The Initial Public Offering (IPO) of Standard Glass Lining Technology will open for subscription on today , January 6, 2025, and close on January 8, 2025. This Hyderabad-based company is a prominent manufacturer of specialized engineering equipment, catering to India’s pharmaceutical and chemical sectors. The IPO aims to raise a total of ₹410.05 crore.
The IPO structure includes two components a fresh issue of 1.50 crore equity shares worth ₹210 crore and an offer for sale (OFS) of 1.43 crore shares amounting to ₹200.05 crore. The company has set the price band at ₹133 to ₹140 per share, with a face value of ₹10 per share. Investors can bid for a minimum lot size of 107 shares, and in multiples thereof.
Ahead of the IPO, the company successfully raised ₹123.01 crore from anchor investors on January 3, 2025. This reflects a strong interest in the IPO from institutional buyers. Additionally, the shares are allocated as follows: 50% for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 25% for Retail Investors.
The Grey Market Premium (GMP) for the IPO stood at ₹88 per share as of January 4. This indicates high demand, with shares potentially listing at around ₹228 per share, which represents a premium of 62.86% over the upper price band.
The company provides a wide range of products, including Reaction Systems, Storage Systems, and Separation and Drying Systems. Along with these products, it offers end-to-end solutions such as design, engineering, manufacturing, assembly, and installation. It also supports its clients by assisting with standard operating procedures, primarily catering to the needs of pharmaceutical and chemical manufacturers.
The company’s shares are expected to list on the stock exchanges on January 15, 2025. Many analysts have given positive reviews, citing the company’s robust business model and growth potential.
For investors seeking opportunities in growing industries, the Standard Glass Lining Technology IPO offers a chance to participate in a promising venture. However, as with any investment, it is advised to evaluate the risks and consult a financial advisor before making a decision.
