Gold Plus Glass Industry Limited the second-largest float glass manufacturer in India with 16% share of manufacturing capacity for float glass in Fiscal 2021. In north India, Gold Plus Glass Industry is the largest float glass manufacturer and the only company with two production lines at one location with an aggregate capacity of 1,250 tonnes per day (“TPD”). [Source: Crisil Report].
Gold Plus Glass Industry has filed its Draft Red Herring Prospectus (“DRHP”) with market regulator Securities and Exchange Board of India (“SEBI”)on 8th April 2022. The offer comprises of fresh issue of equity shares aggregating up to Rs. 300 crore (The “Fresh Issue”) and offer for sale up to 12,826,224 equity share by Selling Shareholders (The “Offer for Sale”). The company proposes to utilise the net proceeds towards funding (i) Repayment/prepayment of all or certain borrowings estimated to be Rs. 200 crore; (ii) Funding incremental working capital requirements of Company estimated to be Rs. 35 crore; and (iii) the balance amount will be utilized for General corporate purposes.
Gold Plus Glass Industry Limited significant 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.
The company commenced commercial production in 2009, and has grown its brand and expansive distribution network to become one of the leading companies in float glass manufacturing with comprehensive range of clear and value-added glass. It is among only two manufacturers in India capable of manufacturing a comprehensive range of clear and value-added glass from one location with both of the production lines being fungible which provides us with certain competitive advantages. [Source: CRISIL Report.
IIFL Securities Limited, Axis Capital Limited, Jefferies India Private Limited and SBI Capital Markets Limited are the Book Running Lead Managers.
