The Standard Glass Lining Technology IPO has officially opened for subscription today, January 6, 2025. As investors eagerly await the details of this significant offering, we provide live updates on the subscription status, grey market premium (GMP), financial performance, and expert insights.
IPO Overview
- Issue Size: ₹1,250 crore
- Fresh Equity Offering: Up to ₹210 crore
- Offer for Sale: Up to 1.42 crore shares
- Price Band: ₹133 – ₹140 per share
- Lot Size: 107 shares (minimum investment of ₹14,910)
Subscription Status
As of now, the Standard Glass Lining IPO has been subscribed 1.82 times, with strong participation from various investor categories:
- Retail Individual Investors (RIIs): Subscribed 3.97 times
- Non-Institutional Investors (NIIs): Subscribed 3.92 times
- Qualified Institutional Buyers (QIBs): Currently at 0.00 times
This robust demand indicates positive sentiment among retail and non-institutional investors.
Grey Market Premium (GMP)
The grey market premium for Standard Glass Lining shares currently stands at approximately ₹97, reflecting a strong 69% premium over the upper end of the issue price. This suggests that investors are optimistic about the stock’s performance once it lists on the exchange.
Key Financials
Standard Glass Lining Technologies has shown promising financial growth:
- FY24 Revenue: ₹544 crore (up 9% YoY)
- FY24 Profit After Tax: ₹60 crore (up 13% YoY)
- H1 FY25 Revenue: ₹307 crore
- H1 FY25 Profit: ₹36 crore
The company is recognized as one of the top five specialized engineering equipment manufacturers for the pharmaceutical and chemical sectors in India.
Important Dates to Remember
- IPO Opening Date: January 6, 2025
- IPO Closing Date: January 8, 2025
- Basis of Allotment: Expected on January 9, 2025
- Credit of Shares to Demat Accounts: January 10, 2025
- Listing Date: Tentatively set for January 13, 2025
Should You Apply?
Given the strong subscription numbers and attractive GMP, many analysts recommend applying for the Standard Glass Lining IPO. The company’s robust financial performance and strategic growth initiatives make it an appealing investment opportunity. However, potential investors should also consider their risk tolerance and investment strategy before making a decision.
Expert Opinions
Market analysts are generally optimistic about the Standard Glass Lining IPO. Here are some key insights:
- Canara Bank Securities recommends subscribing for both listing gains and long-term growth due to the company’s market leadership and extensive client base.
- IndSec Research highlights that at the upper price band of ₹140, the IPO is priced at a post-IPO dilutive FY24 P/E of 47.8x, which is a discount compared to industry averages. They emphasize strong growth potential driven by increasing global demand.
- Analysts note that Standard Glass Lining’s strategic diversification into maintenance services enhances customer retention and positions it well for future growth.
Conclusion
With strong subscription levels and a significant grey market premium, the Standard Glass Lining IPO is generating considerable interest among investors. As the subscription period continues until January 8, potential investors should stay informed about developments and consider their investment strategies carefully.
Disclaimer
The information provided in this article is based on market analysis and does not constitute financial advice from the author or publication. Investors are encouraged to consult with certified financial advisors before making any investment decisions. The author and publication will not be liable for any losses incurred as a result of trading decisions based on this information.
