Rajasthan-based toughened glass manufacturer Agarwal Toughened Glass is set to debut on Dalal Street with its Rs 63-crore SME IPO. The public issue, priced between Rs 105-108 per share, will open for subscription on November 28 and close on December 2. The anchor book will launch a day earlier, on November 27.
IPO Details
- Issue Size: Fresh issue of 57.99 lakh equity shares.
- Price Band: Rs 105-108 per share.
- Retail Investor Bid Lot: Minimum and maximum of 1,200 shares, amounting to Rs 1,29,600 at the upper price band.
- Total Retail Investment Limit: Rs 2 lakh per individual investor.
- Merchant Banker: Cumulative Capital.
Business Overview
Agarwal Toughened Glass produces specialized toughened glass used in:
- Shower doors and refrigerator trays.
- Mobile screen protectors and bulletproof glass.
- Architectural doors, tables, and cookware.
The company has noted Sejal Glass and Borosil as its listed competitors, although there are no exact peers in the market.
Fund Utilization
The IPO proceeds will be allocated as follows:
- Rs 25 crore for working capital requirements.
- Rs 9.66 crore for purchasing machinery.
- Rs 6 crore for debt repayment.
- Remaining funds for general corporate expenses.
Growth Potential
With its diverse product range and increasing demand for toughened glass across industries, Agarwal Toughened Glass aims to expand its production capabilities and strengthen its market presence through this public offering.
Investors keen on SME stocks and industrial growth sectors may find this IPO an intriguing opportunity.
