SMC Global Securities Limited ("the Company"), has acted as a Designated Market Maker in the initial public offer ("IPO") of the Agarwal Float Glass India Limited ("target company") and has acquired 5,91,000 equity shares aggregating to 8.16% of the total equity share capital or voting rights in the said target company.
The target company ("Agarwal Float Glass India Limited") has been listed on the Emerge Platform of Nation Stock Exchange of India Limited (NSE) on 23rd February, 2023 and the target company came up with an initial public offer (Public issue of up to 21,90,000 equity shares of face value Rs. 10 each ("equity shares") for cash at a price of Rs. 42 per equity share (including a securities premium of % 32 per equity share)(the "issue price"), aggregating to Rs. 919.80 lacs ("issue"). The Company is incorporated on 3rd May, 2018 and forms part of the Agarwal Group which has a legacy of more than two decades. Company is engaged in the business of trading of glass and specialised glass products by procuring quality products from manufacturers and selling it either through our sales managers or directly to our customers, as a wholesaler of glass and glass products.
The revenues from operations of the Company for the period ended HY 2023, Fiscals 2022, 2021 and 2020 was Rs. 2356.30 lakhs, Rs. 4210.22 lakhs, Rs. 3162.74 and Rs. 3208.85 lakhs respectively. The EBITDA for the period ended HY2023, Fiscals 2022, 2021 and 2020 was Rs. 427.14 lakhs, Rs. 238.95 lakhs, Rs. 152.10 and Rs. 169.39 lakhs, respectively. The profit after tax for the period ended HY23, Fiscals 2022, 2021 and 2020 was Rs. 267.75 lakhs, Rs. 101.68 lakhs, Rs. 24.73 and Rs. 8.83 lakhs, respectively as mentioned in the prospectus filed by the TC.
The acquisition of 1,14,000 equity shares of the TC was allotted to the Company prior to listing of shares of TC by virtue of being a designated market marker as mentioned in the Prospectus filed by the Target Company dated 03rd February, 2023.
The Company also acquired 5,46,000 equity shares of TC through open market on 23rd February, 2022 and sold 69,000 equity shares of the TC on the same day. Accordingly, the total shares acquired by the Company was 5,91,000 equity shares of TC.
Shares of SMC Global Securities Limited was last trading in BSE at Rs. 76.40 as compared to the previous close of Rs. 76.40. The total number of shares traded during the day was 2237 in over 181 trades.
The stock hit an intraday high of Rs. 77.10 and intraday low of 75.60. The net turnover during the day was Rs. 170702.00.