Gold Plus IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Nov 17, 2022Gold Plus Glass Industry Limited is one of the paramount entities in glass manufacturing. The company has been in operation for over 15 years.
It creates value-added glass products utilized in various industries and for end-users. Now, the company is bringing Gold Plus IPO to garner funds from the public and effect share sale.
In the Gold Plus IPO Review, we will read about the company’s business, its product line, objects of the IPO offer, IPO size, IPO subscription and allotment status, and all other details relevant to the IPO.
| Face Value | Rs 10 |
| Price Band | Not Disclosed |
| Listing At | BSE, NSE |
| Min. Order Quantity | Not Disclosed |
| Listing Date | Not Disclosed |
| Offer for Sale | Not Disclosed |
| Fresh Issue | Rs.300 Crore |
| IPO Size | Not Disclosed |
| Tick Size | 1 |
Gold Plus IPO Overview
Gold Plus IPO is a combination of a Fresh Issue of up to Rs 300 crore and an Offer for Sale of up to 1,28,26,224 equity shares where some of the promoters and existing shareholders will be offering their shares for sale.
The company has filed the DRHP documents with SEBI to seek its approval on 8th April 2022 and is preparing to float the IPO in the market. The offered shares are proposed to be listed on the mainboard exchanges.
Gold Plus IPO Important Dates
| Events | Date |
| IPO Opening Date | Not Disclosed |
| IPO Closing Date | Not Disclosed |
| Basis of Allotment Finalization | Not Disclosed |
| Refunds Initiation | Not Disclosed |
| Credit of Shares to Demat Account | Not Disclosed |
| Share Listing Date | Not Disclosed |
Up to now, Gold Plus Glass Industry Limited has submitted the preliminary papers with the securities market regulator and is now waiting for the observation letter to proceed further and determine the Gold Plus IPO Date.
The company will decide the date of the IPO and the period for which the IPO will be open. Investors bids on the IPO between the IPO opening and IPO closing date.
Other important dates of the IPO are the allotment date and IPO listing date.
Gold Plus IPO Price, Size, Share Offerings
| Face Value | Rs.10 |
| Price Band | Not Disclosed |
| Offer for Sale | Not Disclosed |
| Fresh Issue | Rs.300 Crore |
| IPO Size | Not Disclosed |
Gold Plus IPO Price will be determined through the Book Building Process by the company in consultation with the Book Running Lead Managers of the issue.
Gold Plus IPO Size will comprise the new shares and the shares offered by selling shareholders. Two of the promoters and an early investor of the company are offloading their company shares.
The face value of the shares is Rs. 10 each. The shares will be listed on BSE and NSE.
Gold Plus IPO Grey Market Premium
| Date | GMP (Rs.) | Kostak Rate (Rs.) | Subject to Sauda (Rs.) |
| Not Trading in Grey Market yet | |||
Gold Plus IPO GMP will be available around the IPO opening date. GMP or Grey Market Premium is the profit made through the trading in the shares of the issuer company before the listing takes place.
Grey Market is an unofficial market where shares are bid and offered without a legal agreement.
The market is not illegal but is not regulated by any regulatory authority. It has its significance in the determination of IPO price on the mainboard.
Gold Plus IPO Subscription Status
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – | ||||
| 2nd Day – | ||||
| 3rd Day – | ||||
| Shares Offered or Net Issue |
The process where the traders’ bid for the allotment of shares is called Subscription. There are usually two circumstances in Subscription, Under Subscription and oversubscription.
Under Subscription, the number of shares applied for by the traders is lesser than offered shares, and over Subscription, the situation is the opposite.
Gold Plus IPO Subscription will be open for investors after the company files RHP and receive approval from SEBI and the registrar. The IPO will be open for a pre-determined period.
Gold Plus IPO Allotment Status
Once all the applications are received from the public for the allotment of shares, the company will determine the Gold Plus IPO allotment basis. The application for shares can only be placed online, and retail investors can use the UPI method.
Gold Plus IPO Live Performance
After the share are listed on the stock exchanges, investors can easily access Gold Plus IPO Performance by clicking on the link. You can check the updated Gold Plus IPO Price here.
Subscribe to Gold Plus IPO – Open Free Demat Account Now!
