Gold Plus Glass Industry files IPO papers with SEBI
Gold Plus Glass Industry Ltd has filed preliminary papers with capital markets regulator SEBI to raise funds through an IPO. According to the DRHP, the IPO comprises fresh issue of equity shares aggregating up to ₹ 300 crore and an OFS up to 12,826,224 equity shares by promoters and an existing shareholder.
The company proposes to utilise the net proceeds from the fresh issuance of equity shares towards funding debt as well as working incremental requirements and general corporate purposes.
As a part of the OFS, promoters — Suresh Tyagi and Jimmy Tyagi — will offer up to 1,019,995 equity shares each and investor PI Opportunities Fund-I will sell up to 10,786,234 equity shares.
About Gold Plus Glass
Gold Plus Glass second-largest float glass manufacturer in India with 16% share of manufacturing capacity for float glass in Fiscal 2021. Our integrated operations and focus on value-added glass segment has led us to become one of the leading players in India with 30% market share of sales volume for value-added glass and 15% market share of sales volume for clear glass in Fiscal 2021. Our products cater to a range of end use industries including automotive, construction and industrial sectors, with a variety of applications.
Gold Plus Glass are led by experienced Promoters with years of experience in the glass industry. Our Promoter, Chairman and Whole-Time Director, Subhash Tyagi and his brother Suresh Tyagi Vice Chairman and Whole-Time Director, have over three decades of experience and are leading figures in the glass industry and guide our strategic planning and growth. They started their journey in 1985 as a distributor in the glass distribution business. Further, in 1996, they expanded the business operations from being a distributor of glass products to starting a glass processing unit, and in 2009, through our Roorkee facility, entered into manufacturing of float glass.
Source: Economic Times
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