Agarwal Toughened Glass India IPO Day 2 Updates: Key Highlights, Subscription Status, and Insights

Agarwal Toughened Glass India specializes in manufacturing toughened glass and value-added glass products such as laminated, frosted, tinted, and double-glazed glass, catering to industries like construction, automotive, and architecture. Certified with ISO 9001:2015 and meeting BIS standards, the company serves diverse applications, including residential and commercial interiors, exteriors, and safety-critical uses within India.

Agarwal Toughened Glass India IPO Day 2 Subscription Status 

(November 29, 2024, End of Day)

On the second day of bidding, the Agarwal Toughened Glass India IPO was subscribed to 0.99 times the total number of shares available. 

• The Non-Institutional Investors (NIIs) segment recorded a subscription of 0.47 times its allotted quota. 
• The Retail Investors category subscribed 1.77 times its allocation. 
• The Qualified Institutional Buyers (QIBs) segment saw subscriptions, with 0.01 times its share taken up.

Day 1 Subscription Status

The Agarwal Toughened Glass India IPO achieved a subscription at 0.39 times the shares offered.

• Retail investors: 0.73 times.
• Non-institutional investors: 0.12 times.
• Qualified institutional buyers: 0.01 times.

IPO Details

• Company Name: Agarwal Toughened Glass India Limited
• IPO Type: SME IPO
• IPO Open Date: 28 November 2024
• IPO Close Date: 2 December 2024
• IPO Listing Date: 5 December 2024
• Issue Size: ₹62.64 Crores
• Face Value: ₹10 Per Share
• Price Band: ₹105 to ₹108 Per Share
• Market Lot: 1200 shares
• Listing Platform: NSE SME
• Lead Manager: Cumulative Capital Private
• Registrar: KFin Technologies
• Basis of Allotment: 3 December 2024
• Refunds: 4 December 2024
• Credit to Demat Account: 4 December 2024

Investor Category Shares Offered

Utilization of IPO Proceeds

The objectives of the IPO include the purchase of machinery, repayment of borrowings, funding for working capital requirements, and meeting general corporate purposes.

Company Overview

The company was incorporated with the primary objective of becoming a leading manufacturer of toughened glass. Its journey began with acquiring land through a leasing agreement with RIICO on June 27, 2010, followed by obtaining approvals from various government authorities to build a factory.

The company specializes in producing toughened glass by processing float glass into value-added products. It offers a variety of toughened glasses in different thicknesses and sizes, such as laminated, frosted, tinted, reflective, clear, and double-glazed options. These products are widely used in applications demanding strength and safety, including architectural elements, shower doors, mobile screen protectors, and bulletproof glass. Toughened glass also caters to sectors like construction, automotive, and industrial industries and is extensively used in residential and commercial buildings, hospitals, airports, and shopping centers.

The company operates solely within India, supplying toughened glass to various sectors, including office buildings, hotels, institutions, and shopping centers.

Financials

• Reported revenue of Rs 38.33 crore in FY24, a -4.06% year-on-year drop from Rs 39.95 crore in the previous fiscal year.
• The company’s profit after tax increased by 795.89% to Rs 8.69 crore in FY24 from Rs 0.97 crore in FY23.

Key Ratios

Disclaimer: Investing in SME IPOs involves a high degree of risk. Such investments may be suitable only for investors with a high-risk tolerance and the ability to bear potential losses. Perform thorough due diligence and consult a financial advisor before investing. Invest wisely and at your own discretion.