Agarwal Toughened Glass India IPO Opens Today: Check Price Band, Offer Size, GMP And Key Financials

The initial public offering (IPO) of Agarwal Toughened Glass India Ltd. opened on Thursday. The Agarwal Toughened Glass IPO is a book-building issue comprising an entirely fresh issue of 58 lakh shares. The company aims to raise Rs 62.64 crore via the IPO.

The investors, who are interested in applying for the Agarwal Toughened Glass IPO, can check these important details about the NSE SME issue ahead of bidding.

The Agarwal Toughened Glass IPO will remain open for bidding between Nov. 28 and Dec. 2. Share allotment for the issue is expected to be finalised on Dec. 3.

The company will initiate refunds for non-allottees on Dec. 4 and the successful bidders will also receive shares in their Demat accounts the same day. Shares of Agarwal Toughened Glass are likely to be listed on Dec. 5 on the NSE SME platform, Emerge.

Agarwal Toughened Glass IPO price band has been fixed at Rs 105 to Rs 108 per share. Retail investors can apply for at least a single lot size of 1,200 shares, which aggregates to a minimum investment of Rs 1,29,600.

The book running lead manager for the SME issue is Cumulative Capital Private Limited.

The registrar for Agarwal Toughened Glass IPO is Kfin Technologies Limited. The market maker for Agarwal Toughened Glass IPO is Nikunj Stock Brokers.

Agarwal Toughened Glass IPO GMP (grey market premium) stood at Rs 9 as of 8 a.m. on Nov. 28, according to InvestorGain. This indicates a potential listing gain of 8.33%, with a projected listing price of Rs 117 per share at the upper end of the price band.

Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.

Agarwal Toughened Glass Ltd. Business

Agarwal Toughened Glass Ltd manufactures toughened glass. The company provides a variety of thickness and size options for its hardened value-added glass. The company’s product portfolio includes laminated, frosted, tinted, reflecting, clear, and double-glazed toughened glass.  The products made by the company are used as shower doors, refrigerator trays, mobile screen protectors, bulletproof glass for diving masks, and a variety of plates and cookware by other industries.

Use Of Proceeds

The company plans to use the money raised via the public offer for purchasing machinery for its existing manufacturing unit. A part of the proceeds will also be used for repayment of borrowings, meeting incremental working capital requirements and for general corporate expenses.

Financials

Agarwal Toughened Glass Ltd.’s revenue from operations for the quarter ended September 30, 2024, stood at Rs 23.49 crore. The company posted a profit-after-tax (PAT) of Rs 4.53 crore.

Agarwal Toughened Glass’ revenue from operations FY24 remained flat, decreasing 0.24% year-on-year to Rs of Rs 40.5 crore from Rs 40.6 crore in the year ago period. The company’s PAT in FY24 increased multi-fold to Rs 8.68 crore compared to Rs 96.97 lakh in FY23.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.