Standard Glass Lining Technology, a Hyderabad-based manufacturer of specialised engineering equipment for the pharmaceutical and chemical industries, made its much-anticipated stock market debut today, January 13.
The shares were listed on both the headline indices, BSE and the NSE. On the BSE, the shares opened at Rs 176, a 26% premium over the IPO’s upper price band of Rs 140. On the NSE, the shares debuted at Rs 171.40, a 22.7% gain.
Standard Glass Lining IPO – Subscription details
Standard Glass Lining Technology, which opened for bidding from January 6 to January 8, saw an overwhelming subscription of 185.48 times. The retail investors portion of the issue was subscribed 65.71 times, while Qualified Institutional Buyers (QIBs) received a subscription rate of 327.76 times.
Similarly, the Non-Institutional Investors (NIIs) lapped up shares 275.21 times.
Standard Glass Lining IPO – GMP
Hours before the listing, Standard Glass Lining shares were trading at a Rs 50 premium in the grey market. This suggested a potential listing price of Rs 190 per share, a 35.71% jump over the IPO’s upper price band.
Also Read: Stocks To Watch: TCS, Adani Group, Avenue Supermarts, Infosys, Signature Global, Macrotech Developers, Coal India, Indus Towers
Standard Glass Lining IPO – Key details of the issue
Standard Glass Lining IPO, a book-built issue of Rs 410.05 crore and received significant attention from investors.
The price band of this mainboard issue was set between Rs 133 to Rs 140 per share, with the allotment finalised on January 9. Prior to the opening of the issue, the company secured Rs 123.02 crore from anchor investors on January 3.
IIFL Securities and Motilal Oswal Investment Advisors acted as the lead managers, while KFin Technologies Limited served as the registrar for this IPO.
About Standard Glass Lining Technology
The company was founded in 2012 and is headquartered in Hyderabad, Telangana, a hub for pharmaceutical production in India.
Also Read: What’s the outlook for gold this week? Check Gold, silver rate today on January 13 in Mumbai, Delhi, Chennai, Kolkata
Standard Glass Lining specialises in engineering equipment for the pharmaceutical and chemical sectors. The company offers end-to-end solutions, including design, manufacturing, installation, and operations, with a product range featuring Reaction Systems,
» Read More
