Standard Glass Lining Technology Ltd has set the price band for its upcoming initial public offering (IPO) at Rs 133-140 per equity share, with the IPO opening for public subscription on January 6. This IPO marks the company’s entry as the first mainboard IPO of 2025, making it a highly anticipated event in the financial market.
The company has adjusted the offer for sale component to nearly 1.43 crore equity shares, down from the initially planned 1.84 crore shares. The three-day IPO will conclude on January 8, with bidding for anchor investors set to open on January 3. At the upper price band, the company stands to raise up to Rs 410.05 crore from the IPO, offering a minimum bid of 107 shares and in multiples thereafter.
Details of the IPO
The IPO comprises a combination of fresh issuance of equity shares worth Rs 210 crore and an offer for sale (OFS) of up to 1.43 crore shares by promoters and other selling shareholders. The proceeds from the fresh issue will be allocated towards debt payment, investment in a wholly-owned subsidiary, inorganic growth through strategic investments or acquisitions, purchase of machinery and equipment, and general corporate purposes.
Company Overview
Standard Glass Lining Technology offers comprehensive solutions encompassing design, engineering, manufacturing, assembly, installation, and commissioning for pharmaceutical and chemical manufacturers on a turnkey basis. With the capability to manage the entire production process in-house, the company serves prominent pharma clients such as Aurobindo Pharma, Cadila Pharmaceutical, Granules India Ltd, Macleods Pharmaceuticals, Piramal Pharma, and Suven Pharmaceuticals.
Key Players
IIFL Capital Services Ltd and Motilal Oswal Investment Advisors Ltd are the book running lead managers for the IPO, with KFin Technologies serving as the registrar for the issue. The shares will be listed on the BSE and the National Stock Exchange (NSE), providing investors with an opportunity to participate in the growth of Standard Glass Lining Technology.
As we eagerly await the launch of this IPO, it’s essential to consider the potential impact of this offering on the company’s growth trajectory and the broader market landscape. Stay tuned for updates on this exciting development in the financial sector!
