Standard Glass Lining IPO Share Price Allotment Highlights: The Standard Glass Lining IPO opened for subscription on January 6. It closed the IPO bidding on January 8. The price band was set between Rs 133 to Rs 140 per share. With a total value of Rs 410.05 crores, this issue comprises a fresh issue of 1.50 crore shares, valued at Rs 210.00 crores, and an offer for sale of 1.43 crore shares, amounting to Rs 200.05 crores.
The allotment for the IPO is expected to be finalised on January 9, 2025, with the listing of shares on the NSE and BSE scheduled for January 13, 2025.
Standard Glass Lining IPO allotment live updates: How to check your IPO bid status on NSE
Follow these steps to check the status of your IPO bid on the NSE website:
- Open the official website of the National Stock Exchange (NSE).
- Look for the section dedicated to IPO bid status verification.
- If you already have an account, log in using your credentials. If you're a new user, sign up to create an account.
- From the list of available IPOs, choose “Standard Glass Lining Technology.”
- Input your application number and PAN (Permanent Account Number).
- Click on the “Submit” button to check the status of your IPO application.
Your application status will then be displayed on the screen.
Standard Glass Lining IPO allotment live updates: Company's agreements
Standard Glass Lining IPO allotment live updates: Where to check allotment status
Investors who have applied for the IPO of Standard Glass Lining can check the allotment status online on NSE, BSE, and Kfin Technologies. Investors can go tap at the below link. After that, login with your username and password. Select SGLTL from the dropdown menu. Enter the required details, and then click submit to view your allotment status.
https://www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
Standard Glass Lining IPO allotment live updates: Financial highlights
Standard Glass Lining Technology's revenue increased by 10%, and its profit after tax (PAT) rose by 12% when comparing the financial year ending on March 31, 2024, with the previous year ending on March 31, 2023.
The company plans to use the net proceeds raised from the IPO to buy machinery and equipment, pay off some loans of the company and its subsidiary, S2 Engineering Industry, invest in S2 Engineering for its growth, and fund possible acquisitions or investments. Some of the funds will also be used for general business expenses.
Standard Glass Lining IPO allotment live updates: Lead managers and registrars
The IPO is being managed by two key players: IIFL Securities and Motilal Oswal Investment Advisors, who are serving as the book-running lead managers for the offering. In addition, KFin Technologies Limited has been appointed as the registrar.
Standard Glass Lining IPO allotment live updates: Anchor round
Prominent foreign and domestic institutions that took part in the anchor round include Amansa Holdings, Clarus Capital, ICICI Prudential MF, Kotak Mahindra Trustee, Tata MF, Motilal Oswal MF, and the Massachusetts Institute of Technology, among others.
Standard Glass Lining IPO allotment live updates: Subscription status
The IPO of Standard Glass Lining was subscribed to a total of 185.48 times. The retail buyers booked the issue 65.71 times and 275.21 times by the NIIs. The QIBs dominated the issue by subscribing it 327.76 times.
Here’s how you can check the status of your IPO bid on registrars, Technologies website
Go to the Kfin Technologies website.
Open the page where you can check your IPO allotment.
Pick any of the five links shown on the page.
Find "Standard Glass Lining Technology" from the list of companies.
Type in your application number, PAN, or Demat details.
Solve the captcha and click "Submit" to see if you got the allotment.
“At the upper price band of Rs.140, SGLTL 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. SGLTL’s healthy margins, consistent revenue growth robust growth outlook, a diverse product portfolio with a focus on customization, and inorganic growth plans support a “Subscribe” rating for the stock on a medium to longterm basis,” said Geojit Securities in an IPO note.
Here's how you can check the status of your IPO bid on NSE:
- Go to the NSE website.
- Find the IPO bid verification page.
- Log in if you already have an account or sign up if you’re new.
- From the list, choose "Standard Glass Lining Technology."
- Enter your application number and PAN (a special number given by the government).
- Click "Submit" to see the status of your application.
Here is how to check the allotment status via BSE
- Go to the BSE IPO allotment page.
- Select "Equity" as the type.
- Choose "Standard Glass Lining Technology" from the list.
- Enter your application number or PAN and click "Search" to see if you got shares.
Investors who applied for the Standard Glass Lining Technology IPO can check if they got shares online. They can visit the BSE, NSE, or the registrar's website, Kfin Technologies, to see their allotment status.
"Over the past three fiscal years, the company has reported consolidated total income and net profit figures as follows: Rs. 241.50 crore and Rs. 25.15 crore in FY22, Rs. 500.01 crore and Rs. 53.42 crore in FY23, and Rs. 549.68 crore and Rs. 60.01 crore in FY24. For the first half of FY25, ending September 30, 2024, the company achieved a net profit of Rs. 36.27 crore on a total income of Rs. 312.10 crore. Over the same three-year period, the company's average EPS stood at Rs. 3.29, with an average RoNW of 35.37%. The issue is priced at a P/BV of 5.74 based on its NAV of Rs. 24.40 as of September 30, 2024, and a P/BV of 3.76 based on the post-IPO NAV of Rs. 37.23 per share (at the upper price band)," added Bajaj Broking in an IPO note.
