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Agarwal Toughened Glass IPO
Price Band
₹105.0–108.0
Issue Size
₹62.64 Cr
Lot Size
1,200 shares
Min Investment
₹129,600
GMP
+₹32.0 (29.63%)
Issue Price
₹108.0
Subject to Sauda
₹29200
Paid only if allotted
Agarwal Toughened Glass IPO AI Summary
- Agarwal Toughened Glass IPO is listed on NSE SME in the Glass - Industrial sector.
- Price band: ₹105.0–₹108.0 per share, lot size 1,200 shares (min. investment ₹129,600).
- Subscription window: 28 Nov–02 Dec 2024, listing on 05 Dec 2024.
- Current GMP is +₹32.0 (29.63%), an estimated listing price of ₹140 — unofficial and can change daily.
Agarwal Toughened Glass India Limited is an SME IPO that specializes in manufacturing tempered glass products. The company has shown growth in its profit margins and total income over the years, although recent figures indicate a decline in total income for the latest 9-month period. The IPO aims to raise funds for machinery purchases, debt repayment, working capital, and corporate expenses. Investors should consider their risk appetite and market conditions before participating.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Agarwal Toughened Glass IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 02 Dec 2024 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Agarwal Toughened Glass IPO Grey Market Premium (GMP) Today
GMP
+₹32.0
GMP %
+29.63%
Est. Listing
₹140.0
Updated: 25 Jul 2026 14:02
About the Company
Incorporated in October 2009, Agarwal Toughened Glass India Limited manufactures tempered glasses. The company's products are used in various industries, such as shower doors, refrigerator trays, mobile screen protectors, bulletproof glass for diving masks, and a variety of plates and cookware. The company is ISO 9001:2015 certified for its Quality Management System. The company caters to segments such as office buildings, hotels, institutions, banks, insurance firms, shopping centres, and diplomatic homes. The product portfolio of the company comprises of Annealed Glass Toughened Glasses Insulated Glasses Laminate Safety Glass Heat Soaked Glass The company conducts various tests on its products, including human impact assessments, ball drop tests, design and visual inspections, annealing evaluations (for residual stress), and glass thickness and weight measurements. Competitive Strengths: Strong Brand presence in the Indian market The company's management team is a combination of experience and expertise Long-standing relationships with its customers Consistent focus on quality Strong Risk Management As of September 30, 2024, the company had 207 employees responsible for their respective tasks, including directors, administrative, secretarial, marketing, and accounting staff.
Company Financials (₹ Cr)
As of 2024-09-30
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 57.08 | 51.55 | 40.62 | 36.20 |
| Total Income | 23.50 | 40.50 | 40.60 | 34.72 |
| Profit After Tax | 4.54 | 8.69 | 0.97 | 0.50 |
| NET Worth | 20.85 | 16.31 | 7.62 | 6.65 |
| Reserves and Surplus | 8.97 | 4.43 | 2.87 | 1.90 |
| Total Borrowing | 30.55 | 29.25 | 28.77 | 26.42 |
Key Ratios
EPS
₹7.31
NAV
₹17.56
ROE
21.77%
ROCE
19.78%
RoNW
21.77%
P/B Value
6.15
P/E Ratio
14.77
Market Cap
₹190.89 Cr
PAT Margin
20.37%
Debt/Equity
1.47
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Borosil Limited | 63.46 | 3.64% | 71.21 | 2.36 | 2.36 |
| Sejal Glass Limited | 32.31 | 14.44% | 150.19 | 3.77 | 3.77 |
| Agarwal Toughened Glass India Limited This IPO | 17.56 | 21.77% | — | 3.82 | 3.82 |
Promoters
Anita Agarwal, Mahesh Kumar Agarwal, Uma Shankar Agarwal and Sharda Agarwal
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Purchase of machinery at our existing manufacturing unit; 9.67 2 Repayment of certain Borrowings; 6.00 3 To meet incremental working capital requirements; and 25.00 4 General Corporate Expenses. 14.97
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹34.72 Cr in the year ending 31 Mar 2022, increasing to ₹40.60 Cr by 31 Mar 2023, and remaining stable at ₹40.50 Cr for the year ending 31 Mar 2024. However, as of 30 Sep 2024, the total income decreased to ₹23.50 Cr, though this is a 9-month figure, not a full year, so isn't directly comparable.
Profit Trend
Profit after tax was ₹0.50 Cr in the year ending 31 Mar 2022, rising to ₹0.97 Cr by 31 Mar 2023, and further increasing to ₹8.69 Cr for the year ending 31 Mar 2024. As of 30 Sep 2024, profit after tax was ₹4.54 Cr, though this is a 9-month figure, not a full year, so isn't directly comparable.
Valuation
The company's implied P/E at the issue price is 14.77, compared to peers trading at P/E ratios of 71.21 for Borosil Limited and 150.19 for Sejal Glass Limited.
Grey Market Premium, Explained
The grey market refers to the unofficial trading of shares before they are listed on the stock exchange. The Grey Market Premium (GMP) indicates the expected listing price of the shares based on demand in the grey market. A positive GMP suggests that investors anticipate a higher listing price than the issue price.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment goals and risk tolerance, considering factors such as market conditions and company fundamentals.
Who May Want to Wait
Investors who prefer stable, established companies with predictable earnings may want to avoid IPOs like this, which can carry higher risks associated with market fluctuations and operational uncertainties.
Listing Gains — The Risk
Listing-day gains can be unpredictable. While some IPOs may experience a surge in price on their first day of trading, others may not perform as well. Investors should be aware that market conditions, investor sentiment, and overall economic factors can influence the stock's performance on listing day.
This evaluation is generated from Agarwal Toughened Glass's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Agarwal Toughened Glass IPO GMP today?
Agarwal Toughened Glass IPO GMP today is +₹32.0 (29.63%), indicating an estimated listing price of ₹140. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Agarwal Toughened Glass IPO?
The price band of Agarwal Toughened Glass IPO is ₹105.0–₹108.0 per share.
When does Agarwal Toughened Glass IPO open and close?
Agarwal Toughened Glass IPO opens on 28 November 2024 and closes on 02 December 2024.
When does Agarwal Toughened Glass IPO list on the stock exchange?
Agarwal Toughened Glass IPO listed on 05 December 2024 at ₹140.0.
What is the lot size for Agarwal Toughened Glass IPO?
The lot size for Agarwal Toughened Glass IPO is 1200 shares, requiring a minimum investment of ₹129,600.
What is the price band for the Agarwal Toughened Glass IPO?
The price band for the Agarwal Toughened Glass IPO is ₹105.0 to ₹108.0.
What is the minimum investment required for this IPO?
The minimum investment required for this IPO is ₹129,600.
What is the lot size for the Agarwal Toughened Glass IPO?
The lot size for the Agarwal Toughened Glass IPO is 1,200 shares.
When does the Agarwal Toughened Glass IPO open and close?
The Agarwal Toughened Glass IPO opens on November 28, 2024, and closes on December 2, 2024.
What does GMP mean in the context of an IPO?
GMP stands for Grey Market Premium, which indicates the expected listing price of the shares based on demand in the grey market.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
28 Nov 2024
Close
02 Dec 2024
Allotment
03 Dec 2024
Listing
05 Dec 2024
Plan Your IPO Investment
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