IPO Details

Bidding Dates

05 Jan '25 - 07 Jan '25

Minimum Investment

₹14,980 / 1 Lot (107 Shares)

Price Range

₹133 - ₹140

Maximum Investment

₹1,94,740 / 13 Lot (1,391 Shares)

Retail Discount

Not Applicable

Issue Size

₹410.05 Cr

Investor category and sub category

Retail Individual Investors (RII)  |   Non-institutional Investors (NII)  |   Qualified Institutional Buyers (QIB)  |  

Standard Glass Lining IPO Important Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

Jan 5, 2025

IPO Closing Date

Jan 7, 2025

Basis of Allotment

Jan 8, 2025

Initiation of Refunds

Jan 9, 2025

IPO Listing Date

Jan 12, 2025

About Standard Glass Lining IPO

Standard Glass Lining IPO is a book-built issue of ₹410.05 crore, comprising a fresh issue of 1.50 crore shares worth ₹210.00 crore and an offer for sale of 1.43 crore shares totalling ₹200.05 crore. The IPO opens for subscription on January 6, 2025, and closes on January 8, 2025. The allotment is expected to be finalised on January 9, 2025, with the listing date tentatively set for January 13, 2025, on both NSE and BSE.

The IPO price band is ₹133 to ₹140 per share. The minimum application size is 107 shares, requiring a retail investment of ₹14,980. For sNII, the minimum investment is ₹2,09,720 (1,498 shares in 14 lots), while for bNII, it is ₹10,03,660 (7,169 shares in 67 lots).

IIFL Securities Ltd and Motilal Oswal Investment Advisors Limited are the lead managers, and KFin Technologies Limited is the registrar for the issue.

Industry Outlook

  1. India's glass-lined equipment market valued at ₹11.5 billion in FY2024, projected to grow at a 10.1% CAGR, reaching ₹18.6 billion by FY2028.
  2. Filters & Dryers market to grow from $1.4 billion in 2023 to $2.12 billion by 2028, with HLE Glascoat holding 35-40% market share.

Standard Glass Lining IPO Objectives 

The company plans to allocate the net proceeds from the issuance to the following purposes:

  1. Funding of capital expenditure requirements of the Company towards purchase of machinery and equipment.
  2. Repayment or prepayment, in full or in part, of all or a portion of certain outstanding borrowings availed by the Company and investment in our wholly owned Material Subsidiary, S2 Engineering Industry Private Limited.
  3. Investment in the wholly owned Material Subsidiary, S2 Engineering Industry Private Limited, for funding its capital expenditure requirements towards purchase of machinery and equipment;
  4. Funding inorganic growth through strategic investments and/or acquisitions.
  5. General corporate purposes.

About Standard Glass Lining Technology Limited 

Incorporated in September 2012, Standard Glass Lining Technology Limited specialises in manufacturing engineering equipment for the pharmaceutical and chemical sectors in India. The company manages the entire production process in-house and provides comprehensive turnkey solutions, including design, engineering, manufacturing, assembly, installation, and standard operating procedures.

The product portfolio includes Reaction Systems, Storage, Separation and Drying Systems, and Plant, Engineering and Services. The company manufactures specialised equipment using glass-lined materials, stainless steel, and nickel alloy.

The client base features leading pharmaceutical and chemical companies, including Aurobindo Pharma, Cadila Pharmaceuticals, Laurus Labs, and Natco Pharma. With eight manufacturing units in Hyderabad, Telangana, and sales offices across India, the company has a robust pan-India presence.

As of September 30, 2024, Standard Glass Lining Technology Limited employed 460 full-time staff and 731 contract labourers, reflecting its extensive operational scale and commitment to industry excellence.

How To Check the Allotment Status of the Standard Glass Lining IPO?

Steps to check IPO allotment status on Angel One’s app:

  1. Log in to the Angel One app.
  2. Go to the IPO Section and then to IPO Orders.
  3. Select the individual IPO that you had applied for and check the allotment status.
  4. Angel One will notify you of your IPO allotment status via push notification and email.

How To Apply for Standard Glass Lining IPO Online?

  1. Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
  2. Locate the IPO Section: Navigate to the 'IPO' section on the platform.
  3. Select IPO: Find and select the Standard Glass Lining IPO from the list of open IPOs.
  4. Enter the Lot Size: Specify the number of lots you want to bid for.
  5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
  6. Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.

Contact Details of Standard Glass Lining IPO 

Registered Office: D.12, Phase-1, IDA Jeedimetla, Hyderabad, Telangana 500055, India

Phone: + 040 3518 2204

E-mail: corporate@standardglr.com 

Standard Glass Lining IPO Reservation

Investor Category

Shares Offered

QIB Shares Offered

Not more than 50% of the Net Issue

Retail Shares Offered

Not less than 35% of the Net Issue

NII (HNI) Shares Offered

Not more than 15% of the Net Isssue

Standard Glass Lining IPO Lot Size

Application

Lots

Shares

Amount

Retail (Min)

1

107

₹14,980

Retail (Max)

13

1391

₹1,94,740

S-HNI (Min)

14

1,498

₹2,09,720

S-HNI (Max)

66

7,062

₹9,88,680

B-HNI (Min)

67

7,169

₹10,03,660

Standard Glass Lining IPO Promoter Holding

The Promoters of the Company are Nageswara Rao Kandula, Kandula Krishna Veni, Kandula Ramakrishna, Venkata Mohana Rao Katragadda, Kudaravalli Punna Rao and M/s S2 Engineering Services.

