Float glassmaker Gold Plus Glass Industry and engineering results provider Uniparts India have entered capital requests controller Sebi’s blessing to raise finances through original public immolations (IPOs). The two companies, which had filed primary IPO papers with the Securities Exchange Board of India (Sebi) in April, attained observation letters from the controller during September 22- 23, an update with the requests watchdog showed on Monday.
In Sebi’s parlance, the controller’s observation implies its go- ahead to launch an original share- trade. Going by the draft papers, Gold Plus Glass Industry’s IPO comprises a fresh issue of equity shares adding up to Rs 300 crore and an offer for trade (OFS) up to 1,28,26,224 equity shares by promoters and being shareholders. As a part of the OFS, promoters– Suresh Tyagi and Jimmy Tyagi– will offer up to 10,19,995 equity shares each and investor PI openings Fund I’ll vend up to 1,07,86,234 equity shares. The company proposes to use net proceeds from the fresh allocation of equity shares towards funding debt, working incremental conditions and general commercial purposes.
Gold Plus Glass Industry is one of the leading pier glass makers in India with a 16 per cent share of manufacturing capacity in financial 2021. The company’s products feed to a range of end- use diligence, including automotive, construction and artificial sectors, with a variety of operations. The original share- trade of Uniparts India is entirely an OFS of 1,57,31,942 equity shares by protagonist group realities and being investors, according to the draft papers.
Those offering shares in the OFS are protagonist group realities– The Karan Soni 2018 CG- NG Nevada Trust, The Meher Soni 2018 CG- NG Nevada Trust, Pamela Soni– and investors Ashoka Investment effects Ltd and Ambadevi Mauritius Holding Ltd. Since the IPO would be entirely an OFS, the company won’t admit any proceeds from the public issue.
This would be the company’s third attempt to go public. before, Uniparts had filed its IPO papers with Sebi in December 2018 and in September 2014. It also attained the controller’s concurrence to launch the IPO on two occasions but didn’t go ahead with the original share trade. Uniparts India is a global manufacturer of finagled systems and results. It’s one of the leading suppliers of systems and factors for the off- trace request in husbandry and construction, forestry and mining and aftermarket sectors on account of its presence across over 25 countries.
About Gold Plus Glass Industry Limited
We are the 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 have 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.
We 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.
Subhash Tyagi’s experience across all the verticals of glass industry has helped our Company in creating a wide distribution network due to his experience in dealing with retailers, distributors and processors. He was a founder member of Federation of Safety Glass and was also twice elected the chairman of Architectural Glass Panel at the All-India Glass Manufacturers Federation. He has also received the youngest entrepreneur award and pride of India award for his achievements in glass industry.
About Uniparts India
Uniparts is an Indian based global manufacturer of engineered systems and solutions. The Group is a leading supplier of systems and components for the off-highway market and operates out of Six manufacturing facilities and four warehousing locations across US, Europe and India with its products reaching 25 countries.
We are a global manufacturer of engineered systems and solutions and are one of the leading suppliers of systems and components for the off-highway market in the agriculture, construction forestry & mining (CFM) and aftermarket sectors on account of our presence across over 25 countries. We provide comprehensive solutions and manufacture high-quality, critical products and components for Off Highway Vehicles (OHV) industry including complete assemblies of precision engineered products and end-to-end solutions ranging from product conceptualization, design, prototyping, testing, development and assembly to customized packaging and delivery.
Our product portfolio includes core product verticals of 3-point linkage systems (3PL) and precision machined parts (PMP) as well as adjacent product verticals of power take off, fabrications and hydraulic cylinders or components thereof. We serve OHV players including OEMs and aftermarket retail store chains, through our global business model based on our dual-shore integrated manufacturing, warehousing and supply chain management systems and solutions.