Standard Glass Lining (SGL) IPO:
BILKULONLINE
Ahmedabad, Jan 2: Standard Glass Lining Technology Limited, a leader in industrial glass lining solutions, is gearing up to launch its much-anticipated Initial Public Offering (IPO). With a mix of growth potential and financial stability, the IPO offers investors an attractive opportunity, particularly those with moderate to high-risk appetites.
The IPO will open on January 6, 2025, and close on January 8, 2025. The company aims to raise approximately ₹410.05 crores through a Book Built Issue, which includes a fresh issue of shares worth ₹210 crores and an offer for sale of up to 1,42,89,367 equity shares, amounting to ₹200.05 crores. The price band has been set at ₹133 to ₹140 per share, with a face value of ₹10 each.
The allocation for the IPO comprises 35% for retail investors, 50% for Qualified Institutional Buyers (QIBs), and 15% for High Net-worth Individuals (HNIs). The allotment date is set for January 9, 2025, and the company’s shares will be listed on the BSE and NSE on January 13, 2025.
Nageswara Rao Kandula, Managing Director, Anjaneyulu Pathuri, CFO, along with Katragadda Venkata Mohana Rao and Tanmay Jagdale from Motilal Oswal Investment Advisors, visited Ahmedabad and engaged with the media. SGL’s MD and CFO also participated in the media interaction, where they provided detailed insights about the company’s IPO.
Narendra Vaswani, Director of Plant Sales at International Process Plant, New Jersey, USA, was also in attendance at the media interaction for the SGL IPO in Ahmedabad on Jan 2, 2025.
- Standard Glass Lining Technology, a company that provides comprehensive solutions for pharmaceutical and chemical manufacturers, is bringing its Rs 410.05 crore IPO to the market. It will open for subscription on January 6th and close on January 8th, 2025.
- Standard Glass Lining Technology IPO Details
The Standard Glass Lining IPO is a book-built offering worth ₹410.05 crores. It comprises a fresh issue of 1.50 crore shares, raising ₹210.00 crores, and an offer for sale of 1.43 crore shares, amounting to ₹200.05 crores.
The IPO will open for subscription on January 6, 2025, and close on January 8, 2025.
The allotment of shares is expected to be finalized on January 9, 2025, with the company’s debut on the NSE and BSE scheduled for January 13, 2025.
The price band for the issue is set between ₹133 and ₹140 per share.
Retail investors can participate with a minimum lot size of 107 shares, requiring an investment of ₹14,980. For small non-institutional investors (sNII), the minimum investment is 14 lots (1,498 shares) at ₹2,09,720, while for large non-institutional investors (bNII), it’s 67 lots (7,169 shares), totalling ₹10,03,660.
Strong Financial Performance
Standard Glass Lining reported revenue of ₹549.68 crores in 2024, up from ₹500.08 crores in 2023. The company’s net profit also saw an increase, rising to ₹60.01 crores in 2024 from ₹53.42 crores in 2023. This consistent financial growth positions the IPO as a viable long-term investment opportunity.
Objects of the Issue
The company intends to utilize the proceeds from the IPO for:
Capital Expenditure: Funding the purchase of machinery and equipment.
Disclaimer: Readers are advised to carefully study the IPO prospectus and consult their financial advisors before making any investment decisions.
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