Standard Glass Lining IPO Highlights: The issue was subscribed to a total of 35.48 times on day 02. The company aims to raise Rs 410 crore through a combination of a fresh issue and an offer for sale. The IPO was subscribed to a tune of 13.67 times on Day 01. The retail investors booked the issue 15.08 times. The NIIs subscribed to the issue 26.21 times.
The IPO was opened for subscription on January 06 and closed on January 08. The allotment of IPO shares will be finalised on January 09. The listing will likely take place on January 13. The IPO price band ranged from Rs 133 to Rs 140 per equity share. IIFL Securities and Motilal Oswal Investment Advisors worked as the book-running lead managers of the IPO, while Kfin Technologies was the registrar for the issue.
Standard Glass Lining IPO Day 2 Subscription Status Highlights: Check IPO GMP price, allotment, listing
Standard Glass Lining IPO subscription status: Geojit Financial Services' take on SGLTL
"At the upper price band of Rs 140, Standard Glass Lining is available at a P/E of 38.5x (on FY25 Annualised), which appears fairly priced compared to peers. The growing demand for glass-lined equipment in pharmaceuticals and chemicals offers significant growth potential," said Geojit Financials in an IPO note.
Standard Glass Lining IPO subscription status: About SGLT
Standard Glass Lining Technology is one of the top five specialized engineering equipment manufacturers for pharmaceutical and chemical sectors in India. Its manufacture products across entire value chain with customized and innovative offerings.
Standard Glass Lining IPO subscription status: Market shares of company
Standard Galss Lining holds a 16.7% market share in the glass-lined equipment segment. It commands a 4% share in the reactors and storage tanks market, 2.8% in the vacuum pumps market, and approximately 0.5% in the heat exchangers market in India. Additionally, the company has a 10.4% market share in the filters and dryers segment.
Standard Glass Lining IPO subscription status: GMP update
The stock of Standard Glass Lining was fetching a premium of almost 66% in the grey market. This indicated that the stock might see a listing around a price of Rs 232 on the stock exchanges. The grey market is an unofficial place to trade shares ahead of listing.
Standard Glass Lining IPO subscription status: Anand Rathi on IPO
"At the upper price band, the company is valuing at a P/E of 43.01x, with an EV/EBITDA of 30.08x, a market cap of Rs 2,792.8 crore post-issue of equity shares, and a return on net worth of 20.74%. We believe that the IPO is fairly priced and recommend a “Subscribe-Long term” rating to the IPO," said Anand Rathi Research in an IPO note.
Standard Glass Lining IPO subscription status: Bajaj Broking on IPO
"If we annualize FY25 earnings and attribute them to the post-IPO fully diluted equity capital, the asking price translates to a P/E of 38.46. Based on FY24 earnings, the P/E is 46.51, indicating that the issue is fully valued in light of recent performance," said Bajaj Broking in an IPO note.
Standard Glass Lining IPO subscription status: Company's financials
The company's financials have doubled over the past three years with an increase in revenue from Rs 240 crore in FY22 to 544 crore in FY24, a compounding growth of 50.4%. "Its EBDITA and profit also grew in the same range as there was some bout of borrowings with increased interest costs with respect to expansion in separation and drying systems," said Reliance Securities in an IPO note.
Standard Glass Lining IPO subscription status: About the company
Standard Glass Lining Technology is one of the top five specialized engineering equipment manufacturers for pharmaceutical and chemical sectors in India, in terms of revenue in FY24, with in-house capabilities across the entire value chain.