Standard Glass Lining IPO opens next week. Check GMP, price band, other key details

Standard Glass Lining IPO: The initial public offering (IPO) of engineering equipment manufacturer Standard Glass Lining Technology Ltd is set to hit Dalal Street next week as the company plans to raise capital from primary markets.

Standard Glass Lining IPO will open for subscription on January 6 and close on January 8. The shares of the company are likely to be listed on January 13 on both the stock exchanges, BSE and NSE.

The company aims to raise ₹410.05 crore from the book-built issue which is a combination of fresh issue of 1.50 crore equity shares worth ₹210 crore and an offer-for-sale (OFS) of 1.43 crore shares aggregating to ₹200.05 crore.

Standard Glass Lining IPO price band is set at ₹133 to ₹140 per share and the IPO lot size 107 shares.

IIFL Securities, Motilal Oswal Investment Advisors are the book running lead managers of the Standard Glass Lining IPO, while Kfin Technologies is the IPO registrar.

Ahead of the issue opening, the trends for Standard Glass Lining shares in the unlisted market is bullish with a strong grey market premium (GMP). Here’s a look at what Standard Glass Lining IPO GMP today signals.

Standard Glass Lining IPO GMP Today

Standard Glass Lining IPO GMP today is ₹86 per share, according to stock market observers. This indicates that in the grey market, Standard Glass Lining shares are trading higher by ₹86 apiece than its issue price.

The latest Standard Glass Lining IPO GMP signals that the stock is trading at ₹226 apiece in the grey market, a premium of 61.43% to the IPO price of ₹140 per share.

Standard Glass Lining IPO Objectives

Standard Glass Lining proposes to utilize the net issue proceeds towards funding of capital expenditure requirements for the purchase of machinery and equipment, repayment or prepayment of certain outstanding borrowings and investment in the wholly owned material subsidiary, S2 Engineering Industry Private Limited and funding inorganic growth through strategic investments and/or acquisitions and for general corporate purposes.

About Standard Glass Lining Technology

Standard Glass Lining Technology manufactures engineering equipment for the pharmaceutical and chemical sectors. It provides turnkey solutions, including design, engineering, manufacturing, assembly, installation, and standard operating procedures for pharmaceutical and chemical manufacturers.

The company’s product portfolio includes Reaction Systems, Storage, Separation and Drying Systems.

Standard Glass Lining Technology’ revenue rose by 10% year-on-year (YoY) to ₹549.68 crore in FY24, while its net profit during the year increased by 12% YoY to ₹60.01 crore. For the six month ending September 2024, the company reported a net profit of ₹36.27 crore, upon a revenue of ₹312.1 crore.

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