GOLD PLUS GLASS INDUSTRY LIMITED FILES DRHP WITH SEBI

Gold Plus Glass Industry Limited (“The Company”) has filed its Draft Red Herring Prospectus (“DRHP”) with market regulator Securities and Exchange Board of India (“SEBI”). According to CRISIL Report, 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.

The Company plans to raise funds through initial public offerings of equity shares (face value ₹ 10 each). The offer comprises of fresh issue of equity shares aggregating up to ₹ 500 crore (The “Fresh Issue”) and offer for sale up to 15,667,977 Equity Share by Selling Shareholders (The “Offer for Sale”).

The company proposes to utilize net proceeds from fresh issue towards – 1.Repayment/prepayment of all or certain of our borrowings and 2. General corporate purposes.

The Offer for Sale comprises of – up to 1,019,995  Equity Shares by Suresh Tyagi, up to 1,019,995  Equity Shares by Jimmy Tyagi  (collectively, the “Promoter Selling Shareholders”), up to 10,277,987  Equity Shares by I Opportunities Fund – I and up to 3,350,000  Equity Shares by Kotak Special Situations Fund (collectively, the “Investor Selling Shareholders). (Combined both the “Promoter Selling Shareholders” and the “Investor Selling Shareholders”, ”Selling Shareholders”)

The Equity Shares that will be offered through the Red Herring Prospectus are proposed to be listed on the BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”)

IIFL Securities Limited, Axis Capital Limited, Kotak Mahindra Capital Company Limited and SBI Capital Markets Limited are the Book Running Lead Managers to the issue.