Gold Plus Glass Industry, Uniparts India get Sebi approval for IPO

27 Sep 2022 , 10:09 AM

Gold Plus Glass Industry and engineering solutions provider Uniparts India have received approval from capital markets regulator Sebi to seek funds through initial public offerings (IPOs).

The Securities Exchange Board of India (Sebi), where the two businesses had submitted their preliminary IPO papers in April, issued observation letters to them on September 22 and 23.

The regulator’s observation is interpreted as approval to start an initial share sale.

According to the draft papers, Gold Plus Glass Industry’s IPO will include a fresh issue of equity shares worth up to Rs 300 crore and an offer for sale (OFS) of up to 1,28,26,224 equity shares by promoters and current shareholders.

One of the top producers of float glass in India is Gold Plus Glass Industry has a 16% manufacturing capacity share. The company’s products are used in a variety of end-use industries, including the automotive, building, and industrial sectors.

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