Share Holding Pre-Issue

72.49%

Share Holding Post Issue

  

Key Performance Indicators for Standard Glass Lining IPO

As of March 31, 2024, the market capitalisation of Standard Glass Lining's IPO is ₹2,792.88 crore. Here are the KPIs of Standard Glass Lining:

KPI

Value

ROE (%)

20.74%

ROCE (%)

25.49%

Debt to Equity Ratio (x)

0.32

RoNW (%)

20.74%

PAT Margin (%)

10.92%

Price to Book Value (x)

5.70

Price Metrics

Metric

Pre-IPO

Post-IPO

P/E (x)

3.25

3.64

EPS (₹)

43.04

38.5

Standard Glass Lining IPO Prospectus

Standard Glass Lining IPO Registrar and Lead Managers

Standard Glass Lining IPO Lead Managers

  • IIFL Securities Ltd 
  • Motilal Oswal Investment Advisors Limited

Registrar for Standard Glass Lining IPO

Kfin Technologies Limited

  • Contact Number: 04067162222, 04079611000
  • Email Address: sgltl.ipo@kfintech.com

Website: Standard Glass Lining IPO Registrar

Financial Performance of Standard Glass Lining Technology Limited

Particulars For period ended Septmeber 30, 2024 Year ending on March 31, 2024 Year ending on March 31, 2023 Year ending on March 31, 2022
Revenue from Operation (in ₹ lakh) 3,071.95 5,436.69 4,975.88 2,401.87
Profit After Tax (PAT) (in ₹ lakh) 362.68 600.11 534.24 251.45
Total Borrowings (in ₹ lakh) 1,737.95 1,293.24 819.62 698.08
Net Worth (in ₹ lakh) 4,478.04 4,099.24 1,566.67 699.06
Return on Capital Employed (%) 10.81% 25.49% 43.43% 42.03%
Return on Equity (%) 8.06% 20.74% 47.56% 54.89%
Debt to Equity Ratio (x) 0.39 0.32 0.53 1.01
Earning Per Share (EPS)-in absolute ₹ 1.89 3.52 3.49 2.22

Know before investing

Strengths

6

  1. Top 5 specialised engineering equipment manufacturer in India, FY2024.

  2. Comprehensive product portfolio of 65+ designs across industries.

  3. 8 manufacturing facilities produce 300-350 equipment monthly.

  4. Collaborations with GL Hakko and Asahi enhance competitive edge.

  5. Exclusive glass-lined shell and tube heat exchanger manufacturer, India.

  6. 460 employees and 731 contract labourers ensure operational excellence.

Risks

6

  1. All manufacturing facilities located in Telangana, vulnerable to regional risks.

  2. Dependent on skilled labour; 12.87% attrition rate in 2024.

  3. Relies on top 10 suppliers for 52.61% raw materials.

  4. 88.20% revenue dependent on pharmaceuticals and chemicals sectors.

  5. Negative cash flow from operations: ₹(193.39) million in 2024.

  6. No long-term contracts with customers or key suppliers.

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Standard Glass Lining Technology Limited Peer Details Comparison

Company Name EPS (Basic) NAV (per share) (₹) P/E (x) RoNW (%)
Standard Glass Lining Technology Limited 3.52 24.55 20.74
Gmm Pfaudler Ltd. 39.79 215.22 30.64 20.23
HLE Glascoat Limited 6.52 61.06 56.54 7.99
Thermax Ltd. 57.28 394.1 81.24 15.53
Praj Industries Ltd. 15.42 69.36 52.54 24.09

Standard Glass Lining IPO FAQs

What is the Standard Glass Lining IPO?

Standard Glass Lining IPO is a book-built issue IPO. It will be open from January 6, 2025, to January 8, 2025.

When will Standard Glass Lining IPO be allotted?

The Basis of Allotment will happen on Thursday, January 9, 2025.

When will Standard Glass Lining IPO open for subscription?

The IPO subscription window will open on January 6, 2025.

What minimum lot size can retail investors subscribe to?

The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 107 shares.

When will Standard Glass Lining Technology Limited list on exchanges?

The listing date for Standard Glass Lining Technology Limited is Monday, January 13, 2025.

What is the issue size of the Standard Glass Lining IPO?

The issue size of the Standard Glass Lining IPO is up to ₹410.05 crore, with a fresh issue of ₹210.00 crore and an offer for sale of ₹200.05 crore.

What are the open and close dates of the Standard Glass Lining IPO?

The open and close dates for Standard Glass Lining IPO are from January 6, 2025, to January 8, 2025.

What would be the listing gains on the Standard Glass Lining IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.

How to increase your chances of getting the Standard Glass Lining IPO allotment?

1. Multiple Submissions: Use different Demat accounts to make multiple applications.
2. Higher Price Band Bidding: Opt for bidding at the cut-off price or higher price band.
3. Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.

How do I approve the UPI mandate request for thStandard Glass Lining IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of Standard Glass Lining Technology Limited using one PAN?

You can submit only one application using your PAN card.

How to read Standard Glass Lining Technology Limited's financial statements?

To read Standard Glass Lining’s financial statements, download the IPO’s RHP document.

What is 'pre-apply' for Standard Glass Lining Technology Limited IPO?

Pre-apply allows investors to apply for the Standard Glass Lining IPO two days before the subscription period opens, ensuring an early submission of your application.

If I pre-apply for the Standard Glass Lining Technology Limited IPO, when will my order get placed?

Your order will be placed when the IPO opens for bidding, and a UPI request will follow within 24 hours.

When will I know if my Standard Glass Lining Technology Limited IPO order is placed?

You will receive a notification once your order is successfully placed with the exchange after the bidding starts.

Who is the registrar of Standard Glass Lining IPO?

Kfin Technologies Limited is the registrar responsible for managing the IPO allotment process and handling investor queries.

Where is the Standard Glass Lining IPO getting listed?

Standard Glass Lining Technology Limited IPO is proposed to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).