Agarwal Float Glass India SME
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 10 Feb 2023 – 15 Feb 2023
- Listing date
- 23 Feb 2023
- Face value
- ₹10 per share
- Issue price
- ₹42 per share
- Lot size
- 3,000 shares
- Total issue size
- ₹9.20 Cr
- Market cap at offer price
- ₹30.42 Cr
- Promoter holding
- 99.99% → 69.77% pre-issue → post-issue
- ISIN
- INE0MLA01012
- Registrar
- Kfin Technologies Ltd.
- Lead managers
- GYR Capital Advisors Pvt.Ltd.
- Registered office
- H-1/790, Sitapura Industrial Area Ext., Near Fire Bridge Office, Rajasthan
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Market maker | 1,14,000 | — | — |
Application size
Minimum 3,000 shares per lot, in multiples, at ₹42
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 3,000 | ₹1,26,000 |
| S-HNI (min) | 2 | 6,000 | ₹2,52,000 |
| S-HNI (max) | 7 | 21,000 | ₹8,82,000 |
| B-HNI (min) | 8 | 24,000 | ₹10,08,000 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 5.03 | — |
| P/E (×) | 8.35 | — |
| Market cap | — | ₹30.42 Cr |
Key performance indicators
- Return on net worth
- 31.00%
- ROCE
- 16.26%
- Debt / equity
- 3.48
- PAT margin
- 2.42%
- NAV per share
- ₹16.20
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Agarwal Float Glass India SME
Agarwal Float Glass India Limited (formerly Agarwal Float Glass India Private Limited) was incorporated on May 3, 2018 in Jaipur, Rajasthan and was converted into a public limited company in June 2022 (CIN: U74995RJ2018PLC061097). It forms part of the Agarwal Group, which promoters Uma Shankar Agarwal and Mahesh Kumar Agarwal set up in 1997 through the sole proprietorship 'Agarwal Glass House' for trading of glass and glass products. The company is a B2B wholesaler of glass: it procures clear glass, value-added glass (clear frosted glass, clear sheet glass, mirror, tinted glass, reflective glass) and processed glass (toughened, frosted, frosted-design, leaguered, figure, heat-strengthened, insulated, PVB laminated, bullet-resistant and other building glasses) from manufacturers including Saint-Gobain India Private Limited, Sisecam Flat Glass India Private Limited, Gold Plus Glass Industry Limited, Asahi India Glass Limited and Gujarat Guardian Limited, and sells through area and local sales managers or directly to customers, serving end uses in construction, automotive and industrial sectors, with business carried out primarily in Rajasthan. It earns the trading spread between purchase and sale prices, buying goods on cash or least-credit terms and supplying customers on credit, operating on both an order basis and a demand-estimation (bulk stocking at godowns) basis. Revenue from operations was ₹2,356.30 lakhs with profit after tax of ₹267.75 lakhs for the period ended September 30, 2022 (FY2022: ₹4,210.22 lakhs and ₹101.68 lakhs). The IPO is a 100% fixed-price fresh issue of up to 22,00,000 equity shares of face value ₹10 each to part-fund working capital (up to ₹625 lakhs) and general corporate purposes, with listing proposed on the NSE Emerge platform.
Company Analysis
from DRHPAgarwal Float Glass India Limited is a Jaipur-based wholesaler engaged in the trading of glass and specialised/processed glass products, procured from manufacturers and sold to customers across construction, automotive and industrial end-use sectors.
Agarwal Float Glass India Limited (formerly Agarwal Float Glass India Private Limited) was incorporated on May 3, 2018 in Jaipur, Rajasthan and was converted into a public limited company in June 2022 (CIN: U74995RJ2018PLC061097). It forms part of the Agarwal Group, which promoters Uma Shankar Agarwal and Mahesh Kumar Agarwal set up in 1997 through the sole proprietorship 'Agarwal Glass House' for trading of glass and glass products. The company is a B2B wholesaler of glass: it procures clear glass, value-added glass (clear frosted glass, clear sheet glass, mirror, tinted glass, reflective glass) and processed glass (toughened, frosted, frosted-design, leaguered, figure, heat-strengthened, insulated, PVB laminated, bullet-resistant and other building glasses) from manufacturers including Saint-Gobain India Private Limited, Sisecam Flat Glass India Private Limited, Gold Plus Glass Industry Limited, Asahi India Glass Limited and Gujarat Guardian Limited, and sells through area and local sales managers or directly to customers, serving end uses in construction, automotive and industrial sectors, with business carried out primarily in Rajasthan. It earns the trading spread between purchase and sale prices, buying goods on cash or least-credit terms and supplying customers on credit, operating on both an order basis and a demand-estimation (bulk stocking at godowns) basis. Revenue from operations was ₹2,356.30 lakhs with profit after tax of ₹267.75 lakhs for the period ended September 30, 2022 (FY2022: ₹4,210.22 lakhs and ₹101.68 lakhs). The IPO is a 100% fixed-price fresh issue of up to 22,00,000 equity shares of face value ₹10 each to part-fund working capital (up to ₹625 lakhs) and general corporate purposes, with listing proposed on the NSE Emerge platform.
Objects of the Issue
- Funding the working capital requirements of the company Upto ₹ 625.00 lakhs p.69
- General Corporate Purposes p.70
- Issue related expenses p.70
Issue Structure
- Total Issue
- Up to 22,00,000 Equity Shares of ₹ [●] aggregating up to ₹ [●] Lakhs
- Fresh Issue
- Up to 22,00,000 Equity Shares of ₹ [●] aggregating up to ₹ [●] Lakhs (entire issue constitutes fresh issue)
- Offer for Sale
- Nil
- Face Value
- ₹ 10
Business Model
B2B wholesale trading of glass: the company purchases glass and processed glass products (stock-in-trade) from manufacturers on cash or least-credit terms and resells them — either directly or through area/local sales managers — to customers on credit, earning the margin/spread between purchase and sale prices. Procurement runs on an 'order' basis (goods often supplied directly from supplier to customer) and a 'demand estimation' basis (bulk goods stocked at its godowns until sale).
Business Segments
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Uma Shankar Agarwal | Promoter | 97.52% | — |
| Mahesh Kumar Agarwal | Promoter | 2.47% | — |
Leadership
Auto-extracted from the company's DRHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official DRHP before relying on it.