Thu Jan 09 06:20:00 UTC 2025: **Standard Glass Lining Technology IPO Oversubscribed by 182 Times**

**Mumbai, January 8, 2025** – The initial public offering (IPO) of Standard Glass Lining Technology Ltd. (SGLTL), a leading manufacturer of specialized engineering equipment for the pharmaceutical and chemical sectors, closed today after being massively oversubscribed. The ₹410.05 crore IPO, which comprised a fresh issue of ₹210 crore and an offer-for-sale (OFS) of ₹200 crore by promoters and other stakeholders, received bids exceeding the offer size by a staggering 182.57 times.

The IPO, priced between ₹133 and ₹140 per share, saw strong demand across all investor categories. Qualified Institutional Buyers (QIBs) subscribed 331.60 times, Non-Institutional Investors (NIIs) 267.99 times, and Retail Investors 63.99 times. The grey market premium (GMP) stood at ₹91 per share at closing, indicating a potential listing price of around ₹231, a 65% premium over the upper price band.

SGLTL’s strong financials contributed to the IPO’s success. The company reported significant revenue growth (from ₹240.2 crore in FY22 to ₹543.7 crore in FY24, a 50.5% CAGR) and profit after tax (PAT) growth (from ₹25.1 crore to ₹60 crore, a 55% CAGR). It also boasts healthy margins and a robust order book valued at ₹450 crore. The company’s expansion plans, including capacity increases and ventures into new sectors like oil and gas, further fueled investor interest.

Proceeds from the fresh issue will be used for capital expenditure, debt repayment, investment in a subsidiary, funding inorganic growth, and general corporate purposes. The allotment is expected on January 9th, with listing on the BSE and NSE anticipated for January 13th. IIFL Securities Ltd and Motilal Oswal Investment Advisors acted as book running lead managers for the IPO.

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