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Agarwal Toughened Glass India Ltd IPO
Status: Closed
Overview
IPO date
28 Nov 2024 to 02 Dec 2024
Face value
₹ 10 per share
Price
₹ 105 to ₹108 per share
Issue Size
5799600 shares
(aggregating up to ₹ 62.64 Cr)
(aggregating up to ₹ 62.64 Cr)
Allotment Date
03 Dec 2024
Listing at
NSE
Issue type
Book Building - SME
Sector
Glass & Glass Products
Objectives of Agarwal Toughened Glass India Ltd IPO
Initial public offer of 57,99,600 equity shares of face value of Rs. 10/- each ("Equity Shares") of the company at an issue price of Rs. 108/- per equity share (including a share premium of Rs. 98/- per equity share) for cash, aggregating to Rs. 62.64 crores ("Public Issue") out of which 2,97,600 equity shares of face value of Rs. 10/- each, at an issue price of Rs. 108/- per equity share for cash, aggregating to Rs. 3.21 crores was reserved for subscription by the market maker to the issue (the "Market Maker Reservation Portion"). The public issue less market maker reservation portion i.e. net issue of 55,02,000 equity shares of face value of Rs. 10/- each, at an issue price of Rs. 108/- per equity share for cash, aggregating to Rs. 59.42 crores is hereinafter referred to as the "Net Issue". The public issue and net issue will constitute 32.81 % and 31.13 % respectively of the post-issue paid-up equity share capital of the company.
Objectives of Agarwal Toughened Glass India Ltd IPO
Initial public offer of 57,99,600 equity shares of face value of Rs. 10/- each ("Equity Shares") of the company at an issue price of Rs. 108/- per equity share (including a share premium of Rs. 98/- per equity share) for cash, aggregating to Rs. 62.64 crores ("Public Issue") out of which 2,97,600 equity shares of face value of Rs. 10/- each, at an issue price of Rs. 108/- per equity share for cash, aggregating to Rs. 3.21 crores was reserved for subscription by the market maker to the issue (the "Market Maker Reservation Portion"). The public issue less market maker reservation portion i.e. net issue of 55,02,000 equity shares of face value of Rs. 10/- each, at an issue price of Rs. 108/- per equity share for cash, aggregating to Rs. 59.42 crores is hereinafter referred to as the "Net Issue". The public issue and net issue will constitute 32.81 % and 31.13 % respectively of the post-issue paid-up equity share capital of the company.
Agarwal Toughened Glass India Ltd IPO Strategy
- Continue to invest in infrastructure.
- Expand our current business relationships.
- Focus on consistently meeting quality standards.
- Improving operational efficiencies.
About Agarwal Toughened Glass India Ltd
Agarwal Toughened Glass India Ltd was incorporated as 'Agarwal Toughened Glass India Private Limited', pursuant to Certificate of Incorporation dated October 30, 2009, issued by the Registrar of Companies, Rajasthan. Subsequently, Company was converted into Public Limited and the name of Company was changed from 'Agarwal Toughened Glass India Private Limited' to 'Agarwal Toughened Glass India Limited' and had received Certificate of Incorporation dated March 06, 2023, issued by the Registrar of Companies, Jaipur, Rajasthan.
From incorporation date till 2015, the Company was under the process of setting up its factory unit. From 2016 onwards, it started their 1st factory unit and the 2nd manufacturing unit started in 2022. Within the factory unit 1, float glass is simply converted into toughened glass and within factory unit 2, toughened glass is then converted into other variety of value added toughened glasses. These products fall under industries including construction, automotive, and industrial sectors, with a variety of applications such as exterior and interior spaces of residential and commercial buildings.
The Company is in the business of manufacturing toughened glass. Their product consists of toughened value addition glasses which are of various thickness and sizes. The toughened value addition glasses are obtained after processing the float glass. After processing the toughened glass, variety of glasses are further obtained such as clear toughened glass, laminated toughened glass, reflective toughened glass, tinted toughened glass, double glazing glass and frosted toughened glass.
As a result of its safety and strength, toughened glass is used in a variety of demanding applications including passenger vehicle windows, shower doors, architectural glass doors and tables, refrigerator trays, mobile screen protectors, bulletproof glass for diving masks and various types of plates and cookware etc. Also it is commonly used in doors, facades, staircases, balustrades and as partitions in the shopping malls, hospitals, airports, residential apartments, commercial apartments building etc.
