Standard Glass Lining IPO Day 1 Live Updates: Key Highlights, Subscription Status, and Insights
Standard Glass Lining’s initial public offer (IPO) opened for subscription on January 6, 2025. The issue received an overwhelming response and was subscribed over 4.32 times within the first few hours. The IPO will conclude its subscription period on January 8, 2025.
Standard Glass Lining IPO: Issue Details
Standard Glass Lining’s IPO is a book-built issue of ₹410.05 crore. The IPO will see the issue of 1.50 crore fresh equity shares and has an offer-for-sale component of ₹200.05 crore. The subscription period for the issue opened on January 6, 2025 and is scheduled to conclude on January 8, 2025. The basis of allotment for the shares will be finalised on January 9, 2025. Shares of the company will tentatively list on the stock exchange on January 13, 2025.
Standard Glass Lining IPO: Subscription Details
(January 6, 2025, 11:35 a.m.)
Standard Glass Lining’s IPO saw strong demand from retail and non-institutional investors on the first day of the subscription period as both segments were fully subscribed.
The company has offered 57.90 lakh shares for qualified institutional buyers (QIBs). However, the issue had received bids for just 11,128 shares. The NII portion was subscribed 6.39 times with bids for 2.88 crore shares against an offer of 45.11 lakh shares.
The retail investor portion received bids for 6.11 crore shares against an offer of 1.05 crore shares. The portion was subscribed 5.81 times.
In total, the issue was subscribed 4.32 times with bids for 9 crore shares against an offer of 2.08 crore shares.
The company announced that it had successfully raised ₹123.02 crore from its anchor investors on January 3, 2025.
Standard Glass Lining IPO: Price Band and Lot Size
Standard Glass Lining’s IPO has set the price band for the issue at ₹133-₹140 per share. The lot size for the issue is 107 shares. In order to apply to Standard Glass Lining IPO, an investor will have to make a minimum investment of ₹14,980. The minimum lot size for small and big high net-worth individuals is set at 14 lots and 67 lots, respectively.
About Standard Glass Lining
Standard Glass Lining is engaged in the manufacturing of engineering equipment for pharmaceutical and chemical sectors. The company provides solutions for manufacturing, assembly, design, and installation.
The company will utilise the net proceeds of the issue to fund the purchase of machinery and equipment. The company will also invest the funds in its wholly-owned material subsidiary, S2 Engineering Industry to fund its capital expenditure requirement.
Further, the funds will be utilised for partial or full prepayment/payment of loans availed by the company and S2 Engineering Industry. The company also intends to use the funds to support inorganic growth through acquisitions or strategic investments. Additionally, funds will also be used for general corporate purposes.
For the quarter ended September 30, 2024, the company reported a net profit of ₹36.27 crore on a revenue of ₹312.1 crore.
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