Mon Jan 06 11:19:20 UTC 2025: ## Standard Glass Lining IPO Opens, Aims to Raise ₹410 Crore

**Mumbai, India –** Standard Glass Lining Technology Pvt. Ltd. (SGLT) launched its initial public offering (IPO) today, aiming to raise ₹410.05 crore. The IPO comprises a fresh issue of ₹210 crore and an offer-for-sale (OFS) of ₹200.05 crore. The price band is set at ₹133-₹140 per share.

IIFL Securities and Motilal Oswal Investment Advisors are the book-running lead managers, with KFin Technologies serving as the registrar. The allotment is expected on January 9th, with a potential listing date of January 13th.

Ahead of the IPO launch, SGLT secured ₹123 crore from anchor investors at ₹140 per share. The grey market premium (GMP) was reportedly ₹97 on Monday morning, suggesting a potential listing price of ₹237 (a 69.29% premium over the upper price band). *Note: GMP is unofficial and based on speculation.*

The company, a top-5 specialized engineering equipment manufacturer for the pharmaceutical and chemical sectors, reported revenue of ₹544 crore in FY24, a significant increase from ₹497 crore in FY23 and ₹240 crore in FY22. Profits have also shown strong growth. The funds raised will be used for capital expenditure, debt repayment, investment in a subsidiary (S2 Engineering), and strategic acquisitions. SGLT boasts in-house capabilities across the entire value chain, from design and engineering to installation and commissioning.

The IPO closes on January 8th.

Read More