Agarwal Toughened Glass gets NSE nod for warrant conversion listing
Agarwal Toughened Glass India Limited has received in-principle approval from the National Stock Exchange of India Limited to list 17.46 lakh equity shares and 46.80 lakh equity shares arising from the conversion of preferential warrants. The approval is subject to conditions including statutory compliance and strengthened internal controls to monitor allottee trading activities. The total issuance involves a maximum aggregate amount of ₹36,73,22,000 directed at promoter group members.
*this image is generated using AI for illustrative purposes only.
Agarwal Toughened Glass India Limited has secured in-principle approval from the National Stock Exchange of India Limited (NSE) to list equity shares arising from the conversion of warrants. The approval covers 17,46,000 equity shares and 46,80,000 equity shares of ₹10 each to be allotted upon the conversion of warrants issued on a preferential basis. This development follows the company's earlier announcement of a fund-raising initiative approved by shareholders on May 6, 2026.
The NSE granted the approval subject to specific conditions, including the filing of a listing application immediately after allotment and compliance with statutory guidelines from authorities such as SEBI, RBI, and MCA. The exchange emphasized that the company must adhere to all applicable regulations, including the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, and the Companies Act, 2013, at the time of listing.
Compliance and Monitoring Conditions
The exchange advised the company to strengthen internal controls to monitor trades executed by the proposed allottees to prevent non-compliances under Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations. Specifically, the company must obtain an undertaking from allottees confirming they will not engage in intra-day trading or sell the company's scrip until the allotment date.
The responsibility to verify this compliance rests solely on the issuer company. The NSE warned that any observed non-compliance post-undertaking could impact the listing of these shares. The exchange also reserved the right to withdraw the in-principle approval if the submitted information is found to be incomplete, incorrect, or misleading.
Allotment Details
The preferential issue is directed at the promoter group, including Mahesh Kumar Agarwal, Sharda Agarwal, Sharda Devi Agarwal, and Palak Agarwal. The total maximum aggregate amount for the issuance of equity shares and warrants is ₹36,73,22,000.
| Sr. No | Particulars | Maximum No. of Equity Shares to be Allotted | Maximum Aggregate Amount (in ₹) | Maximum number of Warrants to be allotted | Maximum Aggregate Amount (in ₹) |
|---|---|---|---|---|---|
| 1. | Mahesh Kumar Agarwal – Promoter | 1,08,000 | 1,17,72,000 | 8,40,000 | 9,15,60,000 |
| 2. | Sharda Agarwal - Promoter | 96,000 | 1,04,64,000 | 7,62,000 | 8,30,58,000 |
| 3. | Sharda Devi Agarwal - Promoter Group | 78,000 | 85,02,000 | 4,50,000 | 4,90,50,000 |
| 4. | Palak Agarwal - Promoter Group | 48,000 | 52,32,000 | 3,60,000 | 3,92,40,000 |
Anita Agarwal, Managing Director of Agarwal Toughened Glass India Limited, signed the disclosure regarding the receipt of the in-principle approval on June 19, 2026.
Historical Stock Returns for Agarwal Toughened Glass
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -4.45% | +8.38% | +18.99% | +11.89% | +12.03% | -1.45% |
How will the conversion of warrants into equity shares impact the company's capital structure and promoter holding percentage?
What strategic initiatives does Agarwal Toughened Glass plan to fund with the ₹36.73 crore raised through this preferential issue?
Could the strict monitoring conditions imposed by the NSE influence the company's ability to attract future institutional investors?
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