Gold Plus Glass files IPO: 5 things you should know
Gold Plus filed its initial papers with the SEBI to initiate an IPO. Here is what you should know if you are pondering about applying for their IPO.
- Total Shares
Gold Plus Glass Industry Ltd recently filed its preliminary papers with Sebi to raise funds through an initial public offering (IPO).
If you are planning on investing in the company, you should know what it does, how much it makes and whether you can make money from it.
Photo : Gold Plus
Here are five points that will give you a brief idea:
1. IPO DETAILS
Gold Plus Glass Industry aims to raise Rs 1,200 crore via the IPO. The IPO comprises of fresh issue of equity shares of up to Rs 300 crore and an offer-for-sale (OFS) of up to 1.2 crore (12,826,224) equity shares currently held by promoters and an existing shareholder.
Photo : Getty Images
So, who will sell their shares to the public in the 'Offer for Sale'? A majority of the 1.2 crore shares are currently held by the promoters:
- Promoter Suresh Tyagi will offload up to 10.19 lakh equity shares
- Promoter Jimmy Tyagi will sell upto 1.07 crore equity shares
2. WHAT DOES IT DO?
Gold Plus Glass Industry is one of the leading float glass and mirror makers in India. The company's products cater to a range of end-use industries including automotive, construction, industrial sector and solar panels.
Here's what their production process looks like:
3. THE MANAGEMENT
The company is led by Chairman Subhash Tyagi and his brother and Vice-Chairman Suresh Tyagi.
Chairman Subhash Tyagi. Photo : Gold Plus
Subhash Tyagi established the business in 1991 and is the Founder Director of the company. He has over three decades of experience in the glass industry and has previously served on the boards of many prestigious glass companies. He chaired the Architectural Glass Panel when he was the director of All India Glass Manufacturers Federation.
4. WHY DOES GOLD GLASS NEED AN IPO?
Gold Plus wants to utilise the net proceeds of the IPO for multiple purposes: to fund its debt, to fund its working capital requirements and for general corporate purposes.
5. WHO WILL MANAGE THIS IPO?
IIFL Securities, Axis Capital, Jefferies India and SBI Capital Markets are the companies backing up the IPO isssue.
Though we are yet to know when the final listing is expected, we hope it's profitable for investors.