Global Surfaces Limited — Others, 13-11-2024: Monitoring Agency Report

Global Surfaces Limited has confirmed that there were no deviations in the utilization of proceeds from its Initial Public Offering (IPO) for the quarter ended September 30, 2024. The total amount raised through the IPO was ₹154.98 crore, with ₹101.58 crore available for use. The company utilized ₹100.20 crore, allocating funds primarily for capital expenditures at its subsidiary, Global Surfaces FZE, in Dubai. The audit committee and board found no concerns regarding fund utilization. This stability in fund usage may foster a positive outlook among investors, suggesting effective capital management and strategic execution in line with the company’s growth plans.