Investors have responded favorably to Standard Glass Lining Technology Ltd.'s IPO, particularly non-institutional investors. As of Tuesday, the second day of subscription, at 4.30 pm, 34.68 times subscriptions had been made to the initial share sale.
Subscription across all categories
With bids for 34,41,45,277 shares versus the 45,11,826 shares available, NIIs subscribed their share 78.33 times.
The retail investor quota was subscribed for 33.15 times. Their bids were for 33,98,09,744 shares, while the offer was for 1,05,27,594.
With 57,90,147 shares reserved, qualified institutional investors bid for 2,71,22,681 shares, resulting in a 4.63-fold subscription.
IPO size and structure
The Standard Glass Lining IPO is a Rs 410.05 crore book-built offering. This issue consists of a 1.50 crore share fresh issue worth Rs 210.00 crores and a 1.43 crore share sale offer worth Rs 200.05 crores.
Price band and minimum bid
The price range for the standard Glass Lining IPO is Rs 133 to Rs 140 per share. For an application, the minimum lot size is 107. Retail investors must make a minimum investment of Rs 14,980.
Both sNII and bNII require a minimum lot size investment of 14 lots comprising of 1,498 shares, amounting to Rs 2,09,720, and 67 lots comprising of 7,169 shares, totalling to Rs 10,03,660, respectively.
Subscription and listing period
The subscription period for the Standard Glass Lining IPO bidding began on January 6, 2025, and it will end on January 8, 2025. On Thursday, January 9, 2025, the Standard Glass Lining IPO allotment is anticipated to be finalised.
The Standard Glass Lining IPO is scheduled to list on the NSE and BSE on Monday, January 13, 2025.
Company financials
In FY23, the standard glass lining PAT (profit after tax) was Rs 53.42 crore; in FY2024, it increased by 12.33 per cent to Rs 60.01 crore. The company reported revenue of Rs 500.08 crore in FY23, up 9.91 per cent year over year from Rs 549.68 crore in FY24.