Latest Gold Plus IPO News
In the rain of IPOs has entered India’s second-largest float glassmaker, Gold Plus Glass Industry Limited has submitted the Draft Red Herring Prospectus with SEBI. The company will be raising funds through Fresh Issue and Offer for Sale mode. The company filed the documents on 8th April 2022 and will launch the IPO soon after the approval.
Gold Plus is one of the largest producers of float glass, with a 16% share of the float glass production. Along with the float glass, the company has another wide offering, including 22 types of value-added glass goods and further 11 types of processed glass products.
Gold Plus – Company Review
Gold Plus Glass Industry Limited embarked on its journey in 2005 as a public limited company. The company is headquartered in New Delhi and serves its customers from there.
Gold Plus is the second-largest manufacturer of float glass in India. It has a dominant market of 16% of manufacturing capacity as per fiscal 2021. They are among the leaders offering value-added glass products.
The company provides its products to different industries like construction, automotive and industrial sectors. The products are applied for varied applications.
Products or Services
Gold Plus Glass Industry Limited embarked on its journey in 2005 as a public limited company. The company is headquartered in New Delhi and serves its customers from there.
Gold Plus is the second-largest manufacturer of float glass in India. It has a dominant market of 16% of manufacturing capacity as per fiscal 2021. They are among the leaders offering value-added glass products.
The company provides its products to different industries like construction, automotive and industrial sectors. The products are applied for varied applications.
Promoters and Holding
The promoters of Gold Plus Glass Industry Limited are:
- Subhash Tyagi
- Suresh Tyagi
- Jimmy Tyagi
- Aashish Tyagi
The management of the company comprises:
- Subhash Tyagi in the position of Chairman and Whole-time Director
- Suresh Tyagi, in the position of Vice-chairman and Whole-time Director
- Ashok Khurana, in the position of Independent Director
- Maheswar Sahu, in the position of Independent Director
- Sannovanda Swathi Machaiah in the position of Independent Director
- Rajesh Ramaiah Ramaiah in the position of Non-Executive (Nominee) Director
- Jimmy Tyagi, in the position of Chief Executive Officer
- Aashish Tyagi, in the position of Chief Procurement Officer
- Vivek Dubey, in the position of Chief Operating Officer
- Tarun Jain, in the position of Chief Financial Officer
- Keshav Lahoti, in the position of Company Secretary and the Compliance Officer
Is Gold Plus good for Investment?
Gold Plus Glass Industry Limited is a leading company in glass manufacturing on a large scale. The company has a diversified product portfolio and serves a large group of customers.
It has a wide scope of growth and scaling. The company is the second-largest manufacturer of float glass.
Gold Plus is backed by a strong set of individuals who have extensive experience in the industry and contribute to the company’s success in the best possible manner.
With the Gold Plus IPO, the company will be making payments toward the outstanding debts, strengthening its company position. Also, the proceeds of the new issue will be utilized towards fulfilling working capital requirements.
Gold Plus Financial Statements
| Amount (in INR & Million) | ||||
| 31-Dec-21 | 31-Mar-21 | 31-Mar-20 | Mar-19 | |
| Assets | 12,826.30 | 11,855.17 | 12,548.39 | 12,452.66 |
| Revenue | 10,367.15 | 8,694.32 | 6,558.12 | 8,016.41 |
| Expense | 8,059.05 | 8,535.02 | 7,357.18 | 8,807.17 |
| Profit After Tax | 1,725.00 | 576.46 | (799.06) | (790.76) |
After facing losses in 2019 and 2020, Gold Plus Glass Industry Limited is pacing up and has delivered some impressive stats in the past financial years.
The company secured a profit of 2,309.43 million in the financial year 2021-22 till December 2021. The total income for the same period is 10,367.15 million.
In the financial year 2020-21 also, the company earned a profit of 158.93 million.
| Earnings per Equity Share (in Million) | ||||
| 31-Dec-21 | 31-Mar-21 | 31-Mar-20 | Mar-19 | |
| Basic | 22.80 | 7.62 | (10.56) | (10.45) |
| Diluted | 18.47 | 6.17 | (10.56) | (10.45) |
In the context of EPS, the company’s EPS as of December 2021 was 22.80, and for the previous financial year, it was 7.62. The EPS has shown a drastic growth in one year.
Gold Plus IPO Review
Gold Plus Glass Industry Limited provides its goods for the end-user requirements and industries like automotive and construction. The Gold Plus IPO comprises a Fresh Issue of an Offer for sale.
