Tue Jan 07 15:16:02 UTC 2025: ## Standard Glass Lining IPO Oversubscribed on Day One

**Mumbai, January 6, 2025** – Standard Glass Lining Technology Limited (SGLTL) saw its ₹410.05 crore initial public offering (IPO) oversubscribed by 7.56 times on its first day of trading. The IPO, which opened today, comprises a fresh issue of 15 million shares and an offer for sale (OFS) of 14.29 million shares, with a price band of ₹140 per share.

The subscription period closes on Wednesday, January 8th, with allotment expected on January 9th and shares credited to demat accounts on January 10th. Listing on the NSE and BSE is scheduled for Monday, January 13th.

Retail investors have shown strong interest, with the retail portion already oversubscribed 9.66 times by 1:33 PM today. The Non-Institutional Investor (NII) portion was oversubscribed 12.34 times, while the Qualified Institutional Buyer (QIB) portion saw a lower subscription rate of 0.01 times.

SGLTL, a leading Indian manufacturer of specialized engineering equipment for the pharmaceutical and chemical sectors, aims to utilize the proceeds from the fresh issue for capital expenditure, strategic acquisitions, and general corporate purposes, including investment in its subsidiary, S2 Engineering Industry Pvt Ltd. The company raised ₹123 crore from anchor investors prior to the IPO.

Several brokerage firms, including Geojit, Anand Rathi, and Arihant Capital, have issued “Subscribe” ratings, citing the company’s strong growth potential, healthy margins, and diverse product portfolio. The Grey Market Premium (GMP) currently stands at ₹97, suggesting a potential listing price of ₹237 and a significant return for investors. KFin Technologies is the registrar, and IIFL Securities and Motilal Oswal Investment Advisors are the book-running lead managers.

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