Gold Plus Glass Industry IPO
Gold Plus Glass Industry IPO is an upcoming Mainboard IPO comprising a fresh issue of up to ₹500 crore and an Offer for Sale of up to 15,667,977 equity shares.
Gold Plus Glass Industry IPO Details
Gold Plus Glass Industry IPO is an upcoming Mainboard IPO of Gold Plus Glass Industry Limited. The proposed issue comprises a fresh issue of equity shares aggregating up to ₹500 crore and an Offer for Sale of up to 15,667,977 equity shares by the selling shareholders. The company has received SEBI approval for the IPO proposal, but the price band, issue dates, lot size and listing date are yet to be announced. Gold Plus Glass is engaged in the manufacturing and sale of float glass, value-added glass and processed glass products. The company operates manufacturing facilities at Roorkee, Uttarakhand and Belgaum, Karnataka, along with a glass processing facility at Kala Amb, Himachal Pradesh. Its products serve construction, automotive and industrial applications.
Gold Plus Glass Industry IPO Timeline (Tentative)
Gold Plus Glass Industry Limited filed its DRHP with SEBI in February 2024, and SEBI approval for the proposed IPO was received on June 29, 2024. The company has not yet announced the final price band or subscription schedule.
| Event | Tentative Date |
|---|---|
| DRHP Filed | 12 February 2024 |
| SEBI Approval | 29 June 2024 |
Gold Plus Glass Industry IPO Lot Size
The Gold Plus Glass Industry IPO lot size and minimum application amount have not been announced. These details will be available once the company announces the IPO price band and minimum bid lot.
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | |||
| Retail (Max) | |||
| S-HNI (Min) | |||
| S-HNI (Max) | |||
| B-HNI (Min) |
Gold Plus Glass Industry IPO Reservation
The Gold Plus Glass Industry IPO reservation is proposed to follow the standard Mainboard allocation structure, with not more than 50% of the net offer reserved for Qualified Institutional Buyers, not less than 15% for Non-Institutional Bidders and not less than 35% for Retail Individual Bidders. The final reservation details will be available in the final offer documents.
Gold Plus Glass Industry IPO Subscription
Gold Plus Glass Industry IPO has not opened for subscription yet. Category-wise subscription figures will be updated after the IPO opens.
| Category | Subscription (times) |
|---|---|
| QIB | |
| NII | |
| RII | |
| Total |
About Gold Plus Glass Industry
Gold Plus Glass Industry Limited is a glass manufacturing company engaged in the production of clear float glass, value-added glass and processed glass. The company has developed a diversified product portfolio serving construction, automotive and industrial applications. Its products include different types of clear and value-added glass used in residential and commercial buildings, furniture, infrastructure projects, automotive applications and white goods.
The company operates manufacturing facilities at Roorkee in Uttarakhand and Belgaum in Karnataka, while its processing facility is located at Kala Amb in Himachal Pradesh. As of September 30, 2023, the company had three fungible production lines with an aggregate capacity of 2,050 tonnes per day across its manufacturing facilities. Its product portfolio included clear glass, 28 types of value-added glass and 11 types of processed glass.
Gold Plus states that it has built its business through manufacturing capabilities, a wide distribution network and an expanding portfolio of value-added glass products. The company was founded in the glass industry in 1985 and began float glass manufacturing at Roorkee in 2009. Its official website currently highlights manufacturing facilities and products serving architectural, solar and other applications.
Strengths
- Leading position in the Indian float glass industry with significant manufacturing capacity and established operations.
- Diversified product portfolio covering clear, value-added and processed glass products.
- Strategically located manufacturing facilities across Uttarakhand and Karnataka with a processing facility in Himachal Pradesh.
- Wide distribution network supporting sales across multiple regions.
- Strong industry experience with a long operating history in the glass manufacturing sector.
- Growing solar glass capability as the company expands into emerging glass applications.
Risks to Consider
- Glass manufacturing is capital intensive and requires significant investment in manufacturing facilities and technology.
