JSA is advising IIFL Securities Limited, Axis Capital Limited, Kotak Mahindra Capital Company Limited and SBI Capital Markets Limited in relation to the proposed initial public offering of equity shares of Gold Plus Glass Industry Limited (“IPO”) comprising a fresh issue of up to ₹5000.00 million and an offer for sale aggregating up to 15,667,977 Equity Shares by two of the promoters (Mr. Suresh Tyagi and Mr. Jimmy Tyagi), PI Opportunities Fund – I and Kotak Special Situations Fund. Gold Plus Glass Industry Limited (the Company”) has filed its draft red herring prospectus with SEBI on February 9, 2024.
The Company is the second-largest float glass manufacturer in India with 22% share of manufacturing capacity for float glass as of September 30, 2023. (Source: CRISIL Report*) The Company is amongst the only two manufacturers in India with fungible production lines capable of manufacturing a comprehensive range of clear and value-added glass from a single manufacturing facility (Source: CRISIL Report*) which provides the Company with certain competitive advantages.
* Titled “Market assessment of glass industry in India” dated January 2024, prepared and issued by CRISIL MI&A.
Our Transaction Team comprised Lead Partner – Arka Mookerjee, Partner – Siddhartha Desai, Associate – Reshmi Prabhakar, Anvita Sinha and Ayushi Pandit.
Arka’s practice area covers primarily equity capital markets issuances which covers a wide range of products such as Initial Public Offerings, Rights Issues, Qualified Institutions Placements, Initial Public Offering of Infrastructure Trusts and foreign currency convertible bonds.