Fixed Price IPO | ₹9 Cr | Listed at NSE SME | Fri, Feb 10, 2023 - Wed, Feb 15, 2023
Agarwal Float Glass India IPO is a fixed price issue of ₹9.20 crores. The issue is entirely a fresh issue of 0.22 crore shares of ₹9.20 crore.
Agarwal Float Glass India IPO bidding started from Feb 10, 2023 and ended on Feb 15, 2023. The allotment for Agarwal Float Glass India IPO was finalized on Feb 20, 2023. The shares got listed on NSE SME on Feb 23, 2023.
Agarwal Float Glass India IPO price is ₹42 per share. The lot size for an application is 3,000. The minimum amount of investment required by an individual investor (retail) is ₹1,26,000 (3000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (6,000 shares), amounting to ₹2,52,000.
GYR Capital Advisors Pvt.Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue. The Market Maker of the company is SMC Global Securities Ltd..
Refer to Agarwal Float Glass India IPO RHP for detailed Information.
IPO Open
Fri, Feb 10, 2023
IPO Close
Wed, Feb 15, 2023
Issue Price
₹42 per share
Market Cap (Pre-IPO)
₹30.42 Cr
| IPO Date | 10 to 15 Feb, 2023 |
| Listed on | Thu, Feb 23, 2023 |
| Face Value | ₹10 per share |
| Issue Price | ₹42 per share |
| Lot Size | 3,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Total Issue Size | 21,90,000 shares (agg. up to ₹9 Cr) |
| Reserved for Market Maker | 1,14,000 shares SMC Global Securities Ltd. (agg. up to ₹0.4788 Cr) |
| Fresh Issue (Ex Market Maker) | 20,76,000 shares (agg. up to ₹9 Cr) |
| Net Offered to Public | 20,76,000 shares (agg. up to ₹9 Cr) |
| Share Holding Pre Issue | 50,53,488 shares |
| Share Holding Post Issue | 72,43,488 shares |
| NSE Symbol | AGARWALFT |
| ISIN | INE0MLA01012 |
Agarwal Float Glass India IPO comprises a total issue size of 21,90,000 shares. The net offer to the public is 20,76,000 shares, after excluding 1,14,000 shares allotted on a firm basis. Of the Net offer 10,38,000 (50.00%) allocated to NII 10,38,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 10,38,000 | 50.00% | 47.40% |
| Retail Shares Offered | 10,38,000 | 50.00% | 47.40% |
| Firm Reservations | |||
| Market Maker Shares Offered | 1,14,000 | 5.21% | |
| Total Shares Offered | 21,90,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 3,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3,000 | ₹1,26,000 |
| Retail (Max) | 1 | 3,000 | ₹1,26,000 |
| HNI (Min) | 2 | 6,000 | ₹2,52,000 |
Incorporated in 2018, Agarwal Float Glass India Limited is engaged in the business of trading of glass and specialized glass products. The company procures quality products from manufacturers and thereafter sells the same through the sales managers or directly to customers, as a wholesaler of glass and glass products.
The company is a crucial part of the Agarwal Group. The Group was set up by Uma Shankar Agarwal and Mahesh Kumar Agarwal in 1997 for trading ;in glass and glass products.
The products of Agarwal Float Glass India are delivered across the country. Their products are utilized in varied areas like office buildings, hotels, institutions, banks, insurance companies, shopping malls, diplomatic residences, and many others as per suitability. The product portfolio ranges between clear glass, different kinds of value-added glass products and processed glass products, of varying thicknesses.
Alongside trading of glass, the entity also offers processed glass including:
Agarwal Float Glass India Limited is highly dependent on suppliers and distributors. These suppliers include Saint-Gobain India Private Limited, Sisecam Flat Glass India Private Limited, Gold Plus Glass Industry Limited, Asahi India Glass Limited, and Gujarat Guardian Limited. With the help of strong associations, the company is able to deliver high quality products and satisfy the requirements of its customers.
| Period Ended | 30 Sep 2022 | 31 Mar 2022 | 31 Mar 2021 | 31 Mar 2020 |
|---|---|---|---|---|
| Assets | 21.77 | 17.62 | 18.12 | 17.67 |
| Total Income | 23.69 | 42.17 | 31.88 | 32.27 |
| Profit After Tax | 2.68 | 1.02 | 0.25 | 0.09 |
| NET Worth | 5.95 | 3.28 | 2.26 | 2.01 |
| Reserves and Surplus | 3.93 | 1.26 | 0.24 | -0.01 |
| Total Borrowing | 11.68 | 11.42 | 11.75 | 11.20 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding the working capital requirements of the company | 6.25 |
| 2 | General Corporate Purposes | 0.73 |
| KPI | |
|---|---|
| ROE | 18.36 |
| ROCE | 16.26 |
| Debt/Equity | 3.48 |
| RoNW | 31 |
| PAT Margin | 2.42% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 5.03 | |
| P/E (x) | 5.68 | |
| Promoter Holding | 99.99% | 69.77% |
| Market Cap | ₹30.42 Cr. |
The Agarwal Float Glass India IPO is subscribed 5.16 times on February 15, 2023 7:00:00 PM (Day 4). The public issue subscribed 7.2 times in the retail category, [.] times in the QIB category, and 3.13 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 3.13 | 10,38,000 | 32,49,000 |
| Retail | 7.2 | 10,38,000 | 74,70,000 |
| Total | 5.16 | 20,76,000 | 1,07,19,000 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Issue Management fees including Merchant Banking fees and Market Making fees, Underwriting fees and payment to other intermediaries such as Legal Advisors, Registrars and other out of pocket expenses | 2.11 |
| 2 | Advertising and Marketing Expenses | 0.02 |
| 3 | Fees payable to the to the Regulators including stock exchange(s) | 0.05 |
| 4 | Printing & Stationery, Distribution, Postage, etc. | 0.01 |
| 5 | Brokerage and selling commission | 0.02 |
| 6 | Other Expenses (Banker’s to the Issue, Professional fees etc.) | 0.02 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹42.00 |
| Open | ₹44.00 |
| Low | ₹42.00 |
| High | ₹44.50 |
| Last Trade | ₹44.05 |
Lead Manager Reports
Agarwal Float Glass India IPO is a SME IPO of 21,90,000 equity shares of the face value of ₹10 aggregating up to ₹9 Crores. The issue is priced at ₹42 per share. The minimum order quantity is 3000.
The IPO opens on Fri, Feb 10, 2023, and closes on Wed, Feb 15, 2023.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Agarwal Float Glass India IPO using UPI as a payment gateway. Zerodha customers can apply in Agarwal Float Glass India IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Agarwal Float Glass India IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Agarwal Float Glass India IPO opens on Fri, Feb 10, 2023 and closes on Wed, Feb 15, 2023.
Agarwal Float Glass India IPO lot size is 3000, and the minimum amount required for application is ₹1,26,000.
You can apply in Agarwal Float Glass India IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Agarwal Float Glass India IPO will be done on Monday, February 20, 2023, and the allotted shares will be credited to your demat account by Wed, Feb 22, 2023. Check the Agarwal Float Glass India IPO allotment status.
The Agarwal Float Glass India IPO listing date is on Thu, Feb 23, 2023.
