Standard Glass Lining Technology IPO : The IPO of Standard Glass Lining Technology, a particular engineering gear manufacturing firm, opened on January 6 and can shut on January 8. There was a craze in the grey market today relating to the firm’s IPO. The concern measurement of the firm’s IPO is Rs 410.05 crore. This consists of recent concern of Rs 210 crore price Rs 1.50 crore and supply on the market (OFS) of 1.43 crore shares price Rs 200.05 crore. Whereas the worth band per share was fastened at Rs 133-140. Its minimal lot measurement is 107 shares.
Company’s IPO is getting robust response
As quickly as bidding began today, there have been greater than 13 occasions bids for the IPO. According to the information, buyers positioned bids for 72,58,72,378 fairness shares or 34 occasions extra shares as towards 2,08,29,567 fairness shares. The firm’s IPO obtained enormous bids in all classes. The stake of retail buyers was subscribed 33 occasions, whereas for non-institutional buyers it was 81 occasions. It got 4.6 occasions subscription in QBI class.
This firm was began in 2012
The basis of normal glass lining know-how was laid in the yr 2012. This Hyderabad based mostly firm is a producer of engineering gear in the pharmaceutical and chemical sectors. Its place in the grey market stays robust as there was tremendous bidding for the concern. Last time the worth per share of the firm in the unofficial market was Rs 90-95, on account of which it got 65-67 p.c extra response from buyers at the time of itemizing. Its GMP was round Rs 95-100 on the first day of bidding.
Brokerage corporations are giving optimistic response to the concern of this firm and contemplating its observe file and good monetary efficiency, they’re advising to subscribe to it as a lot as doable.
Disclaimer: (The info offered right here is being given for info solely. It is vital to say right here that funding in the market is topic to market dangers. Always search knowledgeable recommendation earlier than investing cash as an investor. ABPLive.com doesn’t advise anybody It is by no means advisable to take a position cash right here.)
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