Standard Glass Lining Technology Makes a Splash on the Market

In an impressive market debut, Standard Glass Lining Technology Ltd's shares soared, closing nearly 17% above the issue price of Rs 140. The stock not only debuted at Rs 176, marking a 25.71% increase on the BSE, but also peaked at Rs 181.70 during the day, showcasing a 29.78% surge. Ending the day at Rs 163.35, the shares reflected a significant jump of 16.67%.

Market Valuation and Trading Volume

The company's market valuation reached an impressive Rs 3,258.70 crore. Trading volumes were robust, with 35.78 lakh shares traded on the BSE and 453.02 lakh shares on the NSE, indicating strong investor interest.

IPO Success and Future Plans

The initial public offering (IPO) of Standard Glass Lining Technology Ltd was a resounding success, with a subscription rate of 182.57 times on the final day of bidding. The Rs 410.05-crore IPO, priced between Rs 133-140 per share, included a fresh issuance of equity shares worth Rs 210 crore and an offer for sale (OFS) of up to 1.43 crore shares. Proceeds are earmarked for debt repayment, investment in a wholly owned subsidiary, strategic acquisitions, machinery purchase, and general corporate purposes.

Comprehensive Solutions for Pharma and Chemical Manufacturers

Standard Glass Lining Technology offers end-to-end solutions for pharmaceutical and chemical manufacturers, including design, engineering, manufacturing, and commissioning. Its esteemed clientele includes Aurobindo Pharma, Cadila Pharmaceutical, and Piramal Pharma, among others.