The shares of the company as per the recent trend is trading at a premium of Rs 91, signaling an estimated listing price of Rs 231 per share or 65 per cent higher over the IPO's upper price band. However, it is important to note that GMP is not the official listing price and may fluctuate based on the market sentiments.
The share allotment for the Standard Glass Lining IPO is expected to be finalised today. Investors will receive shares through a lottery system, with the entire process overseen by the registrar to ensure fairness.
Standard Glass Lining IPO Day 3 Live Updates: Key strength
The company possesses in-house capabilities to manufacture all the core specialized engineering equipment required in the active pharmaceutical ingredient (“API”) and fine chemical products manufacturing process.
Standard Glass Lining IPO Day 3 Live Updates: About SGLTL
The company's engineered solutions are used in processes across the pharmaceutical, chemical, food and beverage, biotechnology, and fertilizer sectors. The company customise their products based on the unique process requirements of their customers. They also provide turnkey automated equipment solutions, optimizing processes like vacuum distillation, solvent recovery, and gas dispersion.
Standard Glass Lining IPO Day 3 Live Updates: GMP soars 65%
Standard Glass Lining IPO is now commanding a GMP of 65%. The upward trajectory of the GMP indicates a strong listing for Standard Glass Lining. With the price band of Rs 140 and 65% GMP, the listing price is likely around Rs 231/ share.
Standard Glass Lining IPO Day 3 Live Updates: Key risks
The company has a heavy dependence on pharmaceuticals and
chemical sectors. It also has a risk from under-utilization of manufacturing capacity. Also, its dependence on Telangana facilities is subject to risks from disaster and political changes.
Standard Glass Lining IPO Day 3 Live Updates: Anchor investors
Standard Glass Lining Technology has raised Rs 123.02 crore from anchor investors ahead of its IPO. The company allocated 87,86,809 equity shares at Rs 140 each to these investors on January 3, 2025.
Notable foreign and domestic institutions that participated in the anchor round include Amansa Holdings, Clarus Capital, ICICI Prudential MF, Kotak Mahindra Trustee, Tata MF, Motilal Oswal MF, and the Massachusetts Institute of Technology, among others.
"Company is one of the top five specialised engineering equipment manufacturers for pharmaceutical and chemical sectors in India with products across entire value chain, company has strategically located manufacturing facilities with advanced technological capabilities & has long term relationships with marquee clientele across sectors with consistent track record of profitable growth. Hence Looking after all above, we recommend “Subscribe” on issue," said Hem Securities in an IPO note.
Standard Glass Lining IPO Day 3 Live Updates: Lead managers and registrars
The Standard Glass Lining IPO is being managed by two key players: IIFL Securities and Motilal Oswal Investment Advisors, who are serving as the book-running lead managers for the offering. Additionally, KFin Technologies Limited has been appointed as the registrar.
Standard Glass Lining IPO Day 3 Live Updates: Subscription figures
As of the latest subscription status, the Standard Glass Lining IPO has been subscribed 52.32 times so far on its third and final day. Breaking it down further, the retail segment has been subscribed 44.18 times, while the Qualified Institutional Buyers (QIB) category has seen a subscription of 4.72 times so far. The Non-Institutional Investors (NII) category as of now received a subscription rate of 134.77 times.
Standard Glass Lining IPO Day 3 Live Updates: 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. The company enjoys most preferred partner for glass lined equipment used by pharma, chemical sectors in India. The company marked steady growth in its top and bottom lines for the reported periods. Based on FY25 annualized earnings, the issue appears fully priced. Partial reduction of debt and other inorganic growth plans will increase its earnings going forward. Investors may park funds for medium to long term," said Bajaj Broking in an IPO note.
Standard Glass Lining IPO Day 3 Live Updates: Price band
The price band for the Standard Glass Lining IPO has been set in the range of Rs 133 to Rs 140 per share.
"At the upper price band of Rs.140, SGLTL 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. SGLTL’s healthy margins, consistent revenue growth robust growth outlook, a diverse product portfolio with a focus on customization, and inorganic growth plans support a "Subscribe" rating for the stock on a medium to longterm basis," said Geojit Securities in an IPO note.
Standard Glass Lining IPO Day 3 Live Updates: Objective of the issue
The company plans to use the net proceeds from the IPO for various purposes, including purchasing machinery and equipment, repaying part of its and its subsidiary S2 Engineering Industry outstanding loans, investing in S2 Engineering for its capital expenditure needs, and funding potential acquisitions or strategic investments. Additionally, a portion of the funds will be allocated for general corporate purposes.
Standard Glass Lining IPO Day 3 Live Updates: GMP update
As per the latest trends, the Standard Glass Lining IPO is generating significant buzz on its final day of bidding. As of the most recent update, the IPO is commanding a premium of Rs 96 in the grey market. This suggests that the stock is expected to list at Rs 236, a 68.57% gain over the issue price of Rs 140 per share.