IPO (The Initial Public Offer) of Standard Glass Lining Technology Private Limited will open on January 6. Investors will be able to bid for it till 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 wants to raise Rs 410.05 crore through this issue. For this, the company will issue 1.50 crore shares worth Rs 210 crore. Whereas, the existing investors of the company are selling 1.43 crore shares worth Rs 200.05 crore through Offer for Sale (OFS).
The company has fixed the price band of IPO from ₹ 133 – ₹ 140
Standard Glass has fixed the price band of its IPO from Rs 133 to Rs 140 per share. Retail investors can bid for a minimum of one lot i.e. 107 shares. If you apply for 1 lot as per the upper price band of IPO of Rs 140, then you will have to invest Rs 14,980 for it.
At the same time, retail investors can apply for a maximum of 13 lots i.e. 1391 shares. For this, investors must invest Rs 1,94,740 per the upper price band.
10% of the issue is reserved for retail investors
The company has reserved 50% of the issue for Qualified Institutional Buyers (QIB). Apart from this, about 35% is reserved for retail investors and the remaining 15% is reserved for non-institutional investors (NII).
The company manufactures engineering equipment for pharmaceuticals.
Standard Glass Lining Technology Limited is a company manufacturing engineering equipment for the pharmaceutical and chemical sectors in India. It was founded in 2012. The company has in-house production capacity for all its products.
The company provides solutions like turnkey, design, engineering, manufacturing, assembling, installation, and standard operating procedures for pharmaceutical and chemical producers.
What is an IPO?
When a company issues its shares to the general public for the first time, it is called an Initial Public Offering i.e. IPO. The company needs money to expand its business. In such a situation, instead of taking a loan from the market, the company raises money by selling some shares to the public or issuing new shares. For this, the company brings IPO.
