Despite being a Black monday for the stock market, Standard Glass Lining Technology's IPO has had a great listing on the stock exchange. The company had raised money from the capital market at an issue price of Rs 140 and the IPO of Standard Glass Lining technology has been listed on the BSE at Rs 176 with a jump of 23.50 percent. The IPO has been listed on NSE at a price of Rs 172.
Today is proving to be a very heavy day for stock market investors. But the investors who got shares allotted in the IPO of Standard Glass Lining technology are breathing a sigh of relief today. Standard Glass Lining has had a good listing on the stock exchange. The market capitalization of Standard Glass Lining technology has become Rs 3454.20 crore with listing.
The company has raised Rs 410.5 crore from the market at an issue price of Rs 140. In which Rs 210 crore has been raised through a fresh issue of 1.50 crore and Rs 200.05 crore through an offer for sale (OFS) of 1.43 crore shares. The company had fixed the price band of the IPO at Rs 133-140 per share. The IPO was open for application from 6-8 january 2025.
Standard Glass Lining Technology's IPO received a great response from investors. This IPO was subscribed a total of 185.48 times and the company received applications of Rs 53,238.58 crore against the IPO size of Rs 410 crore. The quota reserved for institutional investors (QIB) was subscribed 328 times, the quota reserved for non-institutional investors 275 times and the quota reserved for retail investors 66 times. 2,05,02,558 shares were offered in the IPO and applications were received for 3,80,27,56,032 shares. Standard Glass Lining technology was founded in the year 2012 and the Hyderabad-based company manufactures engineering equipment in the pharmaceutical and chemical sectors.
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