The initial public offering i.e. IPO of Standard Glass Lining Technology Private Limited has been opened for listing on the stock exchanges from today. Investors will be able to bid until January 8. On January 13, the company’s shares will be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
The company aims to raise ₹410.05 crore through this issue. For this, the company will issue 1.50 crore shares worth Rs 210 crore. While the existing investors of the company are selling 1.43 crore shares worth Rs 200.05 crore through an offer for sale i.e. OFS.
The company has set an IPO price range of ₹133 to ₹140.
Standard Glass has set the price band for its IPO at Rs 133 to Rs 140 per share. Individual investors can bid on at least one lot, i.e. 107 shares. If you apply for 1 lot in the upper IPO price band of Rs 140, then you will need to invest Rs 14,980.
At the same time, retail investors can apply for a maximum of 13 lots, or 1,391 shares. For this, investors will have to invest Rs 1,94,740 as per the upper price band.
10% of the issue reserved for individual investors
The company has reserved 50% of the issue for Qualified Institutional Buyers (QIB). Apart from this, around 35% of the shares are reserved for retail investors and the remaining 15% are reserved for non-institutional investors (NII).
The company manufactures engineering equipment for pharmaceutical products
Standard Glass Lining Technology Limited is a manufacturer of engineering equipment for the pharmaceutical and chemical sectors in India. It was established in 2012. The company has in-house production capacity for all its products.
The company provides turnkey solutions, including design, engineering, manufacturing, assembly, installation and standard operating procedures, to pharmaceutical and chemical producers.
What is IPO?
When a company issues its shares to the general public for the first time, it is called an initial public offering, i.e. an IPO. The company needs money to expand its business. In such a situation, instead of taking a loan from the market, the company raises funds by selling some shares to the public or issuing new shares. For this, the company brings an IPO.
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