Agarwal Toughened Glass shares to debut today. Here's what GMP indicates
Agarwal Toughened Glass will debut on the NSE SME platform on Thursday. Ahead of the listing, the company's shares were trading with a GMP of Rs 32 in the grey market.
Considering the upper price band of Rs 108, the stock is expected to list with a premium of 30% over the issue price.
However, it is important to note that grey market premiums are just an indicator as to how the company's shares are stacked up in the unlisted market and are subject to change rapidly.
The IPO, which is completely a fresh equity sale of 57.99 lakh shares, received decent response from investors with an overall subscription of nearly 10 times at close.
The net proceeds from the public offer will be used for purchase of machinery at its existing manufacturing unit, repayment of certain borrowings, working capital requirements and general corporate purposes.
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