Standard Glass Lining IPO Allotment : Check Details
The allotment of shares for the Standard Glass Lining Technology IPO is likely to be finalized today, Thursday, January 9, 2025. The public offering, which closed for subscription on Wednesday, January 8, 2025, received an overwhelming response from investors, with an oversubscription of 183.18 times.
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How to Check Standard Glass Lining IPO Allotment Status :
Once the allotment is finalized, investors can check their application status on the official websites of BSE, NSE, or Kfin Technologies, the registrar for the issue.
Here are the direct links:
BSE: https://www.bseindia.com/investors/appli_check.aspx
Kfin Technologies: https://ipostatus.kfintech.com/
NSE: https://www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
Subscription Status:
The public offering of Rs 410.05 crore, offered at a price band of Rs 133-140 with a lot size of 107 shares, received bids for over 381.56 crore shares against the 2.08 crore shares on offer. This translates to an oversubscription of 183.18 times.
Strong Demand from Institutional Investors :
The IPO witnessed strong demand from all investor categories. Qualified Institutional Buyers (QIBs) subscribed to their quota 331.60 times, followed by Non-Institutional Investors (NIIs) at 268.50 times and Retail Individual Investors (RIIs) at 64.99 times.
Standard Glass Lining IPO Grey Market Premium (GMP) :
As per sources tracking grey market activities, the unlisted shares of Standard Glass Lining were trading at Rs 231, reflecting a GMP of Rs 91 or 65% over the upper end of the IPO price band of Rs 140. It’s important to remember that the grey market is unregulated, and GMP should not be considered a reliable indicator of a company’s post-listing performance.
Listing Date :
Shares of Standard Glass Lining are expected to list on the BSE and NSE on Monday, January 13, 2025. If current grey market trends hold, the stock may list around Rs 231, offering a return of over 65% over the issue price. However, this is just an estimate, and the actual listing price may vary.
About Standard Glass Lining Technology :
Standard Glass Lining Technology is a leading manufacturer of engineering equipment for the pharmaceutical and chemical sectors in India.
The company offers turnkey solutions and manufactures specialized equipment using glass-lined materials, stainless steel, and nickel alloy. Its product portfolio includes reaction systems, storage systems, and plant engineering services. The company has eight manufacturing units in Hyderabad and sales offices across India. As of September 30, 2024, Standard Glass Lining Technology employed 460 full-time staff and 731 contract workers.
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