Standard Glass Lining Technology IPO Day 2 Live Updates: GMP, Key Highlights, Subscription Status, and Insights
It’s Day Two of the initial public offering (IPO) bid of Standard Glass Lining Technology Limited. The company is a manufacturer of specialised engineering equipment for the pharmaceutical and chemical sectors. The IPO bidding will close tomorrow, i.e., Wednesday, January 8, 2025.
Standard Glass Lining Technology IPO Details
- The company aims to raise Rs 410.05 crore through the IPO, including a fresh issue of shares worth Rs 210.00 crore and an offer-for-sale (OFS) component of Rs 200.05 crore.
- The IPO opened on January 6, 2025, and is scheduled to close on January 8, 2025.
- The price band is set between Rs 133 to Rs 140 per share.
- The IPO will be listed on the NSE and BSE on Monday, January 13, 2025.
- Retail investors can apply for a minimum of 1 lot, which includes 107 shares, requiring an investment of Rs 14,980. For sNII (small non-institutional investors), the minimum application size is 14 lots (1,498 shares), amounting to Rs 2,09,720. For bNII (big non-institutional investors), the minimum investment is 67 lots (7,169 shares), totalling Rs 10,03,660.
- Book-running lead managers for the Standard Glass Lining IPO are IIFL Securities Ltd and Motilal Oswal Investment Advisors Limited.
- Kfin Technologies Limited is serving as the registrar for the IPO.
Use of Proceeds
- Allocating approx Rs 100 million to finance the acquisition of machinery and equipment for the company.
- Repay or prepay a portion of the company's outstanding borrowings and support its wholly-owned subsidiary, S2 Engineering Industry Private Limited, in repaying or prepaying its borrowings from banks and financial institutions.
- Providing Rs 300 million to S2 Engineering Industry Private Limited to meet its capital expenditure needs for purchasing machinery and equipment.
- For growth through strategic partnerships or acquisitions.
- Allocating funds for various corporate requirements.
Standard Glass Lining IPO Day 2 Subscription Status
07-Jan-2025 12:33:00 (Day 2)
On Day 2, Standard Glass Lining was subscribed 23.07 times, with Retail Investors subscribing 23.82 times, Non-Institutional Buyers 46.54 times, and Qualified Institutional Buyers 3.41 times.
Standard Glass Lining IPO Day 1 Subscription Status
On Day 1, the IPO was subscribed 13.67 times. The portion set aside for Retail Investors saw 15.08x subscription, Non-Institutional Buyers 26.21x, and Qualified Institutional buyers segment, 1.8x.
Standard Glass Lining – Business Overview
Standard Glass Lining is one of India’s leading specialised engineering equipment manufacturers, serving the pharmaceutical and chemical sectors with end-to-end capabilities across the entire process chain, from design and production to installation and commissioning.
The company has been recognised as one of India’s top three glass-lined, stainless steel, and high-alloy-based equipment manufacturers and a leading supplier of PTFE-lined pipelines and fittings.
Standard Glass Lining GMP Details
As of January 7, 2025, the grey market premium (GMP) for Standard Glass Lining Technology's IPO is approximately Rs 93, indicating a 66% premium over the upper end of the issue price.
Disclaimer: The GMP (Grey Market Premium) price is unauthenticated market-related news and has no discernible basis. The same quoted above is as per news that appeared in the media report and is for information purposes only. The investor shall do their own study/research before using the same for taking any decision to invest. We neither engage in, trade or deal in the grey market, nor we recommend or endorse trading in the grey market.
Standard Glass Lining Financial Highlights
- As of 31 March 2024, Standard Glass Lining’s revenue from operations stood at Rs 543.67 crore, up about 9.3% from Rs 497.59 crore in the corresponding period of the previous year. For the six months ended 30 September 2024, revenue stood at ₹307.20 crore.
- As of 31 March 2024, the company recorded a profit of Rs 60.01 crore, compared to a profit of Rs 53.42 crore in the previous year.
Key Ratios
|
Year |
FY24 |
|
ROE |
20.74% |
|
ROCE |
25.49% |
|
EBITDA Margin |
18.36% |
|
PAT Margin |
10.92% |
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