Standard Glass Lining IPO will open for bidding on Monday, aiming to raise Rs 410.05 crore through its book-built issue, comprising a fresh issue of shares worth Rs 210 crore and an offer for sale of Rs 200.05 crore.
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Established in September 2012, Standard Glass Lining Technology Limited specialises in producing advanced engineering equipment tailored for India’s pharmaceutical and chemical industries. What sets the company apart is its ability to handle every stage of production under one roof, ensuring quality and consistency throughout the process.
The company offers comprehensive turnkey solutions to its clients. These include everything from conceptual design and engineering to manufacturing, assembly, and on-site installation. Additionally, it provides support with standard operating procedures, making it a one-stop partner for pharmaceutical and chemical manufacturers.
PRICE BAND AND OTHER DETAILS
The IPO (initial public offering) will remain open for bidding from January 6-8.
Price band for Standard Glass Lining IPO has been set at Rs 133-140 per share, with a minimum lot size of 107 shares. Retail investors will need to invest at least Rs 14,980, while small NIIs must invest Rs 2,09,720 (14 lots) and large NIIs Rs 10,03,660 (67 lots).
Standard Glass Lining successfully secured Rs 123.02 crore through its anchor investor segment ahead of its IPO launch. The company is led by its promoters, including Nageswara Rao Kandula, Kandula Krishna Veni, Kandula Ramakrishna, Venkata Mohana Rao Katragadda, Kudaravalli Punna Rao, and M/s S2 Engineering Services, reflecting a strong leadership team.
The IPO is being managed by IIFL Securities Ltd and Motilal Oswal Investment Advisors Limited as the book-running lead managers. Meanwhile, KFin Technologies Limited has been appointed as the registrar for handling the allotment and refund process.
LATEST GMP
The grey market premium (GMP) for Standard Glass Lining’s IPO has remained steady in recent days, showing no fluctuations.
As of January 6, 2025, at 5:04 AM, the GMP stood at Rs 97. With a price band set at Rs 140, the anticipated listing price for the IPO is around Rs 237, calculated by adding the cap price and the current GMP. This projection suggests a potential gain of approximately 69.29% per share.
The company plans to finalise the allotment on January 10 and list its shares on both NSE and BSE by January 14.
