Gold Plus Glass IPO – In preparation for an initial public offering, the company submitted the draft Red Herring Prospectus (DRHP) to SEBI on April 8, 2022. The date of the Gold Plus Glass Industry IPO is not yet announced. The IPO comprises a fresh offering of INR 300 crore and an offer to sell 12,826,224 equity shares.
Each equity share has a face value of INR 10. The promoter and investor are redistributing some of their stakes in the company through public offers. The company’s promoters, Suresh Tyagi and Jimmy Tyagi are each selling shares worth up to 1,019,995 million, and investor PI Opportunities Fund-I is selling up to 10,786,234 equity shares.
Gold Plus Glass IPO – Business Description
The second-largest float glass manufacturer in India is the Gold Plus Glass Industry, with a 16% share of the float glass manufacturing capacity in Fiscal 2021. With a wide variety of clear and value-added glass, Gold Plus Glass Industry has developed its brand and wide distribution network to become one of the industry’s top producers of float glass. The company was founded in 1991 in Delhi, India.
- The company is one of just two producers in India that can produce a wide variety of clear and value-added glass from a single facility.
- Gold Plus Glass Industry’s sizeable operations and concentration on the value-added glass segment have helped them to become one of the top players in India.
- The company captures a 30% market share of sales volume for value-added glass and a 15% market share of sales volume for clear glass in Fiscal 2021.
- The magnitude of the Gold Plus Glass Industry’s operations and focus on the value-added glass market have enabled them to rise to the top of the Indian market.
- In Roorkee, Uttarakhand, a single facility produces all the clear and value-added glass. Two float glass manufacturing lines at the 97.40-acre Roorkee facility have a combined annual capacity of 168456,250 TPA.
- They’ve built up a sizable distribution network with 1,299 business partners across India’s 24 States and four Union Territories. They also had 59 business partners in eight foreign marketplaces.
- Additionally, the company owns and manages the Kala Amb, Himachal Pradesh, the facility where they create a variety of processed glass, including toughened, heat-strengthened, ceramic insulated, PVB laminated, and bullet-resistant glass, among others.
- The products are used in a variety of end-use industries, such as the building, automotive, and industrial sectors. The products are also used in furniture, infrastructure projects, windscreens, sunroofs, and white goods as well as the outside and interior of homes and businesses.
Gold Plus Glass Industry Limited Founders and Leadership team
Subhash Tyagi, the company’s first director since September 5, 2006. Subhash Tyagi serves on the Board of the Company’s Chairman and is Full-Time Director. He served as the executive director and founder of the Federation of Safety Glass.
Suresh Tyagi serves as the company’s vice chairman and a full-time director on the board. He is one of the founding directors of the business and has in-depth expertise in glass manufacturing though has not completed his formal education.
Jimmy Tyagi is the Chief Executive Officer of the Company.
Gold Plus Glass Industry Revenue and Profit
From the fiscal year 2020 to the fiscal year 2021, total income increased by 32.57%, from INR 6,558.12 million to INR 8,694.32 million. The revenue from operations increased by 36.62% from 6,286.53 million in Fiscal 2020 to 8,525.51 million in Fiscal 2021. In Fiscal 2021, the profit after taxes for the year was INR 576.46 as opposed to a loss for the year of INR 799.00 million in Fiscal 2020. The business has seen high EBITDA margins. The company generated a positive net cash flow from operational activities of INR 691.69 million in FY2019, this figure increased to INR 3,917.39 million in FY2021.
Gold Plus Glass Industry company profile – Financial Snapshot
| All amounts in INR Million (Year ended March 31) | 2019 (Standalone) | 2020 (Standalone) | 2021 (Consolidated) |
| Revenue Operation | 7,803.83 | 6,286.53 | 8,525.51 |
| Total Income | 8,016.41 | 6,558.12 | 8,694.32 |
| EBITDA | 470.30 | 376.70 | 1,573.16 |
| Profit After Tax | (790.76) | (799.06) | 576.46 |
| Earnings Per equity Share-Diluted | (10.45) | (10.56) | 6.17 |
| Net Cash from Operating Activities | (691.69) | 867.06 | 1,304.15 |
| Debt/Equity Ratio | 2.33 | 3.85 | 2.66 |
| RoE ratio | -33.79% | -41.18% | 31.50% |
| ROCE | -1.87% | -0.82% | 12.53% |
| Return on investment | -6.35% | -6.37% | 4.86% |
| Net asset value per Equity Share (basic) (in ₹) | 30.92 | 20.37 | 28.00 |
Objective Behind the Gold Plus Glass Industry IPO
- The company is planning to repay/prepay all or certain of our borrowings. INR 200 crore is fixed for this purpose.
- INR 35 crore will be used for funding incremental working capital requirements of the Company.
- The rest of the proceeds will be used for general corporate purposes.
Gold Plus Glass Industry IPO: Do you invest?
- Gold Plus Glass is a dominant player in India with substantial entry barriers in the industry.
- Demand for float glass is expected to grow significantly at a CAGR of ~14%, from 2.6 million tonnes in Fiscal 2021 to 5.0 million tonnes in Fiscal 2026.
- A strategically positioned manufacturing facility with a large capacity and cutting-edge infrastructure is available at Gold Plus Glass.
- Gold Plus Glass has experienced promoters, a management team, and prominent investors behind them.
- The company is financially strong with positive net cash flow from operation.
- Manufacturing of Solar Glass is a growing segment of the Gold Plus Glass business.
- The industry’s expansion will help the company’s revenue expand.
- I want to invest in the Gold Plus Glass IPO for the long term.
Gold Plus Glass IPO Details
| Gold Plus Glass IPO Details | Gold Plus Glass IPO Date, Price Band and other details |
| Gold Plus Glass Industry IPO Date | Coming soon |
| Gold Plus Glass Industry IPO Price band | Coming soon |
| Gold Plus Glass Industry IPO Allotment date | Coming soon |
| Refunds Initiation date | Coming soon |
| Credit of Shares to Demat Account | Coming soon |
| Gold Plus Glass IPO Listing Date | Coming soon |
| Fresh Issue | INR 300 Crore |
| Offer for Sale | 12,826,224 Equity Shares |
| Equity Shares outstanding prior to the Offer | 75,660,333 Equity Shares |
| Maximum bid (lot size) For retail investor | |
| Minimum bid (lot size) For retail investor | Coming soon |
| Gold Plus Glass share Face Value | INR 10 per share |
| Gold Plus Glass share Listing on | BSE & NSE |
Gold Plus Glass IPO Contacts and Lead Managers
| Contact Details | Lead Managers |
| 4th Floor, Kings Mall, Sector 10, Rohini, New Delhi 110 085, Delhi, India Telephone: +91 11 6637 6000 E-mail: compliance@goldplusgroup.com Website: www.goldplusgroup.com | 1. IIFL Securities Limited 2. Axis Capital Limited 3. Jefferies India Private Limited 4. SBI Capital Markets Limited |
Gold Plus Glass IPO Allotment Status
Gold Plus Glass IPO allotment status will be available on KFin Technologies website website. To know your allotment status, get ready with your PAN number and click on this link. You may also reach out to Telephone: +91 40 6716 2222, E-mail: gpgil.ipo@kfintech.com
Gold Plus Glass IPO GMP
| Date | Gold Plus Glass IPO GMP | IPO Price |
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