Amansa Investment invests Rs 40 crore pvt placement in IPO-bound Standard Glass Lining Technology

Amansa Investment invests Rs 40 crore pvt placement in IPO-bound Standard Glass Lining Technology

Standard Glass Lining Technology Limited, a manufacturer of specialized engineering equipment for the pharmaceutical and chemical industries, has secured Rs 40 crore through pre-IPO funding via private placement from Amansa Investments Limited.

Standard Glass issued over 28.57 lakh equity shares to Amansa Investments at a price of Rs 140 per share (including a premium of Rs 130), in consultation with the lead bankers.

This transaction, amounting to Rs 40 crore, represents 1.55 per cent of the company's pre-offer share capital, a press release from Standard Glass said on Friday.

According to the DRHP (draft red herring prospectus) filed in July 2024, the public issue with a face value of Rs 10 per equity share is a mix of fresh issue of shares up to Rs 250 crore and an offer for sale up to 1,84,44,000 equity shares of promoters and other selling shareholders.

In October, the company received SEBI'S final observation for the initial public offering (IPO).

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

Its product portfolio includes essential equipment used in the production of pharmaceutical and chemical products, categorized into Reaction Systems; Storage, Separation and Drying Systems; and Plant, Engineering and Services.

As of March 31, 2024, the portfolio consisted of more than 65 products and offerings. Over the last decade, it has delivered more than 11,000 products, it added.

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