Standard Glass Lining Technology Limited Sets Sights on IPO Launch

Standard Glass Lining Technology Limited, a leading engineering equipment manufacturer for pharmaceuticals and chemicals, is set to launch its IPO on January 6, 2025. The company targets capital expenditures, debt repayment, and strategic investments as key uses of the funds. The IPO includes fresh issues and share sales by existing holders.

Standard Glass Lining Technology Limited, among India's top engineering equipment manufacturers for the pharmaceutical and chemical sectors, is gearing up for its Initial Public Offering (IPO) on January 6, 2025. The company has set a price band of Rs 133 to Rs 140 per equity share with a face value of Rs 10 each.

The offering, a combination of fresh issues worth up to Rs 210 crore and the sale of up to 1.42 crore shares by existing shareholders, will conclude on January 8, 2025. Investors can subscribe to a minimum of 107 shares, with larger orders in multiples of 107. These funds will support a range of strategic initiatives, including capital expenditure on machinery, debt repayment, and growth investments.

Standard Glass operates eight facilities across Hyderabad, contributing to 40% of the national bulk drug production. Notable for its in-house manufacturing capabilities, the firm services 30 prominent NSE 500-listed pharmaceutical and chemical companies. Leading the book-running for the IPO are IIFL Capital Services and Motilal Oswal Investment Advisors, with KFin Technologies serving as the registrar.

(With inputs from agencies.)