Standard Glass fixes price band of Rs 133 to Rs 140 for maiden IPO that opens on January 6 – Newz9

HYDERABAD: Standard Glass Lining Technology Limiteda Hyderabad-based specialised engineering tools producer for pharma and chemical substances sector, has mounted a price band of Rs 133 to Rs 140 per fairness share of face worth ₹10 every for its maiden preliminary public provide (IPO) that opens on 6, 2025. , and closes for subscription on Jan 8, 2025.
The IPO is a mixture of recent problem of shares of up to Rs 210 crore and a proposal for sale (OFS) of up to 1,42,89,367 fairness shares aggregating to Rs 200 crore by the promoter promoting and promoter group and different promoting shareholders. .
The provide is being made via the ebook-constructing course of with upto 50% of the provide to be obtainable for allocation on a proportionate foundation to certified institutional patrons, round 15% for allocation to non-institutional traders round 35% for allocation to retail particular person bidders.
The firm plans to use Rs 130 crore from the proceeds of the IPO for reimbursement or prepayment of sure borrowings within the firm and its wholly owned materials subsidiary S2 Engineering Industry Pvt Ltd. It additionally plans to use Rs 30 crore for funding in S2 Engineering for funding its capital necessities in the direction of the acquisition of equipment and tools and Rs 20 crore in the direction of funding inorganic development via strategic investments or acquisition and basic company functions, and Rs 10 crore for funding the corporate’s capital expenditure necessities in the direction of buy of plant and equipment.
Standard Glass is one of India’s high three producers of glass-lined, chrome steel, and nickel alloy-based mostly specialised engineering tools in phrases of income in FY24 and can be one of the highest three suppliers of polytetrafluoroethylene (“PTFE”) lined pipelines and fittings in India in phrases of FY24 income.
IIFL Capital Services Limited, and Motilal Oswal Investment Advisors Limited are the ebook-operating lead managers, and KFin Technologies Limited is the registrar of the problem.
The firm offers designing, engineering, manufacturing, meeting, set up, and commissioning options and establishes customary working procedures for pharmaceutical and chemical producers on a turnkey foundation.