Agarwal Toughened Glass IPO Subscribed Close To 10 Times; GMP Drops On Final Day
Agarwal Toughened Glass India IPO GMP stood at Rs 6 on December 2 indicating a potential listing gain of around 5.56%.
The initial public offering of Agarwal Toughened Glass India Ltd. that opened on Thursday was subscribed 9.89 times on its final day of bidding. The SME issue was fully subscribed on Day 2, led by demand from retail investors. The SME IPO was subscribed 0.39 times on Day 1.
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.
Agarwal Toughened Glass IPO Day 3 Subscription Status
Agarwal Toughened Glass IPO was subscribed 9.89 times on Monday, as per the market tracking site Chittorgarh.
Qualified Institutions: 4.49 times
Non-Institutional Buyers: 15.17 times
Retail Investors: 10.71 times
Agarwal Toughened Glass IPO GMP Today
Agarwal Toughened Glass IPO GMP (grey market premium) stood at Rs 6 as of 7:23 pm on December 2, according to InvestorGain. This indicates a potential listing gain of 5.56%, with a projected listing price of Rs 114 per share at the upper end of the price band.
The GMP trends for Agarwal Toughened Glass IPO remained constant for the initial few days and was Rs 9 when the price band was announced.
Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.
Agarwal Toughened Glass IPO Details
The Agarwal Toughened Glass IPO closed for bidding till 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 Day 2 Subscription Status
Agarwal Toughened Glass IPO was subscribed 1 times on Friday, as per the market tracking site Chittorgarh.
Qualified Institutions: 0.01 times
Non-Institutional Buyers: 0.48 times
Retail Investors: 1.79 times
Agarwal Toughened Glass: 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.
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.
