Standard Glass Lining Technology IPO Closed
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Schedule of Standard Glass Lining Technology
| Issue open date | 06 Jan 2025 |
| Issue close date | 08 Jan 2025 |
| UPI mandate deadline | 08 Jan 2025 (5 PM) |
| Allotment finalization | 09 Jan 2025 |
| Refund initiation | 10 Jan 2025 |
| Share credit | 10 Jan 2025 |
| Listing date | 13 Jan 2025 |
| Mandate end date | 23 Jan 2025 |
| Lock-in end date for anchor investors (50%) | 08 Feb 2025 |
| Lock-in end date for anchor investors (remaining) | 09 Apr 2025 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Standard Glass Lining Technology
Incorporated in September 2012, Standard Glass Lining Technology Limited manufactures engineering equipment for the pharmaceutical and chemical sectors. The company provides turnkey solutions, including design, engineering, manufacturing, assembly, installation, and standard operating procedures. Its product portfolio includes Reaction Systems, Storage, Separation and Drying Systems, and Plant Engineering. The company operates eight manufacturing units in Hyderabad and has sales offices in various locations across India. Notable clients include Aurobindo Pharma, Cadila Pharmaceuticals, and Laurus Labs.
Financials of Standard Glass Lining Technology
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹410.05 crores |
| Fresh Issue | ₹210.00 crores |
| Offer for sale | ₹200.05 crores |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Capital expenditure for machinery and equipment | 10.00 (4.76%) |
| Repayment of borrowings and investment in subsidiary | 130.00 (61.90%) |
| Investment in a subsidiary for capital expenditure | 30.00 (14.29%) |
| Inorganic growth through acquisitions | 20.00 (9.52%) |
Strengths
- Top five specialized engineering equipment manufacturers for India’s pharmaceutical and chemical sectors.
- Leading manufacturer of glass-lined, stainless steel, and nickel alloy-based equipment in India.
- Custom solutions for pharmaceutical, chemical, food, and beverage industries.
- Supplied over 11,000 products in the last decade, meeting diverse sector needs.
- In-house manufacturing of stainless steel glass-lined reactors, up to 10KL capacity.
- Active partnerships with HHV Pumps and GL Hakko to strengthen product offerings and market position.
- Equipped with cutting-edge CNC plasma, laser cutting, and welding systems.
Risks
- The company has guaranteed subsidiary loans, and defaults may incur costs that impact profitability.
- Heavy dependence on pharmaceutical and chemical sectors.
- Risks from under-utilization of manufacturing capacity.
- Vulnerability to delays or defaults in customer payments.
- Exposure to raw material cost fluctuations.
- Limited ability to pass on raw material cost increases.
- Dependence on Telangana facilities, subject to risks from disasters and political changes.
Allotment Status for Standard Glass Lining Technology
To check your allotment status – click here.
Subscription Figures for Standard Glass Lining Technology
Subscription numbers as of 5:00 PM on 08 Jan 2025:
| Category | Reserved (lakhs) | Applied (lakhs) | Subscription (X times) |
|---|---|---|---|
| Institutional | 57.90 | 19199.91 | 331.60x |
| HNI (₹2L+) | 45.11 | 12090.84 | 267.98x |
| Retail (upto ₹2L) | 105.27 | 6733.91 | 63.96x |
| Total | 208.29 | 38024.67 | 182.55x |