Standard Glass IPO to hit markets next week; sets price band at Rs 133-140 per share – Newz9

NEW DELHI: Standard Glass Lining Technology Ltd on Wednesday stated it has mounted a price band at Rs 133-140 per fairness share for its Rs 410.05 crore preliminary public providing (IPO) that opens for public subscription on January 6. The public difficulty of Standard Glass Lining Technology is about to grow to be the primary mainboard IPO of 2025.
The firm has lowered the scale of its supply on the market part to almost 1.43 crore. fairness shares from 1.84 crore shares as deliberate earlier.
The three-day preliminary public providing (IPO) will conclude on January 8 and the bidding for anchor buyers will open on January 3, the corporate stated in a press release.
At the tip of the higher price band, the corporate goes to fetch up to Rs 410.05 crore from the IPO. Investors can bid for no less than 107 shares and in multiples thereof, it added.
The Telangana-based firm’s IPO is a mix of contemporary issuance of fairness shares value Rs 210 crore and a proposal on the market (OFS) of up to 1.43 crore shares by promoters and different promoting shareholders, in accordance to the crimson herring prospectus (RHP).
S2 Engineering Services, Kandula Ramakrishna, Kandula Krishna Veni, Nageswara Rao Kandula, Standard Holdings, Katragadda Venkata Ramani, and Venkata Siva Prasad Katragadda are amongst shareholders promoting shares via the OFS route.
Proceeds from the contemporary difficulty to the extent of Rs 130 crore might be utilized by the corporate for cost of a debt and Rs 30 crore for funding in an entirely-owned subsidiary, S2 Engineering Industry.
Funds value Rs 20 crore can even be utilized by the corporate in direction of inorganic progress via strategic investments or acquisitions, Rs 10 crore for buy of equipment and tools and a portion can even be used for common company objective.
Standard Glass Lining Technology provides complete options that embody design, engineering, manufacturing, meeting, set up, and commissioning, in addition to establishing normal working procedures for pharmaceutical and chemical producers on a turnkey foundation.
The firm has the potential to handle your complete manufacturing course of in-home.
Some of its pharma shoppers embody the likes of Aurobindo Pharma, Cadila Pharmaceutical, Granules India Ltd, Macleods Pharmaceuticals, Piramal Pharma, and Suven Pharmaceuticals.
IIFL Capital Services Ltd (Formerly referred to as IIFL Securities Ltd) and Motilal Oswal Investment Advisors Ltd are the e-book working lead managers whereas KFin Technologies is the registrar for the problem.
The shares might be listed on the BSE and the National Stock Exchange (NSE).