The Company propose Public Offer by raising equity funds amounting to Rs 48.39 Crores and by issuing 50,40,000 Equity Shares through Fresh Issue.
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T&C*
Strengths vs Risks of Agarwal Toughened Glass India Ltd
Know the pros & cons
Strengths
Continue to invest in infrastructure.- Expand our current business relationships.
- Focus on consistently meeting quality standards.
- Improving operational efficiencies.
- Strong brand presence in Indian Market.
- A combination of experience and expertise.
- Long Standing Relationship with our customers.
- Consistent focus on quality.
- Strong Risk Management.
Risks
- The company depends on a few customers of its products, for a significant portion of the company's revenue, and any decrease in revenues or sales from any one of its key customers may adversely affect the company's business and results of operations.
- The company generally do business with its customers on purchase order basis and does not enter into long term contracts with them. Its inability to maintain relationships with the company customers could have an adverse effect on its business, prospects, results of operations and financial condition.
- If the company is unable to attract new clients or retain its existing clients or default in payments, the growth of its business and cash flows will be adversely affected.
- The company is dependent upon few suppliers for the material requirements of its business. Further, the company does not have definitive agreements or fixed terms of trade with most of its suppliers. Failures to successfully leverage its relationships with existing suppliers or to identify new suppliers could adversely affect its business operations.
- The commercial success of its products depends to a large extent on the success of the products of its end use customers. If the demand for the end use products in which the company products are used as a raw materials declines, it could have a material adverse effect on its business, financial condition and results of operations.
- Its manufacturing units and the company operations are geographically concentrated in Rajasthan. Consequently, the company is exposed to risks from economic, regulatory and other developments in the region which could have an adverse effect on its business, results of operations and financial condition. Further, its continued operations are critical to the company's business and any shutdown of its manufacturing units may adversely affect the company's business, results of operations and financial condition.
- The company is dependent on its manufacturing units, and any loss, or shutdown, or under- utilization of the production capacities of its manufacturing units may have an adverse effect on its business, financial condition and results of operations.
- Manufacturing of glass involve hazardous processes that can cause personal injury and loss of life, severe damage to and destruction of property and equipment, which could result in incurring material liabilities, loss of revenues and increased expenses.
- The company has experienced growth in the previous years on account of diversified product mix, which may not continue in the future and accordingly, its revenues may decline.
- The Company is yet to place orders for 100% towards purchase of plant and machinery. Any delay in placing orders or procurement of such plant and machinery may further delay the schedule of implementation and increase the cost of commissioning the manufacturing unit.
- Any failures in its quality control processes may adversely affect the company's business, results of operations and financial condition. Its may face product liability claims and legal proceedings if the quality of the company products does not meet its customers' expectations.
- Any delays and/or defaults in payments could result in increase of working capital investment and/or reduction of the Company's profits, thereby affecting its operation and financial condition. The Company requires significant amount of working capital for a continuing growth. Its inability to meet its working capital requirements may adversely affect its results of operations.
- There have been instances of delayed filings and erroneous filings of certain forms which were required to be filed as per the reporting requirements under the Companies Act, 2013 to ROC.
- Its Group Companies have conflicts of interest as they are engaged in similar business and may compete with the company.
- Its Promoters and Directors have extended personal guarantees with respect to various loan facilities availed by the Company. Revocation of any or all of these personal guarantees may adversely affect its business operations and financial condition.
- If the company is not able to obtain, renew or maintain its statutory and regulatory licenses, registrations and approvals required to operate its business, it may have a material adverse effect on its business, results of operations and financial condition.
- The company is dependent on information technology systems in carrying out its business activities and it forms an integral part of the company's business. Further, if the company is unable to adapt to technological changes and successfully implement new technologies or if its face failures of its information technology systems, the company may not be able to compete effectively which may result in higher costs and would adversely affect its business and results of operations.
- The company is dependent on third party transportation providers for delivery of raw materials to it from its suppliers and delivery of the company products to its customers. The company has not entered into any formal contracts with its transport providers and any failures on part of such service providers to meet their obligations could adversely affect its business, financial condition and results of operation.
