Standard Glass Lining, a leading manufacturer of specialised engineering equipment for the pharmaceutical and chemical industries, has launched its initial public offering (IPO) today at a price band of Rs 133-140. The IPO, worth Rs 410.05 crore, consists of a fresh issue of Rs 210 crore and an offer for sale by existing shareholders.
Investors can bid for a minimum of 107 shares and in multiples of 107 thereafter. The issue has been reserved for different categories of investors, with 35% for retail investors, 50% for qualified institutional buyers (QIBs), and 15% for high net worth individuals.
The company has already raised Rs 123 crore from anchor investors, including both foreign and domestic institutions. The proceeds from the IPO will be utilized for various purposes, including funding capital expenditure, repayment of borrowings, and investment in subsidiaries for growth.
Standard Glass Lining’s core capabilities include designing, engineering, manufacturing, and commissioning equipment for pharmaceutical and chemical manufacturers. It is among the top three manufacturers of specialised engineering equipment in India and has a strong customer base in the pharmaceutical and chemical industries.
The company operates through eight manufacturing facilities in Hyderabad, Telangana, which is known as the “Pharma Hub” of India. It has a track record of growth and has supplied over 11,000 products to its customers.
IIFL Capital Services Limited and Motilal Oswal Investment Advisors Limited are the book-running lead managers for the IPO, and KFin Technologies Limited is the registrar of the issue.
Overall, Standard Glass Lining’s IPO presents an opportunity for investors to participate in the growth story of a company with a strong presence in the pharmaceutical and chemical industries. With its focus on innovation and customer satisfaction, the company is well-positioned to capitalize on the growing demand for specialised engineering equipment in these sectors.
