January 3, 2025
New Delhi, India
Upcoming IPO
The initial public offering (IPO) of Standard Glass Lining Technology Ltd, a leading engineering equipment manufacturer for the pharmaceutical and chemical sectors, is set to hit the markets on January 6, 2025.
Key Highlights
- IPO Dates:
Subscription starts January 6 and ends January 8. - Price Band and Lot Size:
- Price range: ₹133-₹140 per equity share.
- Minimum lot size: 107 shares, requiring a bid of ₹14,980.
- Fundraising Objective:
Total issue size of ₹410.05 crore, comprising:- Fresh issue of shares worth ₹210 crore.
- Offer-for-sale (OFS) of 1.43 crore shares by promoters and stakeholders.
- Use of Proceeds:
- ₹130 crore for debt repayment.
- ₹30 crore investment in subsidiary S2 Engineering Industry.
- ₹20 crore for strategic acquisitions.
- ₹10 crore for purchasing machinery.
- Remaining funds for corporate purposes.
Allotment and Listing Dates
- Allotment Finalization: January 9, 2025.
- Listing Date: Shares to debut on NSE and BSE on January 13, 2025.
Grey Market Premium (GMP)
The IPO has generated significant buzz in the grey market, with a premium of ₹86 per share. This places the implied trading price at ₹226, a 61.43% premium over the upper issue price of ₹140.
Financial Performance
- FY24 Revenue: ₹549.68 crore, a YoY growth of 10%.
- FY24 Net Profit: ₹60.01 crore, up 12% YoY.
- H1 FY25 Results: ₹312.1 crore revenue and ₹36.27 crore net profit.
About Standard Glass Lining Technology
Standard Glass Lining is a specialized manufacturer of engineering equipment catering to pharmaceutical and chemical industries. Its offerings include turnkey solutions across:
- Reaction Systems
- Storage Systems
- Separation and Drying Systems
The company is renowned for its in-house capabilities in design, engineering, manufacturing, and installation, enabling seamless integration for its clients.
With robust financials and a strong market position, the Standard Glass Lining IPO offers an attractive opportunity for investors. Its listing on January 13 will be closely watched, given the bullish sentiment in the grey market.
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