Standard Glass IPO hits markets next week; per share Rs. Sets the price band at 133-140

Standard Glass Lining Technology Ltd. on Wednesday said it has raised its Rs. 410.05 crore for Initial Public Offering (IPO) Rs. 133-140 per equity share which will open for public subscription on January 6. A public issue of Standard Glass Lining Technology is set to become the first mainstream IPO of 2025.

The company reduced the size of its offer for sale component from 1.84 crore shares to around 1.43 crore equity shares.

The three-day initial public offering (IPO) will conclude on January 8 and bidding for anchor investors will open on January 3, the company said in a statement.

At the end of the upper price band, the company raised Rs. 410.05 crore is going to get up to. Investors can bid for a minimum of 107 shares and multiples thereof, it added.

According to the Red Herring Prospectus (RHP), the Telangana-based company’s IPO is priced at Rs. There is a mix of fresh issue of 210 crore equity shares and offer for sale (OFS) of 1.43 crore shares by promoters and other selling shareholders.

S2 Engineering Services, Kandula Ramakrishna, Kandula Krishna Veni, Nageswara Rao Kandula, Standard Holdings, Katragadda Venkata Ramani and Venkata Shiva Prasad Katragadda are among the shareholders selling shares through the OFS route.

From fresh issue Rs. 130 crores of proceeds to be used for repayment of company debt and Rs. 30 crore to invest in a wholly owned subsidiary, S2 Engineering Industry.

By the company Rs. 20 crore of funds will be used for inorganic growth through strategic investments or acquisitions, Rs. 10 crore for purchase of machinery and equipment and a portion will also be used for general corporate purposes.

Standard Glass Lining Technology offers comprehensive solutions that include design, engineering, manufacturing, assembly, installation and commissioning, as well as establishing standard operating procedures on a turnkey basis for pharmaceutical and chemical manufacturers.

The company has the capability to manage the entire manufacturing process in-house.

Some of its pharma clients include Aurobindo Pharma, Cadila Pharmaceutical, Granules India Limited, McLeods Pharmaceuticals, Piramal Pharma and Suven Pharmaceuticals.

IIFL Capital Services Limited (formerly known as IIFL Securities Limited) and Motilal Oswal Investment Advisors Limited are the book running lead managers while Caffeine Technologies is the registrar for the issue.

The shares will be listed on BSE and National Stock Exchange (NSE).