Gold Plus Glass Industry has received the Securities and Exchange Board of India’s (SEBI's) approval to float an initial public offering (IPO). The IPO comprises a fresh issue of equity shares aggregating up to Rs 500 crore and an offer-for-sale (OFS) of up to 1.56 crore shares by promoters and investor shareholders. The equity shares of the company will be listed on the BSE and NSE.
Of Rs 500 crore proceeds, funds to the tune of Rs 400 crore will be utilised to pay debt and a portion will also be used for general corporate purposes. IIFL Securities, Axis Capital, Kotak Mahindra Capital Company and SBI Capital Markets are the book running lead managers to the issue.
Gold Plus Glass Industry is one of the leading float glassmakers in India. The company's products cater to a range of end-use industries including automotive, construction and industrial sectors, with a variety of applications.
| Company Name | CMP |
|---|---|
| Asahi India Glass | 841.80 |
| Borosil Renewables | 545.00 |
| Borosil Scientific | 120.75 |
| Haldyn Glass | 109.35 |
| La Opala R G | 183.60 |
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