- Energy and raw material costs can affect margins and profitability.
- Demand and selling prices for float glass may fluctuate with construction and industrial activity.
- High debt levels and financing requirements may affect financial flexibility.
- Capacity additions in the domestic glass industry can put pressure on selling prices and capacity utilisation.
- Expansion and stabilisation risks associated with newer manufacturing capacity may affect operating performance.
Gold Plus Glass Industry Financials (₹ Cr)
The available DRHP-based financial information shows revenue from operations of ₹1,421.93 crore and profit for the period of ₹217.15 crore in FY2023. The company reported ₹1,423.33 crore revenue and ₹248.67 crore profit in FY2022, while FY2021 revenue stood at ₹852.55 crore with profit of ₹57.65 crore.
| Period | Revenue | PAT | Total Assets | Net Worth |
|---|---|---|---|---|
| Sep 30, 2023 | ₹834.14 Cr | ₹42.48 Cr | - | ₹1,361.30 Cr |
| FY2023 | ₹1,421.93 Cr | ₹217.15 Cr | ₹2,581.25 Cr | ₹1,319.24 Cr |
| FY2022 | ₹1,423.33 Cr | ₹248.67 Cr | ₹1,655.91 Cr | ₹1,102.29 Cr |
| FY2021 | ₹852.55 Cr | ₹57.65 Cr | ₹1,143.79 Cr | ₹428.87 Cr |
KPIs & Valuation
The DRHP-based financial data reported diluted EPS of ₹21.13 for FY2023, ₹26.32 for FY2022 and ₹6.17 for FY2021. The September 2023 EPS of ₹4.13 was not annualised. The final IPO valuation cannot be calculated until the price band is announced.
Objects of the Issue
The company proposed to utilise the net proceeds from the fresh issue primarily for repayment or prepayment of all or certain outstanding borrowings and for general corporate purposes. The final allocation will be subject to the terms of the final offer documents.
- Repayment/prepayment of all or certain outstanding borrowings of the company.
- General corporate purposes.
Promoters, Lead Managers & Registrar
Gold Plus Glass Industry IPO is proposed to be managed by Axis Capital, IIFL Securities, Kotak Mahindra Capital Company and SBI Capital Markets. KFin Technologies is the registrar to the issue.
Promoters
Lead Managers (BRLM)
Registrar
| Name | KFin Technologies Limited |
|---|---|
| Website | kfintech.com |
Gold Plus Glass Industry IPO Review
Gold Plus Glass Industry has an established presence in the Indian glass manufacturing industry and a diversified portfolio covering clear, value-added and processed glass. Its manufacturing footprint across multiple locations provides a platform to serve customers across different regions and end-use industries.
The company has also expanded its manufacturing capabilities over the years and is developing its presence in solar glass and other value-added products. Its long operating history and established brand are positive factors, while the glass industry's capital intensity, energy costs and competitive environment remain important considerations.
Investors should also consider the company's debt position, capacity utilisation, future margins and the valuation at which the IPO is eventually offered. Since the price band, lot size and issue dates are not yet announced, a complete valuation-based view of the IPO will be possible only after the final offer details are available.
How to Apply
Investors can apply for the Gold Plus Glass Industry IPO through supported brokers using the ASBA facility or UPI-based IPO application process once the issue opens.
Through UPI
- Log in to your broker or trading platform.
- Go to the IPO section.
- Select Gold Plus Glass Industry IPO.
- Enter the number of lots you want to apply for.
- Enter your UPI ID.
- Check the application details carefully.
- Submit the IPO application.
- Approve the UPI mandate received in your UPI application.
- Ensure that sufficient funds are available in the linked bank account.
- Check the allotment status after the basis of allotment is finalised.
Prospectus & Documents
The Gold Plus Glass Industry IPO DRHP was dated February 9, 2024. The proposed offer consists of a fresh issue of up to ₹500 crore and an Offer for Sale of up to 15,667,977 equity shares.
Last updated Oct 6, 2026.