As the allotment of the Standard Glass Lining IPO has been finalised, all eyes are now on its listing on Monday, January 13. here’s a step-by-step guide to check the allotment status.
Standard Glass Lining IPO Allotment Status: As the allotment of the Standard Glass Lining IPO has been finalised, all eyes are now on its listing on Monday, January 13. According to market observers, the GMP of the IPO currently stands at 55.71 per cent, which indicates a strong gain for investors.
As the Standard Glass Lining IPO allotment has been finalised, investors can check the allotment status on the websites of the BSE and NSE, as well as on registrar Kfin Technologies’ portal.
The shares of Standard Glass Lining Ltd are scheduled to be listed on both BSE and NSE on January 13, Monday.
The initial public offering of Standard Glass Lining Ltd, which was opened on between January 6 and January 8, received a whopping 185.48 times subscription. The retail category received a 65.71 times subscription in total, the NII (non-institutional investors) portion got 275.21 times subscription. Its QIB (qualified institutional buyer) category has been subscribed by 327.76 times.
The price band of the IPO was fixed at Rs 133 to Rs 140 apiece.
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Standard Glass Lining IPO: How To Check Allotment Status Online?
The IPO allotment status can be checked online by following these steps:
1) Go to the official BSE website via the URL —https://www.bseindia.com/investors/appli_check.aspx.
2) Under ‘Issue Type’, select ‘Equity’.
3) Under ‘Issue Name’, select ‘Standard Glass Lining Ltd’ in the dropbox.
4) Enter your application number, or the Permanent Account Number (PAN).
5) Then, click on the ‘I am not a robot’ to verify yourself and hit ‘Search’ option.
Your share application status will appear on your screen.
You can also visit direct Kfin Technologies’s portal — https://rti.kfintech.com/ipostatus/ and check the Standard Glass Lining IPO allotment status.
Standard Glass Lining IPO GMP Today
According to market observers, unlisted shares of Standard Glass Lining Ltd are currently trading at Rs 218 per share in the grey market, which is Rs 78 or 55.71 per cent higher than the IPO issue price of Rs 140. It indicates a strong listing on January 13.
The 60.71 per cent GMP is lower than the 55.71 per cent premium recorded in the morning on Thursday.
The GMP is based on market sentiments and keeps changing. ‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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Standard Glass Lining IPO: More Details
The Rs 410.05-crore Standard Glass Lining IPO is a combination of fresh issuance of equity shares worth Rs 210 crore and an offer for sale (OFS) of up to 1.43 crore shares by promoters and other selling shareholders, according to the red herring prospectus (RHP).
S2 Engineering Services, Kandula Ramakrishna, Kandula Krishna Veni, Nageswara Rao Kandula, Standard Holdings, Katragadda Venkata Ramani, and Venkata Siva Prasad Katragadda are among shareholders selling shares through the OFS route.
Proceeds from the fresh issue to the extent of Rs 130 crore will be used by the company for debt repayment and Rs 30 crore for investment in a wholly-owned subsidiary S2 Engineering Industry.
Funds worth Rs 20 crore will also be utilised by the company towards inorganic growth through strategic investments or acquisitions, Rs 10 crore for the purchase of machinery and equipment and a portion will also be used for general corporate purposes.
Standard Glass Lining Technology has mobilised Rs 123 crore from anchor investors ahead of its IPO.
Standard Glass Lining Technology offers comprehensive solutions that encompass design, engineering, manufacturing, assembly, installation, and commissioning and establishing standard operating procedures for pharmaceutical and chemical manufacturers on a turnkey basis.
Some of its pharma clients include Aurobindo Pharma, Cadila Pharmaceutical, Granules India Ltd, Macleods Pharmaceuticals, Piramal Pharma, and Suven Pharmaceuticals.
IIFL Capital Services Ltd (formerly known as IIFL Securities Ltd) and Motilal Oswal Investment Advisors Ltd are the book-running lead managers, while KFin Technologies is the registrar for the issue.
The shares will be listed on the BSE and the National Stock Exchange (NSE).
