Agarwal Toughened Glass, a company specializing in the production of tempered glass, saw an impressive debut on the NSE SME platform today. The IPO, priced at ₹108 per share, opened at ₹135, delivering a listing gain of 25% to investors. However, the stock soon corrected, settling at ₹130, resulting in a net gain of 20.37% for IPO investors.
Where the IPO Funds Will Be Utilized
The ₹62.64 crore IPO opened for subscription from November 28 to December 2 and received a strong response, with overall subscriptions reaching 9.89 times. Here’s a breakdown:
- Qualified Institutional Buyers (QIBs): Subscribed 4.49 times.
- Non-Institutional Investors (NII): Subscribed 15.17 times.
- Retail Investors: Subscribed 10.71 times.
The IPO involved the issuance of 57,99,600 new shares with a face value of ₹10 each. The company plans to use the proceeds for:
- Machinery purchases to enhance production capacity.
- Debt repayment to strengthen the balance sheet.
- Working capital requirements to support business growth.
- General corporate purposes.
About Agarwal Toughened Glass
Founded in October 2009, Agarwal Toughened Glass manufactures high-quality tempered glass. Its products cater to diverse sectors, including:
- Commercial spaces such as offices and hotels.
- Institutions, banks, and insurance firms.
- Shopping centers and diplomatic residences.
The company’s offerings include shower doors, refrigerator trays, mobile screen protectors, bulletproof glass, diving masks, and various plates and cookware.
Financial Performance
Agarwal Toughened Glass has demonstrated consistent growth:
- FY 2022: Net profit of ₹50.18 lakh.
- FY 2023: Net profit surged to ₹96.97 lakh.
- FY 2024: Net profit reached ₹8.69 crore.
- Revenue Growth: The company’s revenue has grown at a CAGR of over 8%, reaching ₹40.50 crore in FY 2024.
- H1 FY 2024-25: Recorded a net profit of ₹4.54 crore and revenue of ₹23.50 crore.
The company’s strong financial health and strategic fund utilization indicate a promising growth trajectory. Investors should monitor its performance closely as it continues to expand and innovate.