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Standard Glass Lining IPO: It is day 02 of the IPO bidding. The company aims to raise Rs 410 crore through a combination of a fresh issue and an offer for sale. The IPO was subscribed to a tune of 13.67 times on Day 01. The retail investors booked the issue 15.08 times. The NIIs subscribed to the issue 26.21 times.
The IPO was opened for subscription on January 06 and closed on January 08. The allotment of IPO shares will be finalised on January 09. The listing will likely take place on January 13. The IPO price band ranged from Rs 133 to Rs 140 per equity share. IIFL Securities and Motilal Oswal Investment Advisors worked as the book-running lead managers of the IPO, while Kfin Technologies was the registrar for the issue.
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The IPO has received 14.05 times subscriptions on Day 02 as of 1000 IST. The retail category booked the issue 15.41 times while the NIIs booked it 27.2 times. The QIBs subscribed to the issue 1.8 times.
09:31 (IST) 7 Jan 2025 Standard Glass Lining IPO subscription status: Company’s financials
The company’s financials have doubled over the past three years with an increase in revenue from Rs 240 crore in FY22 to 544 crore in FY24, a compounding growth of 50.4%. “Its EBDITA and profit also grew in the same range as there was some bout of borrowings with increased interest costs with respect to expansion in separation and drying systems,” said Reliance Securities in an IPO note.
09:13 (IST) 7 Jan 2025 Standard Glass Lining IPO subscription status: About the company
Standard Glass Lining Technology is one of the top five specialized engineering equipment manufacturers for pharmaceutical and chemical sectors in India,
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