Standard Glass Lining sets price band of Rs 133-140 a share for IPO

The book running lead managers for the IPO are IIFL Capital Services and Motilal Oswal Investment Advisors.

Standard Glass Lining Technology Ltd has announced a price band of Rs 133-140 per share for its upcoming initial public offering (IPO), which will open for subscription on January 6. The anchor book will open on January 3, and the issue will close on January 8. Allotment of shares is scheduled for January 9, with listing on stock exchanges set for January 13.

The IPO includes a fresh issuance of equity shares worth Rs 210 crore and an offer-for-sale (OFS) of 1.4 crore shares by promoters and other shareholders. At the upper price band, the OFS is valued at approximately Rs 196 crore, bringing the total issue size to around Rs 406 crore.

Proceeds from the fresh issue will be used to acquire machinery and equipment, reduce debt, fund inorganic growth, and for general corporate purposes.

The company manufactures critical equipment used in the production of pharmaceutical and chemical products. It ranks among India’s top three manufacturers of glass-lined, stainless steel, and nickel alloy-based specialized engineering equipment, as well as suppliers of PTFE-lined pipelines and fittings, based on revenue in fiscal 2024.

The book running lead managers for the IPO are IIFL Capital Services and Motilal Oswal Investment Advisors.