- The company does not own the premises in which its registered office and factory units are located and the same are on lease arrangement. Any termination of such lease/license and/or non- renewal thereof and attachment by Property Owner could adversely affect its operations.
- The company has working capital requirements. If its experience insufficient cash flows to make required payments on its debt or fund working capital requirements, there may be an adverse effect on its results of operations.
- Information relating to its installed capacities and the historical capacity utilization of the company factory units included in this Draft Red Herring Prospectus is based on various assumptions and estimates and future production and capacity utilization may vary.
- Some of its Group Companies are engaged in the same line of business to that of the Company and may have incurred losses in the past. There are no non-compete agreements between the Company and Promoter Group Entities and/ Promoter Group Members. However, the company cannot assure that its Promoter and Promoter Group members will not favour the interests of such entities over its interest or that the said entities will not expand which may increase its competition and may adversely affect business operations and financial condition of the Company.
- Its may be able to sufficiently protect, or continue the company intellectual property and other proprietary rights.
- Unsecured loans taken by the Company can be recalled by the lenders at any time.
- Industry related data is taken from online sources and therefore may be incorrect or inaccurate.
- Its financing agreements contain covenants that limit the company flexibility in operating its business. The company inability to meet the company obligations, including financial and other covenants under its debt financing arrangements could adversely affect its business, results of operations and financial condition.
- The company has in the past entered into related party transactions and may continue to do so in the future.
- Its insurance coverage may not be adequate.
- The Company had negative cash flow from certain activity in recent fiscals, details of which are given below.
- There have been several instances of delay/ default in payment of statutory dues pertains to Goods Service Tax (GST) and Employees Provident Fund (EPF) and filing of statutory returns by the Company in the past.
- There are certain outstanding legal proceeding involving the Company, Promoter, Directors and Promoter Group Members which may adversely affect its business, financial condition and results of operations.
- The company intend to use a portion of the Net Proceeds to prepay / repay certain loan facilities.
- The company is dependent on a number of key employees, including its senior management, and the loss of or the company inability to attract or retain such persons with specialized technical know-how could adversely affect its business, results of operations, cash flows and financial condition.
- Inability to meet the quality and quantity standard norms prescribed by the central and state governments could adversely impact the sales of its products, in particular the company toughen glass products, being banned or suspended or becoming subject to significant compliance costs, which could have a material adverse effect on its business growth and prospects, results of operations, financial condition, and cash flows.
- Improper storage and handling of raw materials and finished products may cause damage to its inventory leading to an adverse effect on the company business, results of operations and cash flows.
- If the company is unable to establish and maintain an effective system of internal controls and compliances, its business and reputation could be adversely affected.
- The company has significant power requirements for continuous running of its manufacturing unit. Any disruption to the company operations on account of interruption in power supply or any irregular or significant hike in power tariffs may have an effect on its business, results of operations and financial condition.
- Its Promoters, Directors and Key Managerial Personnel have interests in the Company other than
reimbursement of expenses incurred or normal remuneration or benefits.
- Its Promoters and members of the Promoter Group have significant control over the Company and have the ability to direct its business and affairs; their interests may conflict with your interests as a shareholder.
- The average cost of acquisition of Equity Shares held by our Promoters could be lower than the Issue Price.
- Its failures to accurately forecast and manage inventory could result in an unexpected shortfall and/or surplus of products, which could harm its business.
- Orders placed by customers may be delayed, modified, cancelled or not fully paid for by its customers, which may have an adverse effect on the company's business, financial condition and results of operations.
- The company has not made any alternate arrangements for meeting its capital requirements for the Objects of the Issue. Further, the company has not identified any alternate source of financing the "Objects of the Issue'. Any shortfall in raising / meeting the same could adversely affect its growth plans, operations and financial performance.
- Its success largely depends upon the knowledge and experience of the company Promoters, Directors, its Key Managerial Personnel and the company Senior Management. Loss of any of its Directors, key managerial personnel and the company Senior Management or its ability to attract and retain them could adversely affect its business, operations and financial condition.
- The company operates in a highly competitive industry, which could limit its ability to grow.
- The company could be harmed by employee misconduct or errors that are difficult to detect and any such incidences could adversely affect its financial condition, results of operations and reputation.
