Standard Glass Lining IPO Live Updates: The initial public offering (IPO) of Standard Glass Lining Technology Ltd closed for subscription on Wednesday, January 8. The bidding for the IPO had commenced on Monday, January 6. The ₹410.05 crore-worth Standard Glass Lining IPO comprises a fresh issuance of equity shares worth ₹210 crore and an offer-for-sale (OFS) of up to 1.43 crore equity shares by its promoters and other selling stakeholders. Standard Glass Lining IPO price band has been set at ₹133 to ₹140 per share. The equity shares of Standard Glass Lining Technology will be listed on BSE and NSE.
Standard Glass Lining IPO Live: Standard Glass Lining IPO allotment date in focus as bidding ends
Standard Glass Lining IPO Live: Standard Glass Lining IPO allotment date will be in focus as the bidding period of the issue has ended. Standard Glass Lining IPO received a massive 182.57 times subscription at the end of the third and final day of the bidding process on January 8. The QIB category was booked 331.60 times, the NII category 267.99 times and the retail category 63.99 times.
Standard Glass Lining IPO Live: GMP falls to ₹91 after final day of bidding.
Standard Glass Lining IPO Live: As of January 8, the grey market premium (GMP) for Standard Glass Lining’s public issue stands at ₹91 per share.
With the upper price band of the issue at ₹140, the shares are estimated to be listed at ₹231, a premium of 65%, according to data collected from Investorgain.com.
Grey market premium (GMP) is investors’ willingness to pay more for a public issue. The GMP fell to the current level of ₹91, compared to ₹96 on January 7 after the second day.
Standard Glass Lining IPO Live: Issue subscribed 182.57 times at the end of Day 3
Standard Glass Lining IPO was booked 182.57 times at the end of the third and final day of the bidding process. The QIB category was booked 331.60 times, the NII category 267.99 times and the retail category 63.99 times.
Standard Glass Lining IPO Live: Financial snapshot
SGLTL’s revenue grew from ₹240.2 cr in FY22 to ₹543.7 cr in FY24 (CAGR 50.5%), while PAT rose from ₹25.1 cr to ₹60.0 cr (CAGR 55%), aided by its strategic partnerships and inorganic acquisitions.
SGLTL has an average EBITDA margin of 17.2% and PAT margin of 10.7%, with an RoE of 28.5% in the FY22-24 period, indicating strong financial stability. As of September 30, 2024, the company’s net debt-to-equity ratio stood at 0.3x.
Standard Glass Lining IPO Live: Key milestones & achievements for the company
2013: Incorporated the Glass Lining Division.
2014: Sold 100 glass-lined reactors.
2016: Supplied first unique stainless steel glass-lined reactor to Natco Pharma Limited.
2018: Our Company hit a turnover of ₹500,000,000.
2019: Finished construction of new facility for glass lining equipment at SGL Unit.
2021: Our Material Subsidiary was incorporated as a wholly-owned subsidiary.
2021: Our Material Subsidiary acquired metal business from M/s S2 Engineering Services and pumps business from M/s Stanpumps Engineering Industries.
2022: Agreement with Climaveneta Climate Technologies Private Limited to enter the chillers market.
2023: Investment from AGI Investors in our Company.
2024: Acquired Hyderabad-based C.P.K. Engineers Private Limited.
Standard Glass Lining IPO Live: A look at the shareholders selling stake via OFS
M/s S2 Engineering Services, the promoter selling shareholder, will offer up to 5,204,000 equity shares
Kandula Ramakrishna, another promoter selling shareholder, will offer up to 2,870,651 equity shares
Kandula Krishna Veni, also a promoter selling shareholder, will offer up to 2,401,716 equity shares
Nageswara Rao Kandula, a promoter selling shareholder, will offer up to 765,000 equity shares
M/s Standard Holdings, a promoter group selling shareholder, will offer up to 504,000 equity shares
Katragadda Venkata Ramani, a promoter group selling shareholder, will offer up to 580,000 equity shares
Venkata Siva Prasad Katragadda, another promoter group selling shareholder, will offer up to 350,000 equity shares
Mahitha Katragadda, an other selling shareholder, will offer up to 350,000 equity shares
Katragadda Harini, another other selling shareholder, will offer up to 350,000 equity shares
Likitha Katragadda, also an other selling shareholder, will offer up to 350,000 equity shares
Standard Glass Lining IPO Live: Issue subscribed over 181 times so far
Standard Glass Lining IPO was booked 181.72 times as of 4.20 pm on the last day of the bidding process. Retail portion was subscribed 62.49 times, NII portion was booked 267.57 times and the QIB portion 331.60 times.
