Incorporated in 2018, Agarwal Float Glass India Limited is engaged in the business of trading of glass and specialized glass products. The company procures quality products from manufacturers and thereafter sells the same through the sales managers or directly to customers, as a wholesaler of glass and glass products.
The company is a crucial part of the Agarwal Group. The Group was set up by Uma Shankar Agarwal and Mahesh Kumar Agarwal in 1997 for trading ;in glass and glass products.
The products of Agarwal Float Glass India are delivered across the country. Their products are utilized in varied areas like office buildings, hotels, institutions, banks, insurance companies, shopping malls, diplomatic residences, and many others as per suitability. The product portfolio ranges between clear glass, different kinds of value-added glass products and processed glass products, of varying thicknesses.
Alongside trading of glass, the entity also offers processed glass including:
- Toughened glass
- Frosted glass
- Frosted design glass
- Leaguered glass, figure glass
- Heat-strengthened glass
- Insulated glass
- PVB laminated glass
- Bullet-resistant glass and all building glasses
Agarwal Float Glass India Limited is highly dependent on suppliers and distributors. These suppliers include Saint-Gobain India Private Limited, Sisecam Flat Glass India Private Limited, Gold Plus Glass Industry Limited, Asahi India Glass Limited, and Gujarat Guardian Limited. With the help of strong associations, the company is able to deliver high quality products and satisfy the requirements of its customers.
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31-Mar-20 | 1767.31 | 3227.43 | 8.83 | 201.3 | -0.84 | 1120.38 |
| 31-Mar-21 | 1811.87 | 3188.13 | 24.73 | 226.02 | 23.88 | 1175.3 |
| 31-Mar-22 | 1761.79 | 4216.91 | 101.68 | 327.68 | 125.54 | 1141.78 |
| 30-Sep-22 | 2177.31 | 2369.04 | 267.75 | 595.43 | 393.29 | 1167.91 |
| Amount in ₹ Lakhs |
Objects of the Issue
The Company proposes to utilize the funds which are being raised through this Issue towards the following objects:
- Funding the working capital requirements of the company
- General Corporate Purposes
Agarwal Float Glass India IPO Details
| IPO Date | Feb 10, 2023 to Feb 15, 2023 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹42 per share |
| Lot Size | 3000 Shares |
| Issue Size | 2,190,000 shares of ₹10 (aggregating up to ₹9.20 Cr) |
| Fresh Issue | 2,190,000 shares of ₹10 (aggregating up to ₹9.20 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| NII (HNI) Shares Offered | 50% of the Net Issue |
| Retail Shares Offered | 50% of the Net Issue |
| Market Maker | SMC GLOBAL SECURITIES LTD. |
| Company Promoters | Uma Shankar Agarwal and Mahesh Kumar Agarwal are the Promoters of the company. |
Agarwal Float Glass India IPO Tentative Timetable
Agarwal Float Glass India IPO opens on Feb 10, 2023, and closes on Feb 15, 2023. The Agarwal Float Glass India IPO bid date is from Feb 10, 2023 10.00 A.M. to Feb 15, 2023 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 5 PM on the issue closing day.
| Event | Tentative Date |
|---|---|
| Opening Date | Feb 10, 2023 |
| Closing Date | Feb 15, 2023 |
| Basis of Allotment | Feb 20, 2023 |
| Initiation of Refunds | Feb 21, 2023 |
| Credit of Shares to Demat | Feb 22, 2023 |
| Listing Date | Feb 23, 2023 |
Agarwal Float Glass India IPO Lot Size
The Agarwal Float Glass India IPO lot size is 3000 shares. A retail-individual investor can apply for up to 1 lots (3000 shares or ₹126,000).
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3000 | ₹126,000 |
| Retail (Max) | 1 | 3000 | ₹126,000 |
| HNI (Min) | 2 | 6,000 | ₹252,000 |
Agarwal Float Glass India IPO Promoter Holding
| Pre Issue Share Holding | 99.99% |
| Post Issue Share Holding | 69.77% |
Agarwal Float Glass India IPO Review
The company is in the trading business and fully dependent on third-party supply. Earnings for H1-FY23 raise eyebrows and concern over sustainability going forward. Though on the basis of FY23 earnings, the issue appears lucratively priced, on the basis of FY22 earnings, it is aggressively priced. Higher spending for the IPO process indicates funding arrangements. Thus, it can be termed a high-risk/low-return bet. Well-informed/cash surplus risk seekers may consider investing for the medium term. Read detail review…
Agarwal Float Glass India IPO Prospectus
Company Contact Information
Agarwal Float Glass India Limited
H-1/790, Sitapura Industrial Area Ext.,
Near Fire Bridge Office,
Jaipur – 302 022
Phone: +91 723 004 3211
Email: compliance@agarwafloat.com
Website: http://www.agarwalfloat.com/
Agarwal Float Glass India IPO Registrar
KFin Technologies Limited
Phone: 04067162222, 04079611000
Email: afgil.ipo@kfintech.com
Website: https://karisma.kfintech.com/