Standard Glass Lining Secures Rs 40 Crore in Pre-IPO Boost

Standard Glass Lining Technology Limited, a key player in engineering equipment for the pharmaceutical and chemical sectors, clinched Rs 40 crore through pre-IPO funding from Amansa Investments Limited. The company aims to enhance its portfolio and prepare for an upcoming IPO while continuing its comprehensive solutions for manufacturers.

Standard Glass Lining Technology Limited, an influential name in engineering equipment for pharmaceutical and chemical industries, announced it has raised Rs 40 crore through pre-IPO funding. The funding was secured via private placement from Amansa Investments Limited.

This substantial financial boost saw Standard Glass issuing over 28.57 lakh equity shares to Amansa Investments. Priced at Rs 140 per share, the transaction represents 1.55 per cent of the company's pre-offer share capital, according to a press release.

Following the filing of a draft red herring prospectus in July 2024, Standard Glass plans a public issue encompassing both fresh issues amounting to Rs 250 crore and an offer for sale stretching up to 1,84,44,000 equity shares from promoters and selling shareholders. The upcoming IPO received SEBI's final observation in October, positioning the company for future growth.

(With inputs from agencies.)