Agarwal Toughened Glass India IPO Update: Subscription, GMP & Key Details - All You Have To Know

Agarwal Toughened Glass India IPO Update: The Agarwal Toughened Glass India IPO Update reveals a mixed yet promising start for the SME IPO of Agarwal Toughened Glass Ltd. The IPO opened on Thursday and has received strong interest from retail investors, with the total subscription standing at 0.60 times as of Friday morning. This is a good sign of market interest as the IPO continues to attract attention before its closure on December 2, 2024.

The Agarwal Toughened Glass IPO is an entirely fresh issue of 58 lakh shares, with the company looking to raise ₹62.64 crore through the offering. The IPO price band has been set between ₹105 to ₹108 per share, making it accessible for retail investors who can apply for a minimum of 1,200 shares, totaling ₹1,29,600. The issue is being managed by Cumulative Capital Private Limited and the registrar for the IPO is Kfin Technologies Limited.

Agarwal Toughened Glass IPO Day 2 Subscription Status

As of 11:10 AM on Friday, the Agarwal Toughened Glass India IPO Update shows that the IPO has been subscribed 0.60 times, with retail investors leading the demand. According to the latest subscription data, retail investors have shown substantial interest, subscribing 1.09 times, indicating strong support for this offering.

Here’s a breakdown of the subscription status on Day 2:

• Qualified Institutional Buyers (QIBs): 0.01 times
• Non-Institutional Investors (NIIs): 0.24 times
• Retail Investors (RIIs): 1.09 times

Given the strong interest from retail investors, it’s expected that the subscription will rise further in the coming days, especially as we approach the IPO closing date. The Agarwal Toughened Glass IPO is currently in the book-building process, and the price band allows flexibility for both small and large investors.

Agarwal Toughened Glass IPO GMP (Grey Market Premium)

As per the latest Agarwal Toughened Glass IPO Update, the GMP (grey market premium) for this IPO is ₹9 as of 10 AM on November 29, 2024. This suggests a potential listing gain of 8.33%, with a projected listing price of ₹117 per share at the upper end of the price band. Investors can look forward to potential gains if the market conditions remain favorable on the listing date.

It’s important to note that GMP is a significant indicator of investor sentiment before the IPO listing, and an 8.33% premium indicates that investors are expecting a positive market reception for Agarwal Toughened Glass once the shares are listed on the NSE SME platform on December 5, 2024.

Agarwal Toughened Glass: Business Overview and Use of Proceeds

Agarwal Toughened Glass Ltd specializes in the manufacturing of high-quality toughened glass products. The company’s diverse product portfolio includes laminated, frosted, tinted, reflecting, clear, and double-glazed toughened glass, all of which are widely used in various industries such as construction, automotive, and electronics. Some of the key applications of Agarwal Toughened Glass’s products include:

• Shower doors
• Refrigerator trays
• Mobile screen protectors
• Bulletproof glass for diving masks
• Cookware and other plates

The company’s robust product line and diversified applications position it as a leader in the growing toughened glass industry.

The proceeds raised from the Agarwal Toughened Glass IPO will be used for purchasing machinery to enhance the company’s manufacturing capacity, repayment of borrowings, and meeting working capital requirements. The funds will also be allocated for general corporate expenses, further strengthening the company's operational capabilities.

Agarwal Toughened Glass IPO Listing Date and Allotment Details

The Agarwal Toughened Glass IPO Update also brings attention to the key dates for investors:

• IPO Open Date: November 28, 2024
• IPO Close Date: December 2, 2024
• Allotment Date: December 3, 2024
• Refunds to Non-Allottees: December 4, 2024
• Shares in Demat Accounts: December 4, 2024
• Listing Date: December 5, 2024 (on the NSE SME platform)

With the listing date fast approaching, investors are eagerly awaiting the market debut of the Agarwal Toughened Glass IPO, hoping for a solid performance on the NSE SME platform.

Agarwal Toughened Glass IPO: Price Band and Investment Details

The price band for the Agarwal Toughened Glass IPO has been fixed at ₹105 to ₹108 per share. Investors can apply for the IPO in multiples of 1,200 shares, which amounts to a minimum investment of ₹1,29,600. This price band is considered reasonable for retail investors looking to gain exposure to the SME sector.

The IPO is being conducted on the NSE Emerge platform, which is a significant milestone for the company, as it gives them access to greater visibility and liquidity in the stock market.

Agarwal Toughened Glass IPO Update: Key Takeaways

• The Agarwal Toughened Glass IPO has garnered strong interest from retail investors, with 1.09 times subscription on Day 2.
• The GMP stands at ₹9, signaling an 8.33% potential listing gain.
• The company plans to use the funds raised to expand manufacturing, reduce debt, and improve working capital.
• Shares are set to list on December 5, 2024, on the NSE SME platform.

As the IPO continues to gather momentum, experts suggest that Agarwal Toughened Glass has the potential to offer promising returns for retail investors, with the GMP indicating a solid listing gain.

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