Investors are preparing for Standard Glass Lining’s IPO, with the grey market already buzzing.
GMP, a vital barometer of investor sentiment, is witnessing a robust surge, suggesting that the company’s shares will be in high demand as early as next week.
Standard Glass Lining IPO Details
Standard Glass Lining’s IPO will open for subscription on January 6, 2025, and close on January 8, 2025. This IPO’s key details are as follows:
- Face Value: The face value of the equity shares is ₹10 per share.
- IPO Price Band: The price band is set between ₹133 to ₹140 per share.
- Issue Size: The total issue size is approximately ₹410.05 crores, which includes a fresh issue of shares worth around ₹210 crores and an offer for sale (OFS) of approximately 1,42,89,367 equity shares.
- Issue Type: This is a Book Built Issue IPO.
- IPO Listing: The shares will be listed on both the BSE and NSE.
Quota Allocation:
- Retail Quota: Not more than 35% of the issue is reserved for retail investors.
- QIB Quota: Not more than 50% is reserved for Qualified Institutional Buyers (QIBs).
- NII Quota: Not more than 15% is allocated for Non-Institutional Investors (NIIs).
Key Dates for Standard Glass Lining IPO:
- IPO Open Date: January 6, 2025
- IPO Close Date: January 8, 2025
- Basis of Allotment: January 9, 2025
- Refunds: January 10, 2025
- Credit to Demat Account: January 10, 2025
- IPO Listing Date: January 13, 2025
This information will help investors plan their participation in the Standard Glass Lining IPO.
Learn about in details: What Is an IPO? A Simple Guide to Initial Public Offerings
Standard Glass Lining IPO GMP
The grey market premium (GMP) for Standard Glass Lining IPO reached a high of ₹90 on January 3, 2025, after starting at ₹83 on January 2, 2025.
An increase in investor interest and confidence ahead of the IPO opening on January 6, 2025 is reflected in this trend. The IPO aims to raise a total of ₹410.05 crores, with a price band set at ₹133 to ₹140 per share and a market lot of 107 shares.
The Standard Glass Lining Technology Limited has been manufacturing engineering equipment for the pharmaceutical and chemical industries since 2012.
The company manages all aspects of its operations, including design and engineering, manufacturing, assembly, and installation. A wide range of industries are served, including paint, biotechnology, pharmaceuticals, and food and beverage.
In India, Standard Glass Lining is renowned for its high-quality glass-lined, stainless-steel, and alloy equipment.
A major supplier of polytetrafluoroethylene (PTFE) and pipeline fittings, the company ranks among the top three nationwide. The company has delivered 11,000 products over the past decade, demonstrating a robust manufacturing capability and industry expertise.
The company is notable for being the only one in India to offer stainless steel glass-lined reactors with a capacity of 10KL.
The firm’s unique capability, coupled with qualified leadership and innovative solutions, makes it a promising investment prospect for investors looking at its IPO.
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All About Standard Glass Lining Technology IPO
In its IPO, this Hyderabad-based company plans to raise Rs. 410.05 crore. A total of 1.50 crore shares at a value of 210 crore will be issued, along with an offer for sale of 1.43 crore shares valued at 200.05 crore.
Before the public issue, the company raised ₹123.01 crore through its anchor round on January 3, 2025.
Use of Funds
The company plans to utilize ₹10 crore for purchasing machinery and equipment, ₹130 crore to repay or prepay certain borrowings, and ₹30 crore to invest in its subsidiary, S2 Engineering Industry Private Limited, for machinery and equipment purchases.
Additionally, ₹20 crore is allocated for strategic investments and acquisitions, while the remaining funds will be used for general corporate purposes.
IPO Reservation
The company has reserved 50% of the IPO for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 25% for retail investors, as per its Red Herring Prospectus (RHP).
Business and Financial Performance
Standard Glass Lining Technology specializes in providing Reaction Systems, Storage, Separation, and Drying Systems for pharmaceutical and chemical manufacturers. Their services also include design, engineering, manufacturing, installation, and standard operating procedures.
Financially, the company’s revenue grew by 10% year-on-year to ₹549.68 crore in FY 2023-24, while profits increased by 12% to ₹60.01 crore during the same period.
IPO Managers
IIFL Securities and Motilal Oswal Investment Advisors are managing the IPO as book-runners, and Kfin Technologies is the registrar for the offer.
