The initial public offering (IPO) of Agarwal Toughened Glass India Ltd is set to close on Monday, December 2, 2024. The IPO, priced within a range of ₹105 to ₹108 per share, opened on November 28, 2024, and aims to raise ₹99.07 crore through a fresh issue of 58 lakh shares.
Subscription Status
By 11:36 AM on the final day of bidding, the IPO had received 76,38,000 bids against the 38,52,000 shares on offer:
- Retail investors: Subscribed 3.43 times
- Non-institutional investors (NII): Subscribed 1.23 times
- Qualified institutional buyers (QIBs): Subscribed 0.01 times
Grey Market Premium (GMP)
According to market observers, unlisted shares of the company were trading at a ₹7 premium in the grey market, reflecting a 6.48% increase over the issue price of ₹108 per share. This indicates a flat to modest listing. GMP represents investor sentiment and fluctuates with market trends.
Key Dates and Details
- Closing Date: December 2, 2024
- Allotment Date: Expected on December 3, 2024
- Listing Date: Tentatively scheduled for December 5, 2024, on the NSE SME platform
- Minimum Investment: Retail investors need to apply for at least 1,200 shares, requiring an investment of ₹1,29,600. For high-net-worth individuals (HNIs), the minimum is 2 lots (2,400 shares), amounting to ₹2,59,200.
About the Company
Established in October 2009, Agarwal Toughened Glass India manufactures tempered glass. In the fiscal year 2023-24, its profit after tax (PAT) rose by a remarkable 795.66%, despite a slight revenue decline of 0.25%.
IPO Management
- Book-running lead manager: Cumulative Capital Private Limited
- Registrar: Kfin Technologies Limited
- Market Maker: Nikunj Stock Brokers
The IPO has garnered attention for its financial performance and modest GMP, signaling potential interest among investors.
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