The company will receive proceeds from the new issue only, and the selling shareholders will be entitled to the proceeds from the share sale. The selling shareholders are Suresh Tyagi, Jimmy Tyagi, and PI Opportunities Fund – I.
The listing of the shares on the stock exchanges will bring the entity under the surveillance of SEBI and enhance the operation’s transparency.
Gold Plus IPO Details
Here are few more details you need to know before investing in Gold Plus IPO –
Gold Plus IPO Issue Object
Gold Plus has proposed diverse objectives for making the IPO offer and some of the objectives are:
- Repayment/prepayment of all or certain of our borrowings;
- Funding incremental working capital requirements of our Company; and
- General corporate purposes.
Gold Plus IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Leading player in the high-growth Indian glass industry with significant barriers to entry;
- Comprehensive product portfolio catering to a wide range of industries;
- Extensive distribution network with a large business associate base;
- Strategically located manufacturing facility with large capacity and advanced infrastructure;
- Well established brand with targeted sales and marketing initiatives;
- Improving financial performance; and
- Experienced promoters and management team supported by marquee investors.
Quantitative factors are:
| Basic EPS | Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-21 | 7.62 | 6.17 | 27.21 | 28.00 |
| 31-Mar-20 | (10.56) | (10.56) | (51.85) | – |
| Mar-19 | (10.45) | (10.45) | (33.79) | – |
Gold Plus IPO Lead Managers
Here are the list of Lead managers –
- IIFL Securities Limited
- Axis Capital Limited
- Jefferies India Private Limited
- SBI Capital Markets Limited
Gold Plus IPO Registrar to offer
Check out the details of registrar here –
KFin Technologies Limited
(formerly known as KFin Technologies Private Limited)
Selenium, Tower B, Plot No. 31 and 32
Financial District Nanakramguda, Serilingampally
Hyderabad, Rangareddi 500 032
Telangana, India
Tel: +91 40 6716 2222
E-mail: gpgil.ipo@kfintech.com
Website: www.kfintech.com
Investor grievance e-mail:
einward.ris@kfintech.com
Contact Person: M. Murali Krishna
SEBI Registration No.: INR000000221
Gold Plus IPO – Other Details
- Statutory Auditor – M S K A & Associates, Chartered Accountants
- Legal Counsel to the Company – Cyril Amarchand Mangaldas
- Bankers to the Company – HDFC Bank Limited, Kotak Mahindra Bank Limited, RBL Bank Limited
Gold Plus IPO – Conclusion
Though the glass industry might be wide and diverse, Gold Plus Glass Industry Limited is already one of the top entities, which gives it a competitive advantage over others.
The company is introducing new products and expanding its ambit with time. This can benefit the investors in the long run.
To Subscribe to Gold Plus IPO – Open Demat Account Now!
Gold Plus IPO Review FAQs
Check out the FAQs on Gold Plus IPO –
What is the Issue Size of Gold Plus IPO?
The Company is making an initial public offer of NA equity shares. They vividly portray the aspects of the issue in this article.
You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of Gold Plus IPO?
The price band for this particular IPO ranges between NA. As far as the face value of the share is of concern, it is Rs.1 per share.
What is the Gold Plus IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on NA, while the closing date is set at NA.
What is the Gold Plus IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO.
Basis of Allotment finalization is on NA, refund initiation is on NA, credit of shares is on NA, and share listing date is on NA.
What is the Gold Plus IPO Listing Date?
Shares of this company shall be listed in the exchanges NA. The date, when the listing would be done, is stagnant on NA.
Who is the Registrar of Gold Plus IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. KFin Technologies Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Gold Plus IPO?
Here are the promoters of this IPO – SUBHASH TYAGI, SURESH TYAGI, JIMMY TYAGI, AND AASHISH TYAGI. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Gold Plus IPO?
They have obtained the GMP of this IPO and it is NA. Further insights of Kostak rate and subject to sauda or SS are as well included in this report.
Is Gold Plus IPO good for Investment?
They have further provided the financial status of the company in this article, from the past few years.
You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Gold Plus Company?
They have the information of company financials, and according to that, they have the figures from the last few years to provide.
PAT for the financial year 2021 in Million is 576.46, 2020 is (799.06), 2019 is (790.76). PAT from Dec 2021 is 1,725.00.
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