Standard Glass Lining IPO : Engineering equipment maker Standard Glass Lining Technology is gearing up for its Initial Public Offering (IPO). Which is going to open for public subscription on Monday 6 January 2025. Standard Glass Lining Technology's IPO will be the first public issue of 2025, which will be listed on BSE and National Stock Exchange. According to the company's Red Herring Prospectus (RHP), bidding for anchor investors will start from Friday, January 3, 2025 and before that. Meanwhile, sources monitoring gray market activities said that on Wednesday, January 1, 2025, the company's unlisted shares traded flat. Thus, as of January 1, the gray market premium (GMP) of Standard Glass Lining remained zero.

Standard Glass Lining IPO: Standard Glass Lining IPO Details

At the upper end, Standard Glass Lining is looking to raise Rs 410.05 crore by offering a fresh issue of 15 million equity shares and an offer for sale (OFS) with promoters and other shareholders, wherein 1.43 million equity shares with a face value of Rs 10 each will be sold. Standard Glass Lining Technology Ltd has fixed a price band of Rs 133-140 per share for its Rs 410.05 crore initial public offering (IPO). Standard Glass Lining Technology has reduced the size of its offer for sale to about 1.43 crore equity shares from 1.84 crore shares planned earlier. The three-day IPO will close on January 8, the company said in a statement. Large (anchor) investors will be able to bid for shares on January 3. At the higher price level, the company is expecting to raise Rs 410.05 crore from the IPO.

Standard Glass Lining IPO: Standard Glass Lining Share Price Band

Standard Glass Lining has fixed a price band of Rs 133-140 per share with a lot size of 107 shares. Accordingly, investors can bid for a minimum of 107 shares and in multiples thereof. To bid for one lot of 107 shares of Standard Glass Lining IPO, a retail investor will need a minimum of Rs 14,980. Apart from this, to bid for a maximum of 13 lots of 1391 shares, a retail investor will need Rs 1,94,740.

Standard Glass Lining IPO: Important Dates of Standard Glass Lining IPO

The subscription window for Standard Glass Lining IPO will open on Friday 22 November 2024 and close on Tuesday 26 November 2024. The basis of allotment will likely be finalized on Wednesday 27 November 2024 and shares will be credited to demat accounts on Thursday 28 November 2024. Standard Glass Lining shares are likely to be listed on NSE and BSE on Friday 29 November 2024.

Standard Glass Lining IPO: Objective of Standard Glass Lining IPO

Standard Glass Lining will not receive any proceeds from the offer for sale. Standard Glass Lining said in its RHP that each of the selling shareholders will receive their respective share of the proceeds of the offer for sale, less their proportion of expenses related to the offer and relevant taxes thereon. Further, Standard Glass Lining intends to use the proceeds from the fresh issue to meet capital expenditure requirements for purchase of machinery and equipment and to repay or prepay in full or in part all or part of certain outstanding borrowings availed by the company.

Additionally, it aims to make investments in its wholly-owned material subsidiary S2 Engineering Industries to finance full or partial repayment or prepayment of all or part of certain outstanding borrowings availed by S2 Engineering Industries from banks and financial institutions.