Standard Glass Lining Technology Limited’s IPO, concluded between January 6th and 8th, 2025, raised ₹410.05 crore. This Mainline IPO comprised a ₹210.00 crore fresh issue and a ₹200.05 crore offer for sale. The price band was set at ₹133.00-₹140.00 per share, with a minimum lot size of 107 shares costing ₹14,980.

Established in September 2012, Standard Glass Lining Technology specializes in manufacturing technical equipment for the pharmaceutical and chemical industries. Their offerings include glass-lined, stainless steel, and nickel-alloy equipment, along with PTFE-lined piping and fittings. They boast a diverse clientele, including 30 of the approximately 80 pharmaceutical and chemical companies listed in the NSE 500 Index (as of June 30, 2024). Key partnerships include supply agreements with HHV Pumps Private Limited and Japanese companies Asahi Glassplant Inc. and GL Hakko Co Ltd for glass procurement.

The company’s financial performance shows promising growth. Revenue increased by 10% and profit after tax (PAT) rose by 12% between FY23 and FY24. The net proceeds from the IPO will be utilized for capital expenditure (machinery and equipment), repayment of borrowings, investments in a wholly-owned subsidiary (S2 Engineering Industry Private Limited), inorganic growth through acquisitions, and general corporate purposes. The IPO allocation was 50% for Qualified Institutional Buyers (QIBs), at least 15% for Non-Institutional Investors (NIIs), and at least 25% for retail investors.

IIFL Securities and Motilal Oswal Investment Advisors acted as book-runners, while Kfin Technologies served as the registrar. Pre-IPO, a strong anchor investor round raised ₹123.01 crore. Analysts at Anand Rathi recommended a long-term subscription, citing a P/E of 43.01x and EV/EBITDA of 30.08x at the upper price band. While the grey market premium (GMP) indicated a high listing expectation, investors should conduct thorough due diligence before making investment decisions. This information is for educational purposes only and does not constitute investment advice.