Standard Glass Lining IPO oversubscribed within an hour; check GMP, price band & other details – Newz9

Standard Glass Lining Technology IPO: The IPO opened for subscriptions in the present day and was oversubscribed within an hour, pushed by robust participation from retail and non-institutional segments.
The general subscription at present stands at 1.82 instances, with Retail Individual Investors displaying 2.46 instances subscription. Non-Institutional Investors have demonstrated strong curiosity with 2.73 instances subscription.

Standard Glass Lining IPO: Price band, date

Standard Glass Lining IPO is a Rs 1,250 crore difficulty which contains recent fairness of Rs 210 crore and an supply on the market of 1.42 crore shares. The subscription interval extends till January 8.
The firm efficiently secured Rs 123 crore from anchor traders previous to the providing’s graduation.
The recent difficulty proceeds will assist numerous initiatives, together with capital expenditure for equipment acquisition, debt settlement, funding in its wholly owned subsidiary S2 Engineering Industry, strategic investments for inorganic development, and common company necessities.
The firm established a price vary of Rs 133-140 per share, with a minimal subscription lot of 107 shares and extra investments in multiples thereof.

Standard Glass Lining GMP:

The present Gray Market Premium stands at Rs 93, suggesting a 69% premium above the difficulty price.
According to an ET report, market analysts suggest subscription to this IPO, citing robust development prospects with anticipated income will increase of 20-25% within the medium time period by means of geographical enlargement and product diversification.
Based on the higher price band, the corporate’s put up-difficulty valuation displays a FY24 P/E ratio of 47.8x.
SBI Capital Securities acknowledged: “While comparing with its close peers, the issue is fairly valued with a superior margin profile. We recommend subscribing to the issue for a long-term investment horizon.”
The Standard Glass Lining IPO’s share allocation course of will conclude on January 9, while the corporate’s shares are scheduled to start buying and selling on January 13.

About Standard Glass Lining

Standard Glass Lining ranks amongst India’s high 5 specialised engineering tools producers for pharmaceutical and chemical industries, primarily based on FY24 income, that includes complete in-home manufacturing capabilities.
The firm provides finish-to-finish options, encompassing design, engineering, manufacturing, meeting, set up and commissioning companies, alongside establishing operational protocols for pharmaceutical and chemical producers by means of turnkey tasks.
The Glass-Lined Equipment (GLE) sector anticipates strong enlargement on account of numerous components. GLE safeguards contents from water, chemical compounds, alkalis, and corrosion, creating optimum storage situations. The tools demonstrates resistance to contamination and capabilities successfully throughout numerous operational settings.
The firm recorded a 9% 12 months-over-12 months improve in operational income to Rs 544 crore in FY24, while revenue after tax grew by 13% to Rs 60 crore. During the six months ending September 2024, the corporate achieved revenues of Rs 307 crore and income of Rs 36 crore.
The difficulty’s e-book-operating lead managers are IIFL Capital Services and Motilal Oswal Investment Advisors, with KFin Technologies serving because the registrar.