Thu Jan 09 06:24:13 UTC 2025: **Standard Glass Lining IPO Overwhelmingly Subscribed, Shares to Debut Monday**

**Mumbai, January 9, 2025** – Standard Glass Lining Technology Ltd.’s initial public offering (IPO) closed with a resounding success, significantly exceeding expectations. The ₹410.05 crore IPO, which offered 2,08,29,567 equity shares, received bids for a staggering 3,81,56,56,808 shares.

The strong demand was particularly evident among qualified institutional buyers (QIBs), whose portion was subscribed a remarkable 331.60 times. Non-institutional investors also showed significant interest, with their portion oversubscribed by 268.50 times. Even the retail investor portion was oversubscribed by 64.99 times.

The IPO comprised ₹210 crore in new equity shares and an offer for sale of up to 1.43 crore shares, priced between ₹133 and ₹140 per share. A significant portion of the proceeds will be used for debt repayment (₹130 crore), organic growth (₹20 crore), machinery purchases (₹10 crore), investment in a subsidiary (₹30 crore), and general corporate purposes.

Standard Glass Lining Technology, a provider of comprehensive solutions for chemical and pharmaceutical manufacturers, counts major companies like Cadila Pharmaceutical and Aurobindo Pharma among its clients.

Share allotment is expected to be finalized today, January 9th, and can be checked on the websites of Kfin Technologies Limited, NSE, and BSE. Shares of Standard Glass Lining will begin trading on the BSE and NSE on Monday, January 13th, at 10 am. Motilal Oswal Investment Advisors Ltd and IIFL Capital Services Ltd acted as the book-running lead managers for the IPO.

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