According to the Draft Red Herring Prospectus (DRHP), fresh shares of up to Rs 300 crore will be issued under the IPO of Gold Plus Glass Industry.
Gold Plus Glass Industry IPO: Float glass maker Gold Plus Glass Industry is going to bring its IPO. The company has filed a draft paper with the market regulator SEBI for this. According to the Draft Red Herring Prospectus (DRHP), fresh shares of up to Rs 300 crore will be issued under this IPO. At the same time, 12,826,224 equity shares will be sold under the offer for sale (OFS) by the promoters and existing shareholders of the company.
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IPO related details
As a part of the OFS, 1,019,995 equity shares will be sold by each of the promoters – Suresh Tyagi and Jimmy Tyagi. In addition, investor PI Opportunities Fund-I will be offered 10,786,234 equity shares. The company will use the proceeds from this IPO to repay the loan. Apart from this, the fund will also be used for working incremental needs and general corporate purposes.
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Know about the company
Gold Plus Glass Industry is one of the leading float glass manufacturing companies in India, accounting for 16 per cent of the manufacturing capacity in FY21. The company’s products are used in industries across the automotive, construction and industrial sectors with a wide variety of applications. IIFL Securities, Axis Capital, Jefferies India and SBI Capital Markets are the book running lead managers of the issue.
(Input-PTI)
