 "Standard Glass Lining IPO update; Subscription soars 6x, GMP zooms 69%")
Standard Glass Lining Technology IPO Subscription status: Standard Glass Lining Technology has witnessed strong participation from investors for its initial public offering (IPO), which opened for public subscription today. It has been oversubscribed by 6.07x till around 12:32 PM on Monday, January 6, 2025. The public offering has received bids for 12,65,18,940 shares against 2,08,29,567 shares on offer, showed the data available on the National Stock Exchange (NSE).
Non-Institutional Investors (NIIs) showed the highest demand for Standard Glass Lining IPO, subscribing to their reserved category by 9.61 times. This was followed by Retail Individual Investors (RIIs), who subscribed 7.90 times. Meanwhile, the quota reserved for Qualified Institutional Buyers (QIBs) received bids for only 21,293 shares against 57,90,147 shares reserved for the category.
The strong subscription aligns with grey market trends, as Standard Glass Lining's unlisted shares were trading at Rs 237, reflecting a grey market premium (GMP) of Rs 97 or 69.29 per cent over the upper end of the IPO price band of Rs 140, according to sources tracking unofficial markets. Also Check: Leo Dry Fruits IPO allotment
Standard Glass Lining IPO, a book-built issue of Rs 410 crore, is available in a price band of Rs 133-140 per share, with a lot size of 107 shares. The public offering will remain open for subscription until Wednesday, January 8, 2025. Post-closure, the basis of allotment will tentatively be finalised on Thursday, January 9, 2025, with shares credited to demat accounts on Friday, January 10, 2025.
Standard Glass Lining shares are scheduled to list on the BSE and NSE on Monday, January 13, 2025.
Standard Glass Lining IPO review
Also Read
Market analysts remained bullish on the public offering of Standard Glass Lining and have broadly recommended subscribing to the issue for the long-term perspective. READ MORE
About Standard Glass Lining Technology
Standard Glass Lining Technology (SGLTL) is a specialised engineering component manufacturer in India for the pharmaceutical & chemical sector in terms of FY24 revenue, with in-house capabilities across the entire value chain. Its product portfolio comprises core engineering equipment, including reaction systems, storage, separation & drying systems, and plant engineering and services (including other ancillary parts).