Standard Glass Lining IPO sails through within 20 minutes on Day 1; GMP surges to nearly 70%

Standard Glass Lining IPO sails through within 20 minutes on Day 1; GMP surges to nearly 70%

Standard Glass Lining Technology IPO was fully subscribed within 20 minutes on the first day of subscription on January 6.

Standard Glass Lining Technology's maiden share sale got 5.01 times subscription on the Day 1 of bidding on Monday, receiving bids for 10.43 crore shares shares against 2.08 crore shares on offer, as per NSE data.

Non-institutional investors garnered 9.10 times subscription while the quota for Retail Individual Investors (RIIs) got subscribed 5.97 times.

Earlier, the mobilised Rs 123 crore from anchor investors ahead of its initial public offer opening for public subscription. The issue, with a price band of Rs 133-140 per share, will conclude on January 8.

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The Rs 410.05 crore public issue is a combination of fresh issuance of equity shares worth Rs 210 crore and an offer for sale (OFS) of up to 1.43 crore shares by promoters and other selling shareholders, according to the red herring prospectus (RHP).

Standard Glass Lining Technology IPO GMP Today Price

According to market observers tracking the grey market premium activities, the shares of the company are commanding a GMP of around 70 percent. Investorgain quoted a GMP of Rs 97 over the IPO price of the company, signalling a listing gain of 69.28 percent.

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