Gold Plus Capacity Expansion and Foray into Solar Glass Manufacturing

Gold
Plus
Glass
Industry
Limited
(“Gold
Plus”),
the
second-largest
float
glass
manufacturer
in
India
with
22%
share
of
manufacturing
capacity
for
float
glass
as
of
September
30,
2023
(Source:
CRISIL
Report
dated
January
2024),
proudly
announces
the
successful
commissioning
of
its
manufacturing
facility
in
Karnataka.
With
this
expansion,
Gold
Plus
has
solidified
its
position
and
further
diversified
its
product
offerings
by
entering
the
solar
glass
segment.

Gold
Plus
Glass
Industry
Plant
In
Karnataka

The
Karnataka
project
achieved
Commercial
Operations
Date
(COD)
milestones
in
June
2024.
The
total
phase
wise
float
glass
manufacturing
capacity
installed
in
the
Project
is
584,000
metric
ton
per
annum
and
Solar
Glass
manufacturing
capacity
is
109,500
metric
tons
per
annum.
The
project’s
total
investment
of
Rs.
2,500
crore
underscores
Gold
Plus
commitment
to
driving
innovation
and
capacity
expansion
in
India’s
glass
manufacturing
industry.
The
Company
already
has
an
existing
facility
of
456,250
metric
tons
per
annum
at
its
Roorkee
Plant.
[With
the
addition
of
the
Karnataka
facility,
Gold
Plus’
total
installed
float
glass
capacity
now
exceeds
one
million
tons
annually,
reaching
an
impressive
1,040,250
metric
tons
per
annum
and
Solar
Glass
capacity
of
109,500
tons
per
annum.

As
per
CRISIL
report
dated
January
2024,
post
expansion
and
achievement
of
COD
in
June
2024,
the
Company’s
capacity
share
is
expected
to
be
26.1%
of
the
total
float
glass
industry
capacity
in
India.

A
Vision
for
Gold
Plus

Gold
Plus’
Karnataka
facility
is
not
just
an
achievement
in
capacity
expansion
but
a
testament
to
the
company’s
dedication
to
advancing
India’s
glass
manufacturing
capabilities.
By
combining
enhanced
float
glass
capacity
with
entry
into
solar
glass
production,
Gold
Plus
is
well-equipped
to
support
the
evolving
needs
of
industries
ranging
from
real
estate
to
renewable
energy.

“The
commissioning
of
our
Karnataka
facility
marks
a
significant
milestone
in
Gold
Plus’
journey.
It
reflects
our
unwavering
commitment
to
innovation,
sustainability,
and
customer-centric
growth,”
said

Jimmy
Tyagi,
CEO,
Gold
Plus
Glass
Industry
Limited.
“We
are
proud
to
play
a
pivotal
role
in
meeting
India’s
growing
demand
for
high-quality
float
and
solar
glass,
contributing
to
the
country’s
economic
and
environmental
aspirations.”

With
this
milestone,
Gold
Plus
continues
to
contribute
in
reshaping
India’s
glass
manufacturing
landscape,
delivering
excellence
and
fostering
sustainable
growth.

Gold
Plus
Glass
Industry
Limited
is
proposing,
subject
to
applicable
statutory
and
regulatory
requirements,
receipt
of
requisite
approvals,
market
conditions
and
other
considerations,
to
make
an
initial
public
offer
of
its
Equity
Shares
and
has
filed
the
DRHP
dated
February
9,
2024
with
SEBI.
The
DRHP
is
available
on
the
website
of
SEBI
at
www.sebi.gov.in,
the
websites
of
the
Stock
Exchanges
i.e.,
BSE
and
NSE
at
www.bseindia.com
and
www.nseindia.com,
respectively,
and
the
websites
of
the
BRLMs,
i.e.,
IIFL
Securities
Limited,
Axis
Capital
Limited,
Kotak
Mahindra
Capital
Company
Limited
and
SBI
Capital
Markets
Limited
at
www.iiflcap.com,
www.axiscapital.co.in,
https://investmentbank.kotak.com
and
www.sbicaps.com,
respectively.
Potential
investors
should
note
that
investment
in
equity
shares
involves
a
high
degree
of
risk
and
for
details
relating
to
such
risk,
please
see
the
section
entitled
“Risk
Factors”
of
the
RHP,
once
filed.
Potential
investors
should
not
rely
on
the
DRHP
filed
with
SEBI
for
making
any
investment
decision
and
must
rely
on
their
own
examination
of
our
Company
and
the
Offer,
including
the
risks
involved.

This
announcement
does
not
constitute
an
invitation
or
offer
of
securities
for
sale
in
any
jurisdiction.
The
Equity
Shares
offered
in
the
Offer
have
not
been,
and
will
not
be,
registered
under
the
U.S.
Securities
Act
of
1933,
as
amended
(“U.S.
Securities
Act”)
and
may
not
be
offered
or
sold
within
the
United
States,
except
pursuant
to
an
exemption
from,
or
in
a
transaction
not
subject
to,
the
registration
requirements
of
the
U.S.
Securities
Act
and
applicable
state
securities
laws.
Accordingly,
the
Equity
Shares
are
being
offered
and
sold
(a)
within
the
United
States
solely
to
“qualified
institutional
buyers”
(as
defi
ned
in
Rule
144A
under
the
U.S.
Securities
Act)
pursuant
to
Section
4(a)
of
the
U.S.
Securities
Act,
and
(b)
outside
the
United
States
in
offshore
transactions
as
defi
ned
in
and
in
compliance
with
Regulation
S
under
the
U.S.
Securities
Act
and
the
applicable
laws
of
the
jurisdiction
where
those
offers
and
sales
are
made.
There
will
be
no
public
offering
of
securities
in
the
United
States.

This
press
release
contains
data
and
statistics
from
certain
reports
and
the
CRISIL
Report,
which
is
subject
to
the
following
disclaimer:

CRISIL
Market
Intelligence
&
Analytics
(CRISIL
MI&A),
a
division
of
CRISIL
Limited
(CRISIL)
has
taken
due
care
and
caution
in
preparing
this
report
(Report)
based
on
the
Information
obtained
by
CRISIL
from
sources
which
it
considers
reliable
(Data).
This
Report
is
not
a
recommendation
to
invest
/
disinvest
in
any
entity
covered
in
the
Report
and
no
part
of
this
Report
should
be
construed
as
an
expert
advice
or
investment
advice
or
any
form
of
investment
banking
within
the
meaning
of
any
law
or
regulation.
Without
limiting
the
generality
of
the
foregoing,
nothing
in
the
Report
is
to
be
construed
as
CRISIL
providing
or
intending
to
provide
any
services
in
jurisdictions
where
CRISIL
does
not
have
the
necessary
permission
and/or
registration
to
carry
out
its
business
activities
in
this
regard.
Gold
Plus
Glass
Industry
Limited
will
be
responsible
for
ensuring
compliances
and
consequences
of
non-compliances
for
use
of
the
Report
or
part
thereof
outside
India.
CRISIL
MI&A
operates
independently
of,
and
does
not
have
access
to
information
obtained
by
CRISIL
Ratings
Limited,
which
may,
in
their
regular
operations,
obtain
information
of
a
confidential
nature.
The
views
expressed
in
this
Report
are
that
of
CRISIL
MI&Aand
not
of
CRISIL
Ratings
Limited.
No
part
of
this
Report
may
be
published/reproduced
in
any
form
without
CRISIL’s
prior
written
approval.