Agarwal Toughened Glass India Limited, a leading innovator in toughened glass and related products, is bringing its IPO to the market with a fresh issue of ₹62.63 Crores. This IPO provides an opportunity for investors to own a stake in one of the prominent players in the glass manufacturing sector.

IPO Overview

The IPO consists entirely of a fresh issue of 57.99 lakh shares. The subscription period opens on November 28, 2024, and closes on December 2, 2024. The shares are priced within a band of ₹105 to ₹108 per share, with the lot size fixed at 1,200 shares.

• Retail investors need a minimum investment of ₹1,29,600, while HNIs are required to invest at least ₹2,59,200 for two lots.
• The company's post-issue market capitalization at the upper price band will be ₹190.88 Crores.

The allotment date is tentatively set for December 3, 2024, and shares are expected to be listed on the NSE SME platform on December 5, 2024.

Lead Manager, Registrar, and Market Maker

• Book-running lead manager: Cumulative Capital Private Limited
• Registrar: KFIN Technologies Limited
• Market maker: Nikunj Stock Brokers Limited

Financial Highlights

Agarwal Toughened Glass India has demonstrated consistent growth in revenue and profitability over the years. Key metrics include:

• Revenue from operations: ₹2,349.73 Lakhs for the six months ending September 30, 2024.
• EBITDA: ₹697.50 Lakhs for the same period.
• Profit after tax (PAT): ₹453.92 Lakhs for FY24 (six months).
• Pre-issue EPS: ₹7.31
• Post-issue EPS: ₹4.91

The company's ROCE of 31.34% and RoE of 72.59% for FY24 reflect strong operational efficiency and shareholder returns.

Objectives of the IPO

The funds raised will be utilized for:

1. Purchase of machinery: ₹966.81 Lakhs for existing manufacturing units.
2. Repayment of borrowings: ₹600 Lakhs to reduce debt obligations.
3. Working capital requirements: ₹2,500 Lakhs for incremental growth.
4. General corporate expenses.

Anchor Investors and Subscription Updates

The company has secured ₹17.82 Crores from anchor investors at a price of ₹108 per share, allocating 16.50 lakh shares. As of 03:50 PM on November 28, 2024, the IPO had been subscribed 0.24 times.

GMP and Valuation

The Grey Market Premium (GMP) for the IPO stands at ₹0, reflecting cautious sentiment in the unlisted market.

The pre-issue P/E ratio of 14.77x and post-issue P/E ratio of 21.99x suggest the IPO is fully priced compared to the industry P/E of 110.70x.

How to Check Allotment Status

To check your allotment status:

1. Visit the registrar's website or NSE SME IPO page.
2. Select Agarwal Toughened Glass India IPO from the dropdown list.
3. Enter your application number, PAN, or DP Client ID.
4. Submit the details to view your allotment status.

Recommendation

Based on the company’s financials, valuations, and market sentiment, the Agarwal Toughened Glass India IPO appears fully priced. Given the lack of significant GMP and uncertain listing gains, investors are advised to carefully evaluate their objectives before participating.

The Upcoming IPOs in this week and coming weeks are Ganesh Infraworld, Suraksha Diagnostic, Property Share REIT, Rosmerta Digital, Avanse Financial and Nisus Finance.
The Current active IPO is Agarwal Toughened, Apex Ecotech, Abha Power and Steel and Rajputana Biodiesel.

For more insights into financial trends , visit our Top News Headlines. You can also explore investment opportunities in the market and apply for upcoming IPOs through our Best IPO to Apply Now section.