Standard Glass Lining IPO: The initial public offering (IPO) of Standard Glass Lining Technology Limited hit the Indian primary market on Monday. The public issue will remain open until 5:00 PM on 8 January 2025. The pharma engineering equipment maker company has declared Standard Glass Lining IPO price band at ₹133 to ₹140 per equity share. Standard Glass Lining IPO received a rave response from anchor investors as the issue generated ₹123.02 crore ahead of the Standard Glass Lining IPO subscription opening. The company aims to raise ₹410.05 crore from this public issue, a mix of fresh shares and offers for sale (OFS).
Meanwhile, after strong Standard Glass Lining IPO subscription status, the grey market is dropping strong positive sentiments regarding Standard Glass Lining IPO. According to stock market observers, shares of the company are available at a premium of ₹98 in the grey market today.
By 3:03 PM on day 2 of bidding, the book build issue had been subscribed 30.01 times; the retail portion had been booked 29.51 times, and the NII portion had been filled 63.84 times. The QIB portion had been subscribed 4.55 times.
1] Standard Glass Lining IPO GMP: According to stock market observers, shares of the company are available at a premium of ₹98 in the grey market today.
2] Standard Glass Lining IPO price: The company has declared issue price of ₹133 to ₹140 per equity share.
3] Standard Glass Lining IPO subscription date: The book build issue opened on Monday and will remain open until 8 January 2025.
4] Standard Glass Lining IPO size: The company aims to raise ₹410.05 crore from the book build issue, out of which ₹210 crore is aimed via fresh shares. The remaining ₹200.05 crore is reserved for the OFS route.
5] Standard Glass Lining IPO lot size: A bidder can apply in lots, and one lot of the public issue comprises 107 company shares.
6] Standard Glass Lining IPO allotment date: The most likely date for share allocation is Thursday this week, 9 January 2025.
7] Standard Glass Lining IPO registrar: Kfin Technologies has been appointed official registrar of the book build issue.
8] Standard Glass Lining IPO Lead Managers: IIFL Securities and Motilal Oswal Investment Advisors have appointed the public issue lead managers.
9] Standard Glass Lining IPO listing date: The share listing date is most likely Monday, January 13, 2024.
10] Standard Glass Lining IPO: Good or bad for investors?
Giving a 'subscribe' tag to the book build issue, Prathamesh Masdekar, Research Analyst at Stoxbox, said, "As of September 2024, the company's comprehensive product portfolio consists of 65+ products & offerings across the pharma and chemical industries and is also developing 15 more products. The company can also manufacture 300-350 pieces of equipment per month across the product portfolio. The company is further looking to expand capacity and is venturing into the 150 MM thickness segment, providing a gateway to sectors like Oil & Gas, Edible oil, Heavy engineering, etc. The company intends to continue strengthening its existing product portfolio in line with its capabilities and further diversify into products with increased growth and profitability prospects. The company is targeting 20% of revenue from exports by 2026 v/s present 0.5% contribution. We believe the issue is fairly valued and has a superior margin profile compared to its peers. Therefore, we recommend a SUBSCRIBE rating for the issue."
Canara Bank Securities has also assigned a 'subscribe' tag to the book build issue: "The company is currently valued at a price-to-earnings (P/E) ratio of 39.77x, which is favourable compared to the industry average of 52.50x. SGL exhibits a strong return on equity (RoE) of 20.74%, surpassing the sector's average of 16.96%. Anticipated capacity expansion and export-driven growth are projected to bolster the company's financial ratios further."
In addition, SBI Capital Securities and INDSEC Securities have assigned a 'subscribe' tag to the public issue.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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