Standard Glass Lining IPO to open on January 6: Check price band, issue size, and other details

Standard Glass Lining IPO: The initial public offer (IPO) of Standard Glass Lining, a specialised engineering equipment manufacturer, will open for subscription on Monday, January 6 and close on Wednesday, January 8.

Standard Glass Lining IPO price band has been fixed at ₹133 to ₹140 per equity share of a face value of ₹10 each.

The public offer consists of a fresh share sale of ₹210 crore and an offer for sale (OFS) of 14,289,367 shares, amounting to ₹200 crore at the upper price band. Thus, the total offer size stands at ₹410 crore.

Standard Glass Lining IPO Objective

Out of the fresh funds raised, the company plans to use ₹10 crore for funding the purchase of machinery and equipment. At the same time, it looks to allocate ₹130 crore for paying certain borrowings availed by the company and its subsidiaries.

Additionally, it plans to use ₹30 crore to invest in wholly-owned subsidiary S2 Engineering to fund capex requirements for purchasing machinery and equipment, ₹20 crore to fund inorganic growth through strategic investments, and the remaining for general corporate purposes.

Standard Glass Lining IPO Lot Size

Retail investors can apply for the IPO in a lot of 107 shares and their multiples thereof.

In the IPO, 50% of the offer is reserved for qualified institutional buyers, 35% for retail investors and 15% for non-institutional investors.

The bidding for anchor investors will open on Friday, January 3.

About Standard Glass Lining

Standard Glass Lining is one of the top five specialised engineering equipment manufacturers for the pharmaceutical and chemical sectors in India, in terms of revenue. The company designs, engineers, manufactures, assembles, installs and commissions solutions as well as establishes standard operating procedures for pharmaceutical and chemical manufacturers on a turnkey basis.

The company is also one of the top three manufacturers of glass-lined, stainless steel and nickel alloy-based specialised engineering equipment in terms of revenue. It has been the fastest-growing company in the industry during the past three completed fiscals in terms of revenue, according to a F&S Report.

The company caters to 30 out of the 80 pharma and chemical companies in the NSE 500 index. Some of its customers include Aurobindo Pharma, Laurus Labs. Granules India, Natco Pharma, Piramal Pharma, Suven Pharma and Tagros Chemicals.

The book-running lead managers for the issue are IIFL Capital Services and Motilal Oswal Investment Advisors, while KFin Technologies is the registrar for the offer.

The company's shares will list on both NSE and BSE.