Standard Glass Lining IPO Live: Details about the company
Standard Glass Lining Technology is a specialized engineering equipment manufacturer for the pharmaceutical and chemical sectors in India with in-house capabilities across the entire value chain. Its product portfolio comprises core engineering equipment categorized into (i) reaction systems, (ii) storage, separation & drying systems, and (iii) plant, engineering, and services (including other ancillary parts).
• SGLTL is one of the few companies in India offering end-to-end customized solutions in the specialized engineering equipment used in the pharmaceutical and chemical sectors. The company operates out of 8 manufacturing facilities spread across 4 lakh sqft. in Hyderabad and has the capability to manufacture reactors, receivers, and storage tanks ranging from 30 liters to 40,000 liters in size.
• The company’s comprehensive product portfolio consists of 65+ products & offerings across the pharma and chemical industries and is also developing 15 more products.
• The company can manufacture process equipment using alloys with 1 to 60 MM thickness applied in Food, Pharma, and chemicals.
• The company is further looking to expand capacity and is venturing into the 150 MM thickness segment, which will provide a gateway to sectors like Oil & Gas, Edible Oil, and Heavy Engineering, etc.
• The company has entered into an agreement with HHV Pumps Private Limited (“HHV”), for the supply of vacuum pumps along with a private label arrangement. The company also has a supply and purchase arrangement for India with Japan-based Asahi Glassplant Inc. and GL Hakko Co. Ltd (“GL Hakko”) for procurement of specified grades of glass for its glass lining division.
• The company has also entered into an exclusive collaboration with GL Hakko for exclusively purchasing glass-lined tubes manufactured by GL Hakko, using which the company will manufacture and sell shell and heat tube exchangers under the name of GL Hakko in India and abroad, except Japan.
Standard Glass Lining IPO Live: Standard Glass Lining IPO GMP today signals 63% listing pop
Standard Glass Lining IPO GMP today is ₹88. At the current IPO price of ₹140 and GMP of ₹88, the company shares could list at ₹228, a premium of 63%.
Standard Glass Lining IPO Live: Geojit Financial recommends subscribe from medium to long-term basis
At the upper price band of Rs. 140, SGLTL is available at a P/E of 38.5x (on FY25 Annualized), which appears fairly priced compared to peers. The growing demand for glass-lined equipment in pharmaceuticals and chemicals offers significant growth potential. SGLTL’s healthy margins, consistent revenue growth, robust growth outlook, a diverse product portfolio with a focus on customization, and inorganic growth plans support a “Subscribe” rating for the stock on a medium to long-term basis.
Standard Glass Lining IPO Live: Issue subscribed over 160 times so far
Standard Glass Lining IPO Live: Standard Glass Lining IPO has been subscribed 159.62 times so far. The issue received bids for 332.47 crore equity shares as against 2.08 crore shares on the offer, as per NSE data till 2:55 PM on January 8, the third and the last day of the bidding process. The Retail Investors category is booked 57.65 times, while the Non-Institutional Investors (NII) portion is subscribed 247.16 times. The Qualified Institutional Buyers (QIBs) category is booked 276.79 times.
Standard Glass Lining IPO Live: A look at the company’s listed peers
Standard Glass Lining IPO Live: A look at the company’s listed peers
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Standard Glass Lining IPO Live: Here’s how the company plans to utilise the net issue proceeds
Standard Glass Lining IPO Live: Standard Glass Lining IPO includes a fresh issue of ₹210 crore and an OFS of ₹200 crore. Proceeds from the fresh issue will fund capital expenditure ( ₹10 crore), repay borrowings,( ₹130 crore) invest in subsidiary S2 Engineering ( ₹30 crore), Funding inorganic growth ( ₹20 crore) and cover general corporate purposes.
Standard Glass Lining IPO Live: Issue subscribed over 82 times so far
Standard Glass Lining IPO Live: Standard Glass Lining IPO has been subscribed 81.92 times so far. The issue received bids for 170.63 crore equity shares as against 2.08 crore shares on the offer, as per NSE data till 1:25 PM on January 8, the third and the last day of the bidding process. The Retail Investors category is booked 50.65 times, while the Non-Institutional Investors (NII) portion is subscribed 187.90 times. The Qualified Institutional Buyers (QIBs) category is booked 56.19 times.
