Hyderabad-based Standard Glass Lining Technology Limited Receives Major Investment

Specialized engineering equipment manufacturer, Standard Glass Lining Technology Limited, has recently secured Rs 40 crore in pre-IPO funding through a private placement from Amansa Investments Limited. This significant investment marks a crucial step for the company as it prepares for its initial public offering (IPO).

The Hyderabad-based company issued 28,57,142 equity shares to Amansa Investments at a price of Rs 140 per share, including a premium of Rs 130 per share. This transaction represents 1.55% of its pre-offer share capital. The company had filed the draft red herring prospectus (DRHP) for its IPO with capital markets regulator Sebi in July 2024.

The proposed IPO includes a fresh issue of shares up to Rs 250 crore and an offer for sale (OFS) of around 1.84 crore shares by promoters and other selling shareholders. Standard Glass Lining Technology Limited received Sebi’s final observation for the IPO in October 2024. The company operates eight manufacturing facilities covering over 4 lakh sq ft footprint in Telangana, offering comprehensive services to pharmaceutical and chemical manufacturers on a turnkey basis.

This strategic investment not only bolsters the company's financial position but also highlights its potential for growth and market expansion. Standard Glass Lining Technology Limited caters to major players in the pharmaceutical and chemical industries, including Aurobindo Pharma Limited, Cadila Pharmaceutical Limited, and Natco Pharma Limited, among others.