- The industry in which the company operates, requires labour/ manpower and its operations may be materially adversely affected by strikes, work stoppages or increased wage demands by its employees or any other kind of disputes with the company employees.
- Delay in raising funds from the IPO could adversely impact the implementation schedule.
- There is no monitoring agency appointed by the Company and the deployment of funds is at the discretion of its Management and the company Board of Directors, though it shall be monitored by its Audit Committee.
- Any variation in the utilization of the Net Proceeds as disclosed in this Draft Red Herring Prospectus shall be subject to certain compliance requirements, including prior Shareholders' approval.
- The requirements of being a listed company may strain its resources.
- The Equity Shares have never been publicly traded and the Issue may not result in an active or liquid market for the Equity Shares.
- There is no guarantee that the Equity Shares issued pursuant to the Issue will be listed on the SME Platform of National Stock Exchange of India Limited in a timely manner or at all.
- There is no existing market for its Equity Shares, and the company does not know if one will develop to provide you with adequate liquidity. Further, an active trading market for the Equity Shares may not develop and the price of the Equity Shares may be volatile.
- The price of the Equity Shares may be highly volatile after the Issue.
- You will not be able to sell immediately on the Stock Exchanges any of the Equity Shares you purchase in the Issue.
- There are restrictions on daily movements in the trading price of the Equity Shares, which may adversely affect a shareholder's ability to sell Equity Shares or the price at which Equity Shares can be sold at a particular point in time.
- The price of the Equity Shares may be volatile, which could result in substantial losses for investors acquiring the Equity Shares in the Issue.
- Any future issuance of Equity Shares, or convertible securities or other equity-linked securities by the Company may dilute your shareholding and any sale of Equity Shares by its Promoters or members of the company Promoter Group may adversely affect the trading price of the Equity Shares.
- Sale of Equity Shares by its Promoters or other significant shareholder(s) may adversely affect the trading price of the Equity Shares.
- Rights of shareholders under Indian laws may be more limited than under the laws of other jurisdictions.
Agarwal Toughened Glass India Ltd Peer Comparison
Understand the company’s industry standing
Agarwal Toughened Glass India Ltd
Sejal Glass Ltd
Borosil Ltd
Face Value
10
10
1
Standalone / Consolidated
Consolidated
Consolidated
Consolidated
Total Income Rs. Cr.
22.2872
114.3211
490.7009
EPS-Basis
3.82
3.77
2.36
EPS-Diluted
3.82
3.77
2.36
NAV Per Share
17.56
32.31
63.46
P/E-Basic EPS
---
150.19
71.21
P/E-Diluted EPS
---
---
---
RONW(%)
21.77
14.44
3.64
Latest NAV Period
---
---
---
Latest NAV
---
---
---
How to check the allotment status of Agarwal Toughened Glass India Ltd IPO?
Follow the steps
Open link to the registrar using this URL (https://evault.kfintech.com/ipostatus/).
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The IPO opens on 28 Nov 2024 & closes on 02 Dec 2024.
Agarwal Toughened Glass India Ltd was incorporated as 'Agarwal Toughened Glass India Private Limited', pursuant to Certificate of Incorporation dated October 30, 2009, issued by the Registrar of Companies, Rajasthan. Subsequently, Company was converted into Public Limited and the name of Company was changed from 'Agarwal Toughened Glass India Private Limited' to 'Agarwal Toughened Glass India Limited' and had received Certificate of Incorporation dated March 06, 2023, issued by the Registrar of Companies, Jaipur, Rajasthan.
From incorporation date till 2015, the Company was under the process of setting up its factory unit. From 2016 onwards, it started their 1st factory unit and the 2nd manufacturing unit started in 2022. Within the factory unit 1, float glass is simply converted into toughened glass and within factory unit 2, toughened glass is then converted into other variety of value added toughened glasses. These products fall under industries including construction, automotive, and industrial sectors, with a variety of applications such as exterior and interior spaces of residential and commercial buildings.
The Company is in the business of manufacturing toughened glass. Their product consists of toughened value addition glasses which are of various thickness and sizes. The toughened value addition glasses are obtained after processing the float glass. After processing the toughened glass, variety of glasses are further obtained such as clear toughened glass, laminated toughened glass, reflective toughened glass, tinted toughened glass, double glazing glass and frosted toughened glass.
