Standard Glass Lining Technology Ltd. was incorporated on September 6, 2012. The company is a specialized engineering equipment manufacturer for the pharmaceutical and chemical sectors, offering in-house capabilities across the value chain, including design, manufacturing, installation, and turnkey solutions
| Bidding Dates |
|---|
| 06 Jan 2025 - 08 Jan 2025 |
| Subscription |
|---|
| 183.18x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,231 | 1 | 13 | 107 | 29.3 M | ₹133 - ₹140 | 60.68 % | ₹3895.5 M - ₹4100.5 M | RHP DOC |
Standard Glass Lining IPO SUBSCRIPTION STATUS
08 Jan '25Standard Glass Lining IPO overall subscription rate was 183.18 times the total available shares
Standard Glass Lining IPO retail subscription rate was 64.99 times in the retail segment
Standard Glass Lining IPO non-institutional investor subscription rate was 268.5 times in the non-institutional investor category
Standard Glass Lining IPO Qualified Institutional Bidder subscription rate was 331.6 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
08 Jan 2025 (Day 3) | 64.99x | 268.5x | 331.6x |
07 Jan 2025 (Day 2) | 32.87x | 78.17x | 4.69x |
06 Jan 2025 (Day 1) | 14.46x | 25.43x | 1.82x |
Standard Glass Lining FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| H1FY25 | 362.7 | 3,072.0 | -193.4 | -376.7 | 20.1% |
| FY24 | 600.1 | 5,436.7 | -650.3 | -981.3 | 18.4% |
| FY23 | 534.2 | 4,975.9 | 17.5 | -274.7 | 17.7% |
| FY22 | 251.5 | 2,401.9 | -71.5 | -122.8 | 17.3% |
Standard Glass Lining IPO SUBSCRIPTION STATUS DETAILS
Standard Glass Lining had 29.3 M shares on offer
Standard Glass Lining IPO offer price was in the range ₹133 - ₹140
Standard Glass Lining IPO minimum Investment was ₹14231
Standard Glass Lining IPO issue size was ₹ 3895.5 M - ₹ 4100.5 M
Standard Glass Lining had a minimum lot size of 107 Shares per application
Standard Glass Lining NUMBER OF SHARES ON OFFER
Standard Glass Lining IPO IMPORTANT DATES
| Issue Open Date | 06 Jan 2025 |
| Issue close Date | 08 Jan 2025 |
| Allotment Date | 09 Jan 2025 |
| Refund Date | 10 Jan 2025 |
| Demat Account Credit Date | 10 Jan 2025 |
| Listing Date | 13 Jan 2025 |
| Listing on Exchange(s) | NSE and BSE |
| Standard Glass Lining Allotment Status | Exchange |
Standard Glass Lining IPO subscription opened on 06 Jan 2025, and closed on 08 Jan 2025
IPO allotment for Standard Glass Lining was finalized on Thursday, 09 Jan 2025
IPO listing for Standard Glass Lining was on NSE and BSE on Monday, 13 Jan 2025
Standard Glass Lining IPO LISTING GAINS
| Issue Price (adjusted) | 140.0 |
| Listing Open Price | 172.0 |
| Listing Close Price | 163.3 |
| Listing Gain% | 22.9% |
| Current Gain% | 102.2% |
Standard Glass Lining Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Standard Engineering Technology Ltd. | 283.1 | 5647.6 | 66 | 3.1 | 6.7 | 10.1 | 6.4 | 793.1 | 26.7 | 80 | 24.4 | 4.3 | 21.4 |
| Solar Industries India Ltd. | 18712 | 169325.1 | 100.9 | 2.6 | 17.2 | 26.7 | 15.4 | 9965.7 | 30.9 | 1677.6 | 38.7 | 185.4 | 38.7 |
| PTC Industries Ltd. | 19373 | 29045 | 286 | 4.3 | 48.2 | 6.7 | 5.2 | 643.3 | 88 | 101.6 | 66.4 | 67.7 | 66.4 |
| Inox India Ltd. | 1969 | 17871.3 | 70.1 | 8.1 | 11 | 23.1 | 12.8 | 1632.3 | 21.2 | 257.9 | 14.1 | 28.1 | 8.7 |
| Precision Wires India Ltd. | 429.8 | 7858 | 50.6 | 0.7 | 1.4 | 20.1 | 6.9 | 5463.4 | 35.4 | 155.3 | 72.4 | 8.5 | 72.4 |
| Kennametal India Ltd. | 3298.9 | 7250.4 | 52.3 | 1.5 | 5.3 | 13.8 | 10.6 | 1184.7 | 6.6 | 102.9 | -6.9 | 63 | 35.9 |
Standard Glass Lining INFORMATION ON IPO ISSUE
About Standard Glass Lining
Standard Glass Lining Technology Ltd. was incorporated on September 6, 2012. The company is a specialized engineering equipment manufacturer for the pharmaceutical and chemical sectors, offering in-house capabilities across the value chain, including design, manufacturing, installation, and turnkey solutions
