Gold Plus Glass Industry IPO

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Issue size	Rs. 0 Cr
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Company Details

We are 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) We are among 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 us with certain competitive advantages.

As of September 30, 2023, we operate three fungible production lines, i.e., capable of producing both clear glass and value-added glass, with an aggregate capacity of 2,050 tonnes per day (“TPD”) across two locations from our manufacturing facilities which are strategically located in northern India at Roorkee, Uttarakhand with an aggregate capacity of 1,250 TPD and in southern India at Belgaum, Karnataka with current operational aggregate capacity of 800 TPD for manufacturing our clear and value-added glass products.

Over the course of the last few years, we have streamlined our focus to increase our aggregate capacity from 1,250 TPD as of March 31, 2021 to 2,050 TPD as of September 30, 2023 in order for us to capture the industry opportunity and consequently increase our sales and market share with phase-I of the planned expansion of the Belgaum, Karnataka facility being completed in the first quarter of Fiscal 2024. We have also recently completed phase-II of the planned expansion with the solar glass line commencing trial production in December 2023 on which commercial production is expected to commence from February 2024.

Further, once the proposed production line 4 (expected completion date being first quarter of Fiscal 2025) at our Belgaum, Karnataka facility is completed, we will further increase our aggregate capacity from 2,050 TPD as of September 30, 2023 to 3,150 TPD.

We have in the past realized higher share of revenue from the sale of our products in northern and eastern India markets from our Roorkee, Uttarakhand facility by leveraging lower transportation costs. However, with the 221 completion of phase-I and phase-II of planned Belgaum, Karnataka facility, we have transitioned from being a single-location manufacturing player to become a multi-location manufacturing player enabling us to cater multiple markets in the clear, value-added glass segment and solar glass with greater ease and with better operational efficiency.

Since commencing commercial production in 2009, we have grown our brand and expansive distribution network to become one of the leading companies in India in float glass manufacturing, with a comprehensive range of clear and value-added glass. (Source: CRISIL Report) Our product portfolio currently comprises clear glass, 28 kinds of value-added glass products and 11 kinds of processed glass products, with the further capability to manufacture special thickness clear glass ranging between 15 mm and 19 mm from the current operational production line 3 at our Belgaum, Karnataka facility.

Log in to the Mirae Asset Sharekhan app and tap the hamburger menu.
Under the EQUITY dropdown option, tap IPO/OFS/BOND to land on the IPO dashboard.
Click on the Current IPO tab and select the IPO of your choice.
On the IPO application form that opens, fill in details like the Demat Account Number, Category of investor, number of lots you wish to invest in, the Cut-Off Price and others.
Now enter your UPI ID (make sure this UPI ID is connected to your Mirae Asset Sharekhan-mapped bank account) on the form.
Read and accept the Terms & Conditions and click on the SUBMIT button. Recheck the details on the order confirmation screen and confirm the order.
Once the exchange receives details about your bid, you will get a notification (IPO mandate request) on your UPI app and an SMS as well.
Log in to your UPI app and go to the pending mandates section.
Verify all the details once again and authenticate your bid amount by entering your UPI PIN.
Once done, the IPO application amount will be blocked and you will receive an SMS about the blocked Bid amount.

Note: The actual amount will be debited when the shares are allotted to you.

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Log in to the Mirae Asset Sharekhan website and click the IPO & OTHERS menu option you see on the top-right.
From the list of Active IPOs, select the IPO of your choice
On the IPO application form that opens, fill in details like the Demat Account Number, Category of investor, number of lots you wish to invest in, the Cut-Off Price and others.
Now enter your UPI ID (make sure this UPI ID is connected to your Mirae Asset Sharekhan-mapped bank account) on the form. Read and accept the Terms & Conditions and click on the SUBMIT button.
Recheck the details on the order confirmation screen and confirm the order.
Once the exchange receives details about your bid, you will get a notification (IPO mandate request) on your UPI app and an SMS as well. Log in to your UPI app and go to the pending mandates section.
Verify all the details once again and authenticate your bid amount by entering your UPI PIN.
Once done, the IPO application amount will be blocked and you will receive an SMS about the blocked Bid amount.
Your IPO order will now appear on your Mirae Asset Sharekhan Order Book, from where you can modify or cancel your IPO bid if you so wish.

Note: The actual amount will be debited when the shares are allotted to you.

How does an IPO work?

An IPO offers share market participants like you and me an opportunity to be a shareholder in an erstwhile privately held company that is now going public and being listed on the market. Historically speaking, investors who choose the right IPOs make significant returns on their investments, which increases the attraction of IPOs.

Once you are a shareholder, you are eligible to receive dividends from the company proportional to the shares you own. You can also sell your stocks for profit on the stock exchange.

In exchange for its shares, the company has an opportunity to raise huge capital to be used to further enhance its business and scale up its operations. The company also has other benefits, such as credibility; visibility; better leverage to effect mergers, acquisitions and even to procure loans at lower rates of interest.

In India, the entire IPO process is ably regulated by the Securities & Exchange Board of India (SEBI), right from the IPO filing by the company to the bidding, allotments and refunds (in case you aren't allotted shares due to oversubscription).

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Tankup Engineers Ltd.

Price: 133 - 140 | IPO Lot Size: 1000 | IPO Issue Size: NA
Open Date: 23 Apr 2025 | Close Date: 25 Apr 2025

Gold Plus Glass Industry IPO

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More about the IPO

Company Details

How to apply for an IPO on the Mirae Asset Sharekhan app

How to apply for an IPO on the Mirae Asset Sharekhan website

How does an IPO work?

IPO Calendar

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