Agarwal Toughened Glass India IPO Closed
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Schedule of Agarwal Toughened Glass India
| Issue open date | 28 Nov 2024 |
| Issue close date | 02 Dec 2024 |
| UPI mandate deadline | 02 Dec 2024 (5 PM) |
| Allotment finalization | 03 Dec 2024 |
| Refund initiation | 04 Dec 2024 |
| Share credit | 04 Dec 2024 |
| Listing date | 05 Dec 2024 |
| Mandate end date | 17 Dec 2024 |
| Lock-in end date for anchor investors (50%) | 02 Jan 2025 |
| Lock-in end date for anchor investors (remaining) | 03 Mar 2025 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Agarwal Toughened Glass India
Agarwal Toughened Glass India Limited, established on October 30, 2009, transitioned to a public limited company on March 6, 2023. Initially focused on building its manufacturing capacity, it began operations by trading glass and later specialized in toughened and value-added glass products like laminated and double-glazed glass. Serving industries such as construction and automotive, the ISO 9001:2015-certified and BIS-compliant company operates exclusively in India, managing client-specific production through an experienced sales team.
Financials of Agarwal Toughened Glass India
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹62.64 crores |
| Fresh Issue | ₹62.64 crores |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Purchase machinery at the existing manufacturing unit | 9.66 (15.43%) |
| Working capital requirements | 25 (39.91%) |
| Repayment of certain Borrowing | 6.00 (9.58%) |
Strengths
- Strong brand presence with high credibility
- Experienced promoters & market adaptability
- Long-standing relationships with repeat customers
- Focus on quality assurance with ISO 9001:2015 certification
Risks
- Revenue concentration on a few key customers
- Dependency on domestic sales limits market diversification.
- Regulatory and compliance risks tied to BIS and quality standards
- Unsecured borrowings and director loans