As a result of its safety and strength, toughened glass is used in a variety of demanding applications including passenger vehicle windows, shower doors, architectural glass doors and tables, refrigerator trays, mobile screen protectors, bulletproof glass for diving masks and various types of plates and cookware etc. Also it is commonly used in doors, facades, staircases, balustrades and as partitions in the shopping malls, hospitals, airports, residential apartments, commercial apartments building etc.
The Company propose Public Offer by raising equity funds amounting to Rs 48.39 Crores and by issuing 50,40,000 Equity Shares through Fresh Issue.
Agarwal Toughened Glass India Ltd IPO will close on 02 Dec 2024.
- Continue to invest in infrastructure.
- Expand our current business relationships.
- Focus on consistently meeting quality standards.
- Improving operational efficiencies.
- Strong brand presence in Indian Market.
- A combination of experience and expertise.
- Long Standing Relationship with our customers.
- Consistent focus on quality.
- Strong Risk Management.
| S.No | Promoters Name | Pre Issue Shares | Pre Issue Percentage | Post Issue Shares | Post Issue Percentage |
|---|---|---|---|---|---|
| 1 | Anita Agarwal | 1712500 | 14.42 | 1712500 | 9.69 |
| 2 | Mahesh Kumar Agarwal | 3383250 | 28.49 | 3383250 | 19.14 |
| 3 | Uma Shankar Agarwal | 442750 | 3.73 | 442750 | 2.51 |
| 4 | Sharda Agarwal | 4400000 | 37.05 | 4400000 | 24.89 |
| 5 | Sharda Devi Sanwarmal Agarwal | 825000 | 6.95 | 825000 | 4.67 |
| 6 | Mayur Agarwal | 387500 | 3.26 | 387500 | 2.19 |
| 7 | Palak Agarwal | 150000 | 1.26 | 150000 | 0.85 |
- The company depends on a few customers of its products, for a significant portion of the company's revenue, and any decrease in revenues or sales from any one of its key customers may adversely affect the company's business and results of operations.
- The company generally do business with its customers on purchase order basis and does not enter into long term contracts with them. Its inability to maintain relationships with the company customers could have an adverse effect on its business, prospects, results of operations and financial condition.
- If the company is unable to attract new clients or retain its existing clients or default in payments, the growth of its business and cash flows will be adversely affected.
- The company is dependent upon few suppliers for the material requirements of its business. Further, the company does not have definitive agreements or fixed terms of trade with most of its suppliers. Failures to successfully leverage its relationships with existing suppliers or to identify new suppliers could adversely affect its business operations.
- The commercial success of its products depends to a large extent on the success of the products of its end use customers. If the demand for the end use products in which the company products are used as a raw materials declines, it could have a material adverse effect on its business, financial condition and results of operations.
- Its manufacturing units and the company operations are geographically concentrated in Rajasthan. Consequently, the company is exposed to risks from economic, regulatory and other developments in the region which could have an adverse effect on its business, results of operations and financial condition. Further, its continued operations are critical to the company's business and any shutdown of its manufacturing units may adversely affect the company's business, results of operations and financial condition.
- The company is dependent on its manufacturing units, and any loss, or shutdown, or under- utilization of the production capacities of its manufacturing units may have an adverse effect on its business, financial condition and results of operations.
- Manufacturing of glass involve hazardous processes that can cause personal injury and loss of life, severe damage to and destruction of property and equipment, which could result in incurring material liabilities, loss of revenues and increased expenses.
- The company has experienced growth in the previous years on account of diversified product mix, which may not continue in the future and accordingly, its revenues may decline.
- The Company is yet to place orders for 100% towards purchase of plant and machinery. Any delay in placing orders or procurement of such plant and machinery may further delay the schedule of implementation and increase the cost of commissioning the manufacturing unit.
- Any failures in its quality control processes may adversely affect the company's business, results of operations and financial condition. Its may face product liability claims and legal proceedings if the quality of the company products does not meet its customers' expectations.
- Any delays and/or defaults in payments could result in increase of working capital investment and/or reduction of the Company's profits, thereby affecting its operation and financial condition. The Company requires significant amount of working capital for a continuing growth. Its inability to meet its working capital requirements may adversely affect its results of operations.
