Gold Plus Glass Industry Limited (Gold Plus), the only Indian owned domestic float glass manufacturer and a dominant player in the building \/ architectural glass segment, has successfully raised Rs. 400 crores from marquee Indian investor, Premji Invest, Azim Premji\u2019s Investment arm, to fund its expansion plans.<\/p>\n
Over the next 3-4 years, Gold Plus will invest over Rs. 2000 crores for adding two new float glass lines in India. This expansion is targeted to capture the exponential growth in demand estimated to be witnessed by the industry from mega government initiatives like the announcement of 100+ smart cities, development of Airports, Metros, large infrastructure projects, increased use of energy efficient materials in construction & high demand from the real estate replacement & redevelopment market. Altamount Capital Management acted as an exclusive advisor to Gold Plus Glass Industry Limited. <\/em><\/strong><\/p>\n Gold Plus currently operates two float glass lines (clear glass and tinted glass) with a combined installed capacity of 427,000 tonnes per annum; commands a 16% share of the current installed float glass capacities in the country. This investment from Premji Invest will help the Company increase its capacity by an additional 730,000 tonnes per annum. Through this expansion, Gold Plus plans to \u00a0cater to the increasing demand , reduce the dependence of significant glass \u00a0imports, thereby \u00a0contributing towards the Make in India initiative and also creating large scale employment opportunities.<\/p>\n Gold Plus operates a fully integrated manufacturing facility at Roorkee, Uttarakhand spread across 100 acres and \u00a0the only facility in North India capable of supplying the highest grades of clear, tinted, hard coated reflective, frosted and mirror glass from a single location.\u00a0Gold Plus also operates two processing units in Haryana and Himachal Pradesh for value-added glass such as toughened, laminated, insulating, ceramic printed, acoustic, bullet proof and automotive glass.<\/p>\n \u201cGold Plus has a huge opportunity to transform the float glass sector in India and be a pioneer of the industry. We believe that the investment from Premji Invest will help us accelerate our expansion plans and also enable us to increase our market share. The growth in the demand for float glass in India is expected to be robust on a long-term basis.\u201d\u00a0\u00a0Speaking on the fund raise,\u00a0 Subhash Tyagi, the founder and chairman of Gold Plus Glass Industry Limited said,According to\u00a0 Tyagi the country needs to add 2-3 float line every 3 years to match up with the demand requirement.<\/em><\/p>\n Jimmy Tyagi, the Executive Director of Gold Plus Glass Industry Limited said \u201cOur motto, from inception, is to provide quality products with impeccable services to our customers. This attitude makes up the DNA of Gold Plus. We are focused to resolve the challenges faced by the customers and exceed \u00a0their expectations..\u201d<\/p>\n \u00a0<\/strong>Pranav Joshi, Co-founder & CEO of Altamount Capital said, \u201cThe investment by Premji Invest into Gold Plus Glass Industry Limited, signals a big shift within the Indian float glass industry and is a very good example of the `Make in India\u2019 story. It truly demonstrates the strength of domestic entrepreneurship and domestic capital.\u201d<\/p>\n According to Prasanna Shastry, Executive Director \u2013 Corporate Advisory, Altamount Capital, \u201cAs equity partners, Premji Invest bring along their vision and experience for sustainable long term value creation. The partnership with Premji Invest will accelerate Gold Plus vison of becoming a market leader in the Glass Industry.<\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" Gold Plus Glass Industry Limited (Gold Plus), the only Indian owned domestic float glass manufacturer and a dominant player in the building \/ architectural glass segment, has successfully raised Rs. 400 crores from marquee Indian investor, Premji Invest, Azim Premji\u2019s Investment arm, to fund its expansion plans. Over the next 3-4 years, Gold Plus will […]<\/p>\n","protected":false},"author":3,"featured_media":1512,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[31],"tags":[919,917,918,363,916],"class_list":["post-1511","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altamount-capital-management","tag-float-glass-manufacturer","tag-gold-plus","tag-make-in-india","tag-premji-invest"],"aioseo_notices":[],"yoast_head":"\n