The Standard Glass IPO, which opened on January 6, 2025, has garnered significant attention from investors and market analysts alike. Standard Glass Lining Technology Ltd., a prominent player in the specialized engineering sector, has launched its Initial Public Offering (IPO) to fuel its expansion and innovation strategies.
Standard Glass IPO Details and Structure
The IPO aims to raise ₹410.05 crore, comprising a fresh issue of equity shares worth ₹210 crore and an offer for sale (OFS) of up to 1.42 crore shares by existing shareholders. The price band is set between ₹133 and ₹140 per share, with a minimum bid lot of 107 shares. This structure allows retail investors to participate with a minimum investment of approximately ₹14,904.
Investor Response and Subscription Status
The IPO received an overwhelming response, being fully subscribed within hours of opening. By the end of the first day, the issue was oversubscribed by 13.32 times, indicating robust demand across investor categories. Non-Institutional Investors (NIIs) led the charge with a 25.42 times subscription, followed by Retail Individual Investors (RIIs) at 14.46 times, and Qualified Institutional Buyers (QIBs) at 1.82 times.
Anchor Investors and Fund Allocation
Before the public offering, Standard Glass Lining secured ₹123 crore from anchor investors, including prominent names like ICICI Prudential Mutual Fund, Kotak Mutual Fund, Tata Mutual Fund, and the Massachusetts Institute of Technology. This strategic move underscores institutional investors’ confidence in the company’s growth prospects.
Utilization of Standard Glass IPO Proceeds
The funds raised through the fresh issue are earmarked for several strategic initiatives:
- Capital Expenditure: Investment in new machinery and technology to enhance production capabilities.
- Debt Repayment: Reduction of existing debt to strengthen the balance sheet.
- Subsidiary Investment: Infusion of capital into its wholly-owned subsidiary, S2 Engineering Industry, to support its growth.
- Strategic Acquisitions: Pursuit of inorganic growth opportunities through acquisitions.
- General Corporate Purposes: Allocation for day-to-day operational expenses and contingencies.
Standard Glass IPO Grey Market Premium (GMP)
The Grey Market Premium (GMP) for Standard Glass Lining’s shares has recently been around ₹90, suggesting a potential listing price of approximately ₹230 per share. This indicates a 64.3% premium over the upper end of the issue price band, reflecting strong market sentiment and investor optimism.
Standard Glass IPO Review and Analysis
Standard Glass Lining Technology Ltd. is among the top five specialized engineering companies in India, renowned for its high-quality glass-lined equipment used in various industries, including pharmaceuticals, chemicals, and petrochemicals. The company’s commitment to innovation and quality has positioned it favorably in domestic and international markets.
Analysts are bullish on the company’s long-term potential, citing its strong order book, diversified client base, and strategic expansion plans. The infusion of IPO funds is expected to bolster its market position further and drive sustainable growth.
Standard Glass IPO Listing Date and Price
- Issue Closing Date: January 8, 2025
- Basis of Allotment Finalization: January 9, 2025
- Initiation of Refunds: January 10, 2025
- Credit of Shares to Demat Accounts: January 10, 2025
- Listing Date on BSE and NSE: January 13, 2025
Standard Glass Lining IPO subscription
As of January 8, 2025, the Standard Glass Lining Technology IPO has received an overwhelming response, with the issue being oversubscribed by 73.95 times.
The subscription breakdown across various investor categories is as follows:
- Qualified Institutional Buyers (QIBs): Subscribed 39.53 times
- Non-Institutional Investors (NIIs): Subscribed 175.8 times
- Retail Individual Investors (RIIs): Subscribed 49.23 times
Standard Glass IPO Allotment Date and How to Check Allotment Status
- Allotment Date:
The allotment date for the Standard Glass IPO is expected to be finalized on January 9, 2025. - Steps to Check Allotment Status:
You can check the IPO allotment status through the following methods:- Registrar’s Website (Kfin Technologies):
- Visit the registrar’s official website: Kfin Technologies IPO Allotment Status.
- Navigate to the IPO Allotment section.
- Select “Standard Glass IPO” from the dropdown menu.
- Enter the required details:
- PAN number
- Application number
- DP Client ID (if applicable)
- Click on Submit to view your allotment status.
- BSE Website:
- Visit the BSE website: BSE IPO Allotment Status.
- Select Equity under the issue type.
- Choose “Standard Glass IPO” from the dropdown menu.
- Enter your Application Number and PAN Number.
- Click on Search to view your allotment status.
- Registrar’s Website (Kfin Technologies):
- Important Dates:
- Demat Credit Date: Shares will be credited to successful applicants’ Demat accounts by January 11, 2025.
- Listing Date: The IPO is expected to be listed on the stock exchanges on January 13, 2025.
By following these steps, you can easily check if you have received the allotment of shares for the Standard Glass IPO.
Conclusion
Standard Glass IPO has captured the market’s attention with its strong subscription numbers and positive grey market indicators. The company’s strategic utilization of funds and solid industry standing suggest promising growth prospects. Investors should, however, conduct thorough due diligence and consider their financial goals before making investment decisions.
For more insights on investing and wealth management strategies, visit Minty Wealth, a trusted resource for financial planning. Additionally, explore tools like the MultiCalculator, offering a range of calculators, including EMI, SIP, and IPO calculators, to simplify your financial decisions and analysis.
Disclaimer
The information provided in this blog, “Standard Glass IPO,” is for educational purposes only and does not constitute financial advice. Always consult a financial expert before making investment decisions. For more financial tips, personal finance advice, and wealth management strategies, visit MintyWealth.