listing of Global Surfaces shares to be in the range of Rs 155-165 apiece, a premium of 10.7-17.9 per cent. 

What Anil Singhvi recommends on Global Surfaces shares

Anil Singhvi suggests investors who have received shares in the IPO to hold on to the stock with a stop loss slightly below the issue price in order to protect their capital.

One can keep holding on to the stock on a trailing basis, he said. 

Global Surfaces IPO: Subscription update

Here's how investors across different categories responded to the Global Surfaces issue:

Global Surfaces IPO: Issue price, lot size, investor reservation and other key details

Global Surfaces were available for bidding in a range of Rs 133-140 apiece under the IPO, in multiples of 100, for three trading days till March 15.

Out of the total shares on offer, 50 per cent were reserved for qualified institutional buyers, 15 per cent for non-institutional investors and the remaining 35 per cent for retail investors.

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