Tue Jan 07 17:46:10 UTC 2025: ## Standard Glass Lining IPO Oversubscribed, Strong Market Debut Expected

**Mumbai, January 8, 2024** – The Initial Public Offering (IPO) of Standard Glass Lining Technology, a leading manufacturer of specialized engineering equipment for the pharmaceutical and chemical sectors, has been massively oversubscribed, closing with a total subscription of 35.48 times. The IPO, which opened on January 6th and closed on January 8th, aimed to raise Rs 410 crore through a fresh issue and an offer for sale.

Retail investors showed particularly strong interest, subscribing 15.08 times their allotted portion. Non-institutional investors (NIIs) also demonstrated significant enthusiasm, with a subscription rate of 26.21 times. While Qualified Institutional Buyers (QIBs) subscribed at a more modest 1.8 times, the overall response exceeded expectations.

The company, which holds a significant market share in various segments within its industry, including a 16.7% share in glass-lined equipment, is valued at a P/E of 38.5x at the upper price band of Rs 140. Several brokerage firms, including Geojit Financials, Anand Rathi Research, and Bajaj Broking, have issued positive assessments of the IPO, citing its fair valuation and strong growth potential driven by increasing demand for glass-lined equipment. Anand Rathi Research even recommended a “Subscribe-Long term” rating.

Standard Glass Lining’s impressive financial performance in recent years, with revenue doubling from Rs 240 crore in FY22 to Rs 544 crore in FY24, further bolstered investor confidence. The grey market, an unofficial indicator, currently suggests a potential listing price around Rs 232, representing a premium of approximately 66%.

Share allotment is expected on January 9th, with listing anticipated on January 13th. IIFL Securities and Motilal Oswal Investment Advisors acted as book-running lead managers, while Kfin Technologies served as registrar.

**(Note: The information about the OnePlus phone launch is unrelated and has been omitted from this news article.)**

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