Agarwal Toughened Glass hits 5% upper circuit after listing at 25% premium on NSE SME

Agarwal Toughened Glass India Limited shares made a strong debut on the NSE SME platform, Emerge, on Thursday, December 5. Agarwal Toughened Glass India shares were listed on NSE Emerge at ₹135 apiece, up by 25% compared to the issue price of ₹108.

The retail investors, who were allotted at least one lot or 1,200 shares, would have made a profit of ₹32,400 (₹27 x 1,200) after the stock started trading on the exchange.

After listing, the stock rallied 5% to hit the upper circuit limit at ₹141.75 apiece. As many as 14.8 lakh company shares changed hands on the NSE within the initial 10 minutes of trade. The total trading value stood at ₹19.96 crore. The company’s market capitalisation stood at ₹229.77 crore.

Agarwal Toughened Glass IPO details

Agarwal Toughened Glass India's IPO was worth ₹62.64 crore. The book-built issue consisted of a fresh issuance of 58 lakh shares, with an issue price fixed at ₹105 to ₹108 per share.

The minimum lot size for retail investors to apply for the Agarwal Toughened Glass India IPO was a single lot of 1,200 shares, which aggregated to an investment of ₹1,29,600.

Agarwal Toughened Glass India IPO subscription period was from November 28 to December 2. Overall, the NSE SME issue was subscribed nearly 10 times.

The IPO was booked 10.7 times in the retail category. The Non-Institutional Investors (NIIs) booked their category 15.53 times, while the Qualified Institutional Buyers’ (QIBs) quota was subscribed 4.49 times.

The company plans to use the money raised via the public issue to purchase machinery for its manufacturing unit. A portion of the proceeds will also be used for repayment of borrowings and for meeting incremental working capital requirements. The company will also utilise the funds for general corporate purposes.

Agarwal Toughened Glass India Limited was incorporated in October 2009. The company manufactures tempered glasses. The products made by the company include shower doors, refrigerator trays, mobile screen protectors, bulletproof glass for diving masks, and various plates and cookware. The company employed 207 workers as of September 30, 2024.