Standard Glass Lining IPO Live: Subscribe for listing and long-term gains: Canara Bank Securities
Standard Glass Lining IPO Live: Standard Glass Lining Technology boasts a robust order book valued at ₹450 crore, emphasizing automation and operational efficiency. The company is currently valued at a price-to-earnings (P/E) ratio of 39.77x, which is favourable compared to the industry average of 52.50x. SGL exhibits a strong return on equity (RoE) of 20.74%, surpassing the sector’s average of 16.96%. Revenue from Operations on a consolidated basis increased by 50.45% between FY 2022 and FY 2024. Given SGL’s market leadership, extensive client base, and strategic growth initiatives, we recommend SUBSCRIBE to this issue for listing & long-term gains, says Canara Bank Securities.
Standard Glass Lining IPO Live: IPO lot size is 107 shares
Standard Glass Lining IPO Live: Standard Glass Lining IPO lot size is 107 shares. The minimum investment amount required by retail investors is ₹14,980. A retail shareholder can bid up to 13 lots with the required investment amount of ₹1,94,740.
Standard Glass Lining IPO Live: Arihant Capital assigns ‘Subscribe’ rating
Standard Glass Lining IPO Live: Standard Glass Lining Technology is one of the top five specialized engineering equipment manufacturer in India. With a customized product and advanced manufacturing facilities the company has a solid growth potential. At the upper band of ₹140, the issue is valued at an EV/EBITDA multiple of 28.44x based on FY24 EBITDA and P/E ratio of 38.50x, based on an annualized FY25 EPS of ₹3.64. We assign a “Subscribe rating” for this issue, said Arihant Capital.
Standard Glass Lining IPO Live: Standard Glass Lining IPO GMP today at 69%
Standard Glass Lining IPO Live: Standard Glass Lining Technology shares are commanding a decent grey market premium (GMP) today. According to stock market observers, Standard Glass Lining IPO GMP today is ₹97 per share. This indicates that in the grey market, Standard Glass Lining Technology shares are trading at ₹236 apiece, a premium of 69% to the issue price of ₹140 per share.
Standard Glass Lining IPO Live: Issue subscribed over 47 times so far
Standard Glass Lining IPO Live: Standard Glass Lining IPO has been subscribed 47.67 times so far. The issue received bids for 99.30 crore equity shares as against 2.08 crore shares on the offer, as per NSE data till 11:00 AM on January 8, the third and the last day of the bidding process. The Retail Investors category is booked 40.88 times, while the Non-Institutional Investors (NII) portion is subscribed 118.62 times. The Qualified Institutional Buyers (QIBs) category is booked 4.75 times.
Standard Glass Lining IPO Live: Standard Glass Lining IPO key details
Standard Glass Lining IPO Live: Standard Glass Lining IPO key details
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Standard Glass Lining IPO Live: Kfin Technologies is the IPO registrar
Standard Glass Lining IPO Live: IIFL Securities Ltd, Motilal Oswal Investment Advisors are the book running lead managers of the Standard Glass Lining IPO, while Kfin Technologies is the IPO registrar.
Standard Glass Lining IPO Live: Issue subscribed 34.82 times on second day
Standard Glass Lining IPO Live: Standard Glass Lining IPO has been subscribed 34.82 times at the end of the second day of the bidding process on January 7. The issue received bids for 72.53 crore equity shares as against 2.08 crore shares on the offer. The Retail investors category is booked 32.83 times, while the Non-Institutional Investors (NII) portion is subscribed 78.14 times so far. The Qualified Institutional Buyers (QIBs) category is booked 4.69 times.
Standard Glass Lining IPO Live: Price band for ₹410.05-worth IPO set at ₹133-140
Standard Glass Lining IPO Live: Standard Glass Lining IPO price band has been set at ₹133 to ₹140 per share. The ₹410.05 crore-worth Standard Glass Lining IPO comprises a fresh issuance of equity shares worth ₹210 crore and an offer-for-sale (OFS) of up to 1.43 crore equity shares by its promoters and other selling stakeholders. The company has secured ₹123 crore from anchor investors in advance of its issue opening.
Standard Glass Lining IPO Live: Timeline of Standard Glass Lining IPO
Standard Glass Lining IPO Live: Standard Glass Lining IPO opened for subscription on January 6 and will close today, January 8. The IPO allotment is expected to be finalized on January 9 and the company will credit the equity shares into the demat accounts of eligible allotees on January 10 and initiate refunds to unsuccessful bidders on the same day. Standard Glass Lining IPO listing date is likely January 13 and the shares will be listed on NSE and BSE.
Standard Glass Lining IPO Live: Issue enters third and last day of bidding
Standard Glass Lining IPO Live: The initial public offering (IPO) of Standard Glass Lining Technology Ltd enters its third and the last day of bidding today, January 8. The issue opened for subscription on Monday, January 6, and will close today, Wednesday. Hence, investors have only one day left to apply for the Standard Glass Lining IPO.
