Hindusthan Glass To Raise Funds
Hindusthan National Glass is planning to raise R300 Cr. The company’s board meeting held on Tuesday has approved to issue new equity shares of face value of Rs. 2/- each at a premium, issue size aggregating, upto R300 Cr on Rights/Preferential basis, either as direct equity or through a convertible instrument.
Last December, Hindusthan National Glass announced its plan for acquisition opportunities in the container glass segment in the Europe.
In May 2011, the company acquired Germany-based Agenda Glas, AG for about 50 Mn euros (Rs.321 Cr), through its unit - HNG Global GmbH. In 2010, Sequoia Capital bought 7% stake in Hindusthan National Glass for R127 Cr ($27 mn) in an open market transaction and currently holds around 7.27% stake.
Founded in 1946 by C K Somany, HNG manufactures glass containers for all kinds of applications and caters to industries like liquor, cosmetics, beverages, processed foods, and pharmaceuticals.
It has facilities for production in Rishikesh, Nashik, Rishra, Bahadurgarh, Neemrana and Pondicherry. It has production capacity around 2825 tpd through 11 furnances and 44 production lines spread across six plants.
In this space, Germany based Gerresheimer AG has agreed to acquire a 70% stake in Gujarat-based Neutral Glass & Allied Industries. Binani Industries Ltd has acquired 3B - The Fibreglass Company from Platinum Equity. The deal size is estimated to be around $362Mn.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 2012-11-09 | Hindusthan National Glass - Fund Raise | Private Equity | - | |
| 2011-05-12 | Agenda Glas - Hindusthan National | M&A |
Hindusthan National Glass And Industries Limited |
71.35 |
| 2010-06-02 | Hindusthan Glass - Ironwood Investment (Sequoia) | Capital Market |
Sequoia Capital India |
27.00 |
| 2008-03-01 | ACC Ltd - AMCL Machinery - HNGIL Group | M&A |
Hindusthan National Glass And Industries Limited |
- |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 23/03/2013 | Private Equity | Blackstone Group | Sree Jayajothi Cements Limited | 101.33 | Completed |
| 19/03/2013 | Private Equity | India Business Excellence Fund | Magicrete Building Solutions Private Limited | 6.45 | Completed |
| 14/06/2012 | Private Equity | LIC of India | Sintex Industries Limited | 1.08 | Completed |
| 03/02/2012 | Private Equity | Emerging Markets Management LLC | Sintex Industries Limited | 2.97 | Completed |
Company | ||||
| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Hindusthan National Glass And Industries Limited | Chandra Kumar Somany | 2, 2nd Floor, Red Cross Place |
Piramal Glass Limited Sezal Glass Limited |
www.hngindia.com |
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