- IPO Size: ₹410.05 crores, comprising fresh issue and offer for sale.
- Price Band: ₹133 to ₹140 per share.
- Minimum Lot Size: 107 shares.
- Retail Investors: Minimum investment of ₹14,980 for retail investors.
- Timeline: IPO opens from January 6, 2025, and closes on January 8, 2025. The shares will list on January 13, 2025.
- Investment Allocation: 50% reserved for QIBs, 35% for retail investors, and 15% for HNIs.
Standard Glass Lining Technology Limited has launched its initial public offering (IPO) to raise ₹410.05 crores. The IPO, set to open on January 6, 2025, and close on January 8, 2025, comprises a fresh issue of 1.50 crore shares (₹210 crores) and an offer for sale of 1.43 crore shares (₹200.05 crores).
The IPO price band is set at ₹133 to ₹140 per share, with a minimum lot size of 107 shares, amounting to ₹14,980 for retail investors. For high-net-worth individuals (HNIs), the minimum investment is ₹2,09,720 (14 lots for sNII) and ₹10,03,660 (67 lots for bNII).
Important Dates:
- Basis of Allotment: January 9, 2025
- Refund Initiation: January 10, 2025
- Shares Credited to Demat Accounts: January 10, 2025
- Listing Date: January 13, 2025
The IPO is managed by IIFL Securities Ltd and Motilal Oswal Investment Advisors Limited, with Kfin Technologies Limited as the registrar.
IPO Details
| Parameter | Details |
|---|---|
| IPO Date | January 6, 2025 to January 8, 2025 |
| Price Band | ₹133 to ₹140 per share |
| Lot Size | 107 shares |
| Issue Size | ₹410.05 Crores (Total Issue Size) |
| Fresh Issue | ₹210.00 Crores (1.5 crore shares) |
| Offer for Sale | ₹200.05 Crores (1.43 crore shares) |
| Face Value | ₹10 per share |
| Listing At | NSE, BSE |
| Pre-Issue Shareholding | 18,44,91,662 shares |
| Post-Issue Shareholding | 19,94,91,662 shares |
IPO Timeline
The tentative schedule for the Standard Glass Lining IPO is as follows:
| Event | Date |
|---|---|
| IPO Opening Date | January 6, 2025 |
| IPO Closing Date | January 8, 2025 |
| Basis of Allotment | January 9, 2025 |
| Refund Initiation | January 10, 2025 |
| Credit of Shares to Demat | January 10, 2025 |
| Listing Date | January 13, 2025 |
| UPI Mandate Confirmation Cut-off | January 8, 2025 (5 PM) |
Investment Options and Lot Size
Investors can place bids for a minimum of 107 shares and can apply for additional lots in multiples of 107 shares. Here’s a detailed breakdown of investment options:
| Investor Category | No. of Lots | Shares | Investment Amount |
|---|---|---|---|
| Retail (Min) | 1 | 107 | ₹14,980 |
| Retail (Max) | 13 | 1,391 | ₹1,94,740 |
| S-HNI (Min) | 14 | 1,498 | ₹2,09,720 |
| S-HNI (Max) | 66 | 7,062 | ₹9,88,680 |
| B-HNI (Min) | 67 | 7,169 | ₹10,03,660 |
IPO Reservation Details
The reservation for this IPO will be distributed as follows:
| Investor Category | Percentage of Total Issue |
|---|---|
| QIB (Qualified Institutional Buyer) | Not more than 50% of the Net Issue |
| Retail Investors | Not less than 35% of the Net Issue |
| NII (Non-Institutional Investors) | Not more than 15% of the Net Issue |
Business Overview
Founded in 2012, Standard Glass Lining Technology Limited specializes in manufacturing engineering equipment for pharmaceutical and chemical industries. The company’s offerings include:
- Reaction Systems
- Storage, Separation, and Drying Systems
- Plant Engineering Services
Its eight manufacturing facilities, located in Hyderabad, Telangana, are equipped with advanced technologies, ensuring end-to-end production capabilities. Additionally, the company has sales offices across major cities like Mumbai, Vadodara, and Visakhapatnam, alongside a pan-India sales team.
Competitive Strengths:
- Expertise in engineering equipment for critical sectors.
- Comprehensive product portfolio catering to the entire manufacturing value chain.
- Strategically located facilities with robust technological infrastructure.
- Strong relationships with marquee clients*, including Aurobindo Pharma, Natco Pharma, and Laurus Labs.
*”Marquee clients” are high-profile, prestigious clients that enhance a company’s reputation and credibility.
Company Financials
Standard Glass Lining has shown strong growth over the past years. Here’s a look at their financial performance:
| Period | Assets (₹ Cr) | Revenue (₹ Cr) | Profit After Tax (₹ Cr) | Net Worth (₹ Cr) | Total Borrowings (₹ Cr) |
|---|---|---|---|---|---|
| 30 Sept 2024 | 756.52 | 312.10 | 36.27 | 447.80 | 173.80 |
| 31 Mar 2024 | 665.38 | 549.68 | 60.01 | 409.92 | 129.32 |
| 31 Mar 2023 | 347.79 | 500.08 | 53.42 | 156.67 | 81.96 |
| 31 Mar 2022 | 298.11 | 241.50 | 25.15 | 69.91 | 69.81 |
Objects of the Issue
The funds raised through this IPO will be utilized for the following purposes:
- General Corporate Purposes: General business requirements.
- Capital Expenditure: To purchase machinery and equipment.
- Repayment of Borrowings: Repayment or prepayment of loans taken by the company and its subsidiary, S2 Engineering Industry Private Limited.
- Investment in Subsidiary: Investment in S2 Engineering for capital expenditure.
- Inorganic Growth: Strategic investments or acquisitions for growth.
Disclaimer: The information provided in this article is for informational purposes only and does not constitute financial advice or an endorsement of any IPO or investment opportunity. While we strive to ensure the accuracy of the details shared, the content is based on publicly available information, research, and reports from credible sources. Readers are advised to verify the details independently and consult with a financial advisor before making any investment decisions.Stay informed and exercise caution while making financial decisions.
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