Mon Jan 06 11:19:19 UTC 2025: ## Standard Glass Lining IPO Oversubscribed Within 20 Minutes

**Mumbai, January 6, 2025** – The initial public offering (IPO) of Standard Glass Lining Technology was fully subscribed within just 20 minutes of opening on Monday, January 6th. Preliminary data from the National Stock Exchange (NSE) at 11:00 AM showed the IPO was oversubscribed 2.85 times. Investors bid for 5.94 crore shares, exceeding the 2.08 crore shares offered by the company.

The retail investor portion was oversubscribed 3.97 times, while the non-institutional investor portion saw 3.92 times oversubscription. The IPO, priced between ₹133 and ₹140 per share, is open for bidding until January 8th. The company aims to raise approximately ₹410.05 crore, including a fresh issue of ₹210 crore and the sale of existing shares by promoters. The company plans to use ₹130 crore from the fresh issue to repay debt and ₹30 crore to invest in its wholly-owned subsidiary, S2 Engineering Industries.

The grey market premium (GMP) for Standard Glass Lining Technology shares is reportedly around 70%, trading at a premium of ₹97, indicating a potential listing gain of approximately 69.28%. Share allotment is scheduled for January 9th, 2025, with listing on the BSE and NSE expected on January 13th, 2025.

Geojit Financial Services and SBI Capital Securities have both recommended subscribing to the IPO. Both brokerages cited the company’s reasonable valuation compared to competitors, strong margins, consistent revenue growth, product diversification opportunities, and potential for inorganic growth as reasons for their positive outlook. They recommend the stock for medium to long-term investment.

**Disclaimer:** Investment advice provided by experts/brokerage firms is their own opinion and not that of Moneycontrol. Moneycontrol advises users to consult certified experts before making any investment decisions.

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