Asahi India Glass Limited, a prominent player in the glass manufacturing industry, has successfully completed its Qualified Institutions Placement (QIP) of equity shares, raising ₹100 crore. The company's LTP Committee approved the allocation of 1,18,37,261 equity shares at an issue price of ₹844.79 per share.

QIP Details

The QIP process concluded with the LTP Committee meeting, where several key resolutions were passed:

1. Approval of the Issue closure
2. Determination of share allocation and pricing
3. Adoption of the Placement Document
4. Finalization of the Confirmation of Allocation Note (CAN)
5. Approval for issuing refund intimation letters to eligible bidders

Share Allocation and Pricing

The committee approved the following:

• Number of shares allocated: 1,18,37,261 equity shares
• Face value: ₹1 per share
• Issue price: ₹844.79 per share
  • Includes a premium of ₹843.79

The pricing was determined in accordance with the formula prescribed under Regulation 176(1) of the SEBI ICDR Regulations.

Regulatory Compliance

Asahi India Glass Limited has ensured compliance with the relevant regulations, including:

• Chapter VI of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018
• Sections 42 and 62 of the Companies Act, 2013

The company has filed the Placement Document with the stock exchanges as part of its regulatory obligations.

Company Information

Asahi India Glass Ltd. is headquartered in Gurugram, Haryana, with its registered office in New Delhi.

This successful QIP demonstrates Asahi India Glass's ability to attract institutional investors and raise capital, which could potentially support the company's growth initiatives and financial position in the competitive glass manufacturing sector.

Asahi India Glass Limited , a leading player in the glass manufacturing industry, has initiated a Qualified Institutions Placement (QIP) of equity shares, setting the stage for a significant capital raise. The company's LTP Committee has approved the preliminary placement document and established a floor price of ₹844.79 per equity share for the QIP on September 15, 2025.

QIP Details and Pricing

The QIP involves the issuance of equity shares with a face value of ₹1 each. This comes after receiving necessary approvals from the board of directors on January 29, 2025, and shareholders through a special resolution on March 15, 2025. In a move that could potentially attract more institutional investors, Asahi India Glass may offer a discount of up to 5% on the floor price, as permitted under the Securities and Exchange Board of India (SEBI) regulations.

Regulatory Compliance and Timeline

The company has meticulously followed regulatory procedures, with the 'relevant date' for the QIP set as September 15, 2025, in accordance with SEBI's Issue of Capital and Disclosure Requirements (ICDR) Regulations. This date coincides with the LTP Committee's decision to open the issue.

To maintain market integrity during this crucial period, Asahi India Glass has closed its trading window until September 18, 2025. This temporary closure ensures compliance with insider trading regulations and maintains a level playing field for all market participants.

Next Steps

A pivotal meeting of the LTP Committee is scheduled for September 18, 2025. During this meeting, the committee will determine the final issue price for the equity shares to be allotted to qualified institutional buyers. This price may include a discount, if any, as permitted under SEBI ICDR Regulations.

Corporate Governance and Transparency

Asahi India Glass has demonstrated its commitment to transparency by promptly informing the stock exchanges about the QIP proceedings. The company's Executive Director, General Counsel & Company Secretary confirmed that these disclosures comply with Regulations 29(1) and 30 of the SEBI (Listing Obligations Disclosure Requirements) Regulations, 2015.

The QIP represents a strategic move by Asahi India Glass to strengthen its capital base. As the glass industry continues to evolve, the success of this placement could provide the company with the financial flexibility needed to pursue growth opportunities and enhance its market position.

Investors and market watchers will be keenly awaiting the outcome of the September 18 meeting, which will reveal the final pricing and success of this capital raising initiative.