Here are the key points about the Standard Glass Lining IPO:
- IPO Details: The initial public offering (IPO) of Standard Glass Lining Technology Limited has opened for subscription on January 7, 2025, and will remain open until January 8, 2025.
- Price Band: The issue price band is fixed at ₹133 to ₹140 per equity share.
- Issue Size: The company aims to raise ₹410.05 crore from the public issue, consisting of fresh shares worth ₹210 crore and an offer for sale (OFS) of ₹200.05 crore.
- Grey Market Premium: Shares of the company are available at a premium of ₹98 in the grey market.
- Subscription Status: By 3:03 PM on day one of bidding, the book build issue had been subscribed 9.49 times; the retail portion had been booked 11.86 times, and the NII portion had been filled 16.07 times.
- Lot Size: A bidder can apply in lots, with one lot comprising 107 company shares.
- Allotment Date: The share allocation is expected to take place on January 9, 2025.
- Registrar: Kfin Technologies has been appointed as the official registrar of the book build issue.
- Lead Managers: IIFL Securities and Motilal Oswal Investment Advisors are the lead managers of the public issue.
- Listing Date: The shares are expected to be listed on January 13, 2025.
Analyst Recommendations:
- Prathamesh Masdekar, Research Analyst at Stoxbox, has given a ‘subscribe’ tag to the issue, citing the company’s strong product portfolio and expansion plans.
- Canara Bank Securities, SBI Capital Securities, and INDSEC Securities have also assigned a ‘subscribe’ tag to the public issue, considering the company’s favorable valuation, strong return on equity (RoE), and growth prospects.
Disclaimer: The views and recommendations made by analysts are their own and not of Mint. Investors should consult certified experts before making any investment decisions.