Standard Glass Lining IPO subscription soars to 24x on Day 2 so far; GMP surges

Standard Glass Lining Technology IPO continues to garner robust subscription on Day 2 of issue.

Standard Glass Lining Technology IPO continues to garner strong subscription on its second day of bidding on January 7 in the primary market. The issue got fully subscribed within minutes of opening for share sale on Monday.

Standard Glass Lining Technology initial public offer (IPO) worth Rs 410.05-crore received bids for 50.26 crore shares against 2.08 crore shares on offer, translating into 24.13 times subscription, as per NSE data at 1 PM.

Retail Individual Investors (RIIs) part fetched 24.85 times subscription while the quota for non-institutional investors garnered 49.05 times subscription. Qualified Institutional Buyers(QIBs) bid for 3.42 times.

Earlier, the company mobilised Rs 123 crore from anchor investors. The issue, with a price band of Rs 133-140 per share, will conclude on January 8.

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

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 66 percent in the unofficial market. Investorgain quoted a GMP of Rs 93 for the share of the company, signalling a listing gain of 66.43 percent.

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Standard Glass Lining IPO Details

Standard Glass Lining Technology offers comprehensive solutions that encompass design, engineering, manufacturing, assembly, installation, and commissioning and establishing standard operating procedures for pharmaceutical and chemical manufacturers on a turnkey basis.

Standard Glass Lining shares will be listed on the BSE and the National Stock Exchange (NSE) on 13th January, while the allotment is likely to take place on 9th January.

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