Standard Glass Lining Technology IPO: A Phenomenal Start

The IPO of Standard Glass Lining Technology made a remarkable entry into the market, witnessing oversubscription within the first hour of its opening. The enthusiasm was notably high among Retail Individual Investors and Non-Institutional Investors, with subscriptions reaching 2.46 times and 2.73 times respectively.

Price Band and Subscription Details

With a total issue size of Rs 1,250 crore, including fresh equity of Rs 210 crore and an offer for sale of 1.42 crore shares, the IPO's subscription period is set until January 8. The company has set a price range of Rs 133-140 per share, aiming for a minimum subscription lot of 107 shares.

Grey Market Premium and Future Prospects

The Grey Market Premium (GMP) currently stands at Rs 93, indicating a 69% premium above the issue price. Analysts are optimistic about the IPO, forecasting a 20-25% revenue increase in the medium term through geographical expansion and product diversification.

About Standard Glass Lining

Ranked among India's top five specialized engineering equipment producers, Standard Glass Lining boasts comprehensive in-house production capabilities. The company has shown consistent growth, with a 9% increase in operational revenue to Rs 544 crore in FY24 and a 13% rise in profit after tax to Rs 60 crore.

Conclusion

The Standard Glass Lining IPO represents a significant opportunity for investors, backed by strong growth prospects and a robust market position. With the share allocation process concluding on January 9 and trading commencing on January 13, the market eagerly anticipates the company's next steps.