January 6, 2025
New Delhi, India
Standard Glass Lining IPO
The much-anticipated Standard Glass Lining IPO, marking the first mainboard initial public offering of 2025, opened with a bang on January 6. Within an hour of its launch, the IPO was fully subscribed, reflecting robust interest from retail and non-institutional investors alike. With a price band of ₹133–₹140 per share, the ₹410.05 crore issue has garnered significant traction in the market.
Key Highlights of Standard Glass Lining IPO
IPO Details:
- Issue Size: ₹410.05 crore
- Fresh Issue: ₹210 crore
- Offer for Sale (OFS): 1.43 crore shares
- Price Band: ₹133–₹140 per share
- Subscription Period: January 6–January 8, 2025
- Lot Size: Minimum 107 shares, requiring an investment of ₹14,980.
Market Response
- Subscription Status (as of 11:30 AM, January 6):
- Overall: 4.24x subscribed.
- Retail Investors: 5.69x subscribed.
- Non-Institutional Investors (NIIs): 6.29x subscribed.
Anchor Investor Participation
Before the IPO launch, the company secured ₹123 crore from anchor investors, including:
- Mutual Funds: ICICI Prudential MF, Tata MF, Kotak MF, and Motilal Oswal MF.
- Other Entities: Amansa Holdings, Clarus Capital, and the Massachusetts Institute of Technology.
87.86 lakh shares were allotted at ₹140 per share during the anchor round.
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Use of Proceeds
- Investment in a subsidiary.
- Debt repayment.
- Inorganic growth opportunities.
- Equipment purchase and corporate purposes.
Important Dates
- Subscription Ends: January 8, 2025
- Basis of Allotment: January 9, 2025
- Refunds Initiated: January 10, 2025
- Demat Transfer: January 10, 2025
- Listing: January 13, 2025 (BSE and NSE)
About Standard Glass Lining
A provider of turnkey solutions for pharmaceutical and chemical manufacturers, Standard Glass Lining boasts a client base including Suven Pharmaceuticals, Cadila Pharmaceutical, and Aurobindo Pharma.
With its successful IPO kickoff, Standard Glass Lining Technology is poised for growth, backed by strong investor confidence and market interest.
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