Tue Jan 07 19:01:30 UTC 2025: ## Standard Glass Lining IPO Oversubscribed by 17 Times on Day 2

**Mumbai, January 7, 2025** – The Standard Glass Lining (SGL) initial public offering (IPO), which opened on January 6th, continues to attract significant investor interest. By 10:39 AM on the second day of bidding, the IPO was oversubscribed by a remarkable 17.35 times.

Retail investors showed the most enthusiasm, with their portion oversubscribed by 18.98 times. Non-Institutional Investors (NIIs) were even more bullish, exceeding the subscription target by a massive 34.27 times. While Qualified Institutional Buyers (QIBs) showed more restrained interest, their portion was still subscribed 1.81 times.

The IPO price band is set at Rs 133-140 per share, with a minimum investment of Rs 14,980 for retail investors. The grey market premium (GMP) currently stands at Rs 93, suggesting a potential listing price of Rs 233 and a potential gain of approximately 66.43%.

Geojit’s IPO report suggests a “Subscribe” rating for the stock, citing the growing demand for glass-lined equipment, SGL’s healthy margins and consistent revenue growth, and its plans for inorganic growth. The company’s Price-to-Earnings (P/E) ratio of 38.5x (on FY25 Annualised) at the upper price band is considered fairly priced compared to competitors.

SGL successfully raised Rs 123.02 crore through its anchor investor segment before the IPO launch. IIFL Securities Ltd and Motilal Oswal Investment Advisors Limited are the book-running lead managers, with KFin Technologies Limited serving as the registrar. Allotment is expected by January 10th, with the shares listing on the NSE and BSE by January 14th.

**(Disclaimer: This article is for informational purposes only and does not constitute investment advice. Consult a financial advisor before making any investment decisions.)**

Read More