Mumbai5 days ago
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The Initial Public Offer i.e. IPO of Standard Glass Lining Technology Private Limited has opened from today for listing in the stock market. Investors will be able to bid for it till January 8. On January 13, the company’s shares will be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
The company wants to raise ₹410.05 crore through this issue. For this the company will issue 1.50 crore shares worth Rs 210 crore. Whereas, the existing investors of the company are selling 1.43 crore shares worth Rs 200.05 crore through Offer for Sale i.e. OFS.
The company made the IPO price band from ₹ 133 – ₹ 140.
Standard Glass has fixed the price band of its IPO at Rs 133 to Rs 140 per share. Retail investors can bid for a minimum of one lot i.e. 107 shares. If you apply for 1 lot at the upper price band of IPO at Rs 140, then you will have to invest Rs 14,980.
At the same time, retail investors can apply for maximum 13 lots i.e. 1391 shares. For this, investors will have to invest Rs 1,94,740 as per the upper price band.
10% of the issue reserved for retail investors
The company has reserved 50% of the issue for Qualified Institutional Buyers (QIB). Apart from this, about 35% share is reserved for retail investors and the remaining 15% share is reserved for non-institutional investors (NII).
Company manufactures engineering equipment for pharmaceuticals
Standard Glass Lining Technology Limited is a manufacturing of engineering equipment for the pharmaceutical and chemical sectors in India. It was established in 2012. The company has in-house production capacity for all its products.
The company provides turnkey solutions, including design, engineering, manufacturing, assembling, installation and standard operating procedures, to pharmaceutical and chemical producers.
What is IPO?
When a company issues its shares to the general public for the first time, it is called Initial Public Offering i.e. IPO. The company needs money to expand its business. In such a situation, instead of taking loan from the market, the company raises money by selling some shares to the public or issuing new shares. For this the company brings IPO.
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