Standard Glass Lining Shares Listed with 26% Premium on BSE

On January 13, 2025, Standard Glass Lining shares made a strong debut listing at ₹172 on the NSE, reflecting a 22.8% premium over its issue price of ₹140. On the BSE, it opened at ₹176, marking a 25.71% increase from the issue price.

Standard Glass Lining IPO Details

The ₹410 crore Standard Glass Lining IPO was opened for subscription from January 6 to January 8, with a price band set between ₹133 and ₹140 per share.

The IPO saw exceptional demand, with bids exceeding 185.48 times the shares offered. A total of 380.27 crore shares were bid for, against the 2.05 crore shares available. The retail segment was subscribed 65.71 times, while the non-institutional investor (NII) category saw a subscription of 275.21 times. The Qualified Institutional Buyers (QIB) segment was oversubscribed 327.76 times during the three-day bidding period.

Use of IPO Proceeds

The proceeds from the IPO will be used for various strategic purposes, including capital expenditure for acquiring machinery and equipment to improve operational efficiency. Additionally, part of the funds will be used to repay or prepay certain outstanding borrowings, including those of the company’s wholly owned subsidiary, S2 Engineering Industry Private Limited, to settle financial liabilities with banks and financial institutions.

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