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Asahi India Glass Limited, a leading name in India’s glass manufacturing sector, has completed its Qualified Institutions Placement (QIP) of equity shares, securing Rs 100 crore in capital. The company’s LTP Committee approved the allotment of 1,18,37,261 equity shares at an issue price of Rs 844.79 per share, which includes a premium of Rs 843.79 over the face value of Rs 1.
The QIP process concluded with a formal meeting of the LTP Committee, where several resolutions were passed:
- Closure of the issue
- Finalization of share allocation and pricing
- Adoption of the Placement Document
- Confirmation of Allocation Note (CAN)
- Approval for issuing refund intimation letters to eligible bidders
The pricing was determined in accordance with Regulation 176(1) of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The company also ensured full compliance with Sections 42 and 62 of the Companies Act, 2013.
Asahi India Glass has filed the Placement Document with the stock exchanges, fulfilling its regulatory obligations. The successful QIP is expected to strengthen the company’s balance sheet and support future growth initiatives in both automotive and architectural glass segments.