- There have been instances of delayed filings and erroneous filings of certain forms which were required to be filed as per the reporting requirements under the Companies Act, 2013 to ROC.
- Its Group Companies have conflicts of interest as they are engaged in similar business and may compete with the company.
- Its Promoters and Directors have extended personal guarantees with respect to various loan facilities availed by the Company. Revocation of any or all of these personal guarantees may adversely affect its business operations and financial condition.
- If the company is not able to obtain, renew or maintain its statutory and regulatory licenses, registrations and approvals required to operate its business, it may have a material adverse effect on its business, results of operations and financial condition.
- The company is dependent on information technology systems in carrying out its business activities and it forms an integral part of the company's business. Further, if the company is unable to adapt to technological changes and successfully implement new technologies or if its face failures of its information technology systems, the company may not be able to compete effectively which may result in higher costs and would adversely affect its business and results of operations.
- The company is dependent on third party transportation providers for delivery of raw materials to it from its suppliers and delivery of the company products to its customers. The company has not entered into any formal contracts with its transport providers and any failures on part of such service providers to meet their obligations could adversely affect its business, financial condition and results of operation.
- The company does not own the premises in which its registered office and factory units are located and the same are on lease arrangement. Any termination of such lease/license and/or non- renewal thereof and attachment by Property Owner could adversely affect its operations.
- The company has working capital requirements. If its experience insufficient cash flows to make required payments on its debt or fund working capital requirements, there may be an adverse effect on its results of operations.
- Information relating to its installed capacities and the historical capacity utilization of the company factory units included in this Draft Red Herring Prospectus is based on various assumptions and estimates and future production and capacity utilization may vary.
- Some of its Group Companies are engaged in the same line of business to that of the Company and may have incurred losses in the past. There are no non-compete agreements between the Company and Promoter Group Entities and/ Promoter Group Members. However, the company cannot assure that its Promoter and Promoter Group members will not favour the interests of such entities over its interest or that the said entities will not expand which may increase its competition and may adversely affect business operations and financial condition of the Company.
- Its may be able to sufficiently protect, or continue the company intellectual property and other proprietary rights.
- Unsecured loans taken by the Company can be recalled by the lenders at any time.
- Industry related data is taken from online sources and therefore may be incorrect or inaccurate.
- Its financing agreements contain covenants that limit the company flexibility in operating its business. The company inability to meet the company obligations, including financial and other covenants under its debt financing arrangements could adversely affect its business, results of operations and financial condition.
- The company has in the past entered into related party transactions and may continue to do so in the future.
- Its insurance coverage may not be adequate.
- The Company had negative cash flow from certain activity in recent fiscals, details of which are given below.
- There have been several instances of delay/ default in payment of statutory dues pertains to Goods Service Tax (GST) and Employees Provident Fund (EPF) and filing of statutory returns by the Company in the past.
- There are certain outstanding legal proceeding involving the Company, Promoter, Directors and Promoter Group Members which may adversely affect its business, financial condition and results of operations.
- The company intend to use a portion of the Net Proceeds to prepay / repay certain loan facilities.
- The company is dependent on a number of key employees, including its senior management, and the loss of or the company inability to attract or retain such persons with specialized technical know-how could adversely affect its business, results of operations, cash flows and financial condition.
- Inability to meet the quality and quantity standard norms prescribed by the central and state governments could adversely impact the sales of its products, in particular the company toughen glass products, being banned or suspended or becoming subject to significant compliance costs, which could have a material adverse effect on its business growth and prospects, results of operations, financial condition, and cash flows.
- Improper storage and handling of raw materials and finished products may cause damage to its inventory leading to an adverse effect on the company business, results of operations and cash flows.
- If the company is unable to establish and maintain an effective system of internal controls and compliances, its business and reputation could be adversely affected.
- The company has significant power requirements for continuous running of its manufacturing unit. Any disruption to the company operations on account of interruption in power supply or any irregular or significant hike in power tariffs may have an effect on its business, results of operations and financial condition.
- Its Promoters, Directors and Key Managerial Personnel have interests in the Company other than reimbursement of expenses incurred or normal remuneration or benefits.
- Its Promoters and members of the Promoter Group have significant control over the Company and have the ability to direct its business and affairs; their interests may conflict with your interests as a shareholder.
