Standard Glass Lining Technology IPO Debuts at Premium: Investors Gain Over 25%

Vijay Singh
3 Min Read

Shares of Standard Glass Lining Technology Ltd, a leading pharmaceutical and chemical engineering equipment manufacturer, made a strong debut on the stock market on Monday, January 13, 2025. The company’s Initial Public Offering (IPO) listing on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) delivered notable gains to investors, despite falling short of grey market expectations.

Stock Market Debut Performance

  • On the BSE, Standard Glass Lining shares listed at Rs 176 per share, a premium of Rs 36 or 25.7% over the issue price of Rs 140.
  • On the NSE, the shares debuted at Rs 172, reflecting a premium of Rs 32 or 22.8% against the issue price.
  • Investors who received share allotments in the IPO made a profit of approximately Rs 36 per share, translating to over 25% gains on their investment.
  • The listing price, however, was below the grey market premium (GMP) of Rs 190, which had indicated a potential gain of Rs 50 or 35.71% over the issue price.

Standard Glass Lining IPO Details

  • Price Band: The IPO was offered in the price band of Rs 133-140 per share.
  • Lot Size: Investors could bid for a minimum of 107 shares per lot.
  • Subscription Period: The IPO was open from January 6, 2025, to January 8, 2025.
  • Total Offering: The IPO aimed to raise Rs 410 crore, and the response was overwhelming, with bids for 3,81,56,56,808 shares against the 2,08,29,567 shares offered, resulting in an oversubscription of 183.18 times.

Investor Category Subscription

  • Qualified Institutional Buyers (QIBs): Oversubscribed 331.60 times.
  • Non-Institutional Investors (NIIs): Oversubscribed 268.50 times.
  • Retail Individual Investors (RIIs): Oversubscribed 64.99 times.

The basis of allotment for the shares was finalized on January 9, 2025, with Kfin Technologies acting as the registrar for the issue. IIFL Securities and Motilal Oswal Investment Advisors served as the book-running lead managers for the IPO.

About Standard Glass Lining Technology

Standard Glass Lining Technology Ltd is a prominent player in the pharmaceutical and chemical engineering equipment sector, offering comprehensive solutions to its clients. The company specializes in:

  • Designing, engineering, manufacturing, assembly, and installation of equipment.
  • Commissioning solutions and establishing standard operating procedures for chemical and pharmaceutical manufacturers on a turnkey basis.

Core Offerings: The company’s portfolio includes glass-lined, stainless steel, and nickel alloy-based specialized engineering equipment. As of Fiscal 2024, it ranks among India’s top three manufacturers in this niche segment, based on revenue.

Investor Takeaway

The IPO debut of Standard Glass Lining Technology highlights its robust market position and investor confidence in its growth trajectory. Its strong oversubscription across investor categories underscores the company’s appeal as a key player in the pharmaceutical and chemical engineering space.

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