Object of the Issue
- Funding of capital expenditure requirements of the company towards the purchase of machinery and equipment
- Repayment or prepayment, in full or in part, of all or a portion of certain outstanding borrowings availed by the company and investment in its wholly owned material subsidiary
- Investment in its wholly owned material subsidiary, S2 Engineering Industry, for funding its capital expenditure requirements towards the purchase of machinery and equipment
- Funding inorganic growth through strategic investments and/or acquisitions
- General corporate purposes
Standard Glass Lining - PROMOTERS
| Name |
|---|
| Nageswara Rao Kandula |
| Kandula Krishna Veni |
| Kandula Ramakrishna |
| Kudaravalli Punna Rao |
| Venkata Mohana Rao Katragadda |
| M/s S2 Engineering Services |
Standard Glass Lining Book Running Lead Manager
IIFL Capital Services Limited
standardglass.ipo@iiflcap.com
Motilal Oswal Investment Advisors Limited
standardglassipo@motilaloswal.com
Standard Glass Lining Registrar to the Offer
KFin Technologies Limited
sgltl.ipo@kfintech.com
Standard Glass Lining Strengths
Diverse product portfolio
The company is among the few in India providing end-to-end customized solutions for specialized engineering equipment in the pharmaceutical and chemical sectors. As of September 30, 2024, its portfolio includes over 65 products, covering Reaction Systems, Storage, Separation and Drying Systems, and Plant, Engineering, and Services
Long term relationships
The company has built strong, long-standing relationships with marquee clients in the pharmaceutical and chemical industries. Its expertise in delivering customized solutions, technical know-how, and timely order fulfillment has fostered these relationships across its product categories
Geographical advantage
The company operates eight manufacturing facilities spanning over 400,000 sq. ft., strategically located in Hyderabad, Telangana, India's "Pharma Hub," which contributes 40% of the country's bulk drug production (Source: F&S Report)
Standard Glass Lining Risks
Dependent on few vendors for raw materials
The company relies on a limited number of suppliers for key raw materials like stainless steel, carbon/mild steel, nickel alloy, and others. Loss of these suppliers could disrupt manufacturing, delay deliveries, and adversely affect financial performance and operations
Risk of under-utilization
Under-utilization of operational production lines and ineffective use of expanded manufacturing capacities could negatively impact the company's business, future prospects, and financial performance
Delay or default in payments
Delays or defaults in customer payments, or reduced credit periods from service providers, may strain cash flows, leading to significant working capital requirements. Inability to meet these needs could adversely impact the company's business, cash flows, and financial condition
IPO FAQs
This IPO consists of an offer for sale of up to Rs 200.0 crore, of 14,289,367 shares. It also consists of a fresh issue of Rs 210.0 crore.
The promoters of the company are Nageswara Rao Kandula, Kandula Krishna Veni, Kandula Ramakrishna, Kudaravalli Punna Rao, Venkata Mohana Rao Katragadda and M/s S2 Engineering Services.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 133.0 - 140.0.
The IPO application opens on Jan 06, 2025 and closes on Jan 08, 2025.
The minimum lot size for the IPO is 107. The maximum lot size for the IPO is 1391.
For all category investors, the minimum application amount for this IPO is Rs. 14,231.0, the maximum value for this IPO is Rs 194,740.0.
This IPO will be allotted on Jan 09, 2025.
The refund will be credited to your account on Jan 10, 2025.
The allotted shares will be credited to your demat on Jan 10, 2025.
Standard Glass Lining Technology Ltd.’s shares listed on the stock exchanges on Jan 13, 2025.