- The average cost of acquisition of Equity Shares held by our Promoters could be lower than the Issue Price.
- Its failures to accurately forecast and manage inventory could result in an unexpected shortfall and/or surplus of products, which could harm its business.
- Orders placed by customers may be delayed, modified, cancelled or not fully paid for by its customers, which may have an adverse effect on the company's business, financial condition and results of operations.
- The company has not made any alternate arrangements for meeting its capital requirements for the Objects of the Issue. Further, the company has not identified any alternate source of financing the "Objects of the Issue'. Any shortfall in raising / meeting the same could adversely affect its growth plans, operations and financial performance.
- Its success largely depends upon the knowledge and experience of the company Promoters, Directors, its Key Managerial Personnel and the company Senior Management. Loss of any of its Directors, key managerial personnel and the company Senior Management or its ability to attract and retain them could adversely affect its business, operations and financial condition.
- The company operates in a highly competitive industry, which could limit its ability to grow.
- The company could be harmed by employee misconduct or errors that are difficult to detect and any such incidences could adversely affect its financial condition, results of operations and reputation.
- The industry in which the company operates, requires labour/ manpower and its operations may be materially adversely affected by strikes, work stoppages or increased wage demands by its employees or any other kind of disputes with the company employees.
- Delay in raising funds from the IPO could adversely impact the implementation schedule.
- There is no monitoring agency appointed by the Company and the deployment of funds is at the discretion of its Management and the company Board of Directors, though it shall be monitored by its Audit Committee.
- Any variation in the utilization of the Net Proceeds as disclosed in this Draft Red Herring Prospectus shall be subject to certain compliance requirements, including prior Shareholders' approval.
- The requirements of being a listed company may strain its resources.
- The Equity Shares have never been publicly traded and the Issue may not result in an active or liquid market for the Equity Shares.
- There is no guarantee that the Equity Shares issued pursuant to the Issue will be listed on the SME Platform of National Stock Exchange of India Limited in a timely manner or at all.
- There is no existing market for its Equity Shares, and the company does not know if one will develop to provide you with adequate liquidity. Further, an active trading market for the Equity Shares may not develop and the price of the Equity Shares may be volatile.
- The price of the Equity Shares may be highly volatile after the Issue.
- You will not be able to sell immediately on the Stock Exchanges any of the Equity Shares you purchase in the Issue.
- There are restrictions on daily movements in the trading price of the Equity Shares, which may adversely affect a shareholder's ability to sell Equity Shares or the price at which Equity Shares can be sold at a particular point in time.
- The price of the Equity Shares may be volatile, which could result in substantial losses for investors acquiring the Equity Shares in the Issue.
- Any future issuance of Equity Shares, or convertible securities or other equity-linked securities by the Company may dilute your shareholding and any sale of Equity Shares by its Promoters or members of the company Promoter Group may adversely affect the trading price of the Equity Shares.
- Sale of Equity Shares by its Promoters or other significant shareholder(s) may adversely affect the trading price of the Equity Shares.
- Rights of shareholders under Indian laws may be more limited than under the laws of other jurisdictions.
The Issue type of Agarwal Toughened Glass India Ltd is Book Building - SME.
The minimum application for shares of Agarwal Toughened Glass India Ltd is 1200.
The total shares issue of Agarwal Toughened Glass India Ltd is 5799600.
Initial public offer of 57,99,600 equity shares of face value of Rs. 10/- each ("Equity Shares") of the company at an issue price of Rs. 108/- per equity share (including a share premium of Rs. 98/- per equity share) for cash, aggregating to Rs. 62.64 crores ("Public Issue") out of which 2,97,600 equity shares of face value of Rs. 10/- each, at an issue price of Rs. 108/- per equity share for cash, aggregating to Rs. 3.21 crores was reserved for subscription by the market maker to the issue (the "Market Maker Reservation Portion"). The public issue less market maker reservation portion i.e. net issue of 55,02,000 equity shares of face value of Rs. 10/- each, at an issue price of Rs. 108/- per equity share for cash, aggregating to Rs. 59.42 crores is hereinafter referred to as the "Net Issue". The public issue and net issue will constitute 32.81 % and 31.13 % respectively of the post-issue paid-up equity share capital of the company.