Standard Glass Lining Technology Limited IPO is a fully book-built issue and the total IPO size is ₹410.05 crores. The issue is a combination of a fresh issue of 1.50 crore shares aggregating to ₹210.00 crores and an offer for sale of 1.43 crore shares aggregating to ₹200.05 crores.
The subscription period for the Standard Glass Lining Technology Limited IPO started on January 06, 2025, and ended on January 08, 2025.
The allotment process was finalized on January 09, 2025. The Standard Glass Lining Technology Limited IPO was listed on BSE and NSE on January 13, 2025.
The price band for the Standard Glass Lining Technology Limited IPO is set at ₹140 per share.
Registrar for this IPO is KFin Technologies Limited and the lead managers for Standard Glass Lining Technology Limited IPO are IIFL Capital Services Limited, Motilal Oswal Investment Advisors Limited.
IPO Schedule
| IPO Open Date | Monday, 06 Jan, 2025 |
|---|---|
| IPO Close Date | Wednesday, 08 Jan, 2025 |
| IPO Allotment Date | Thursday, 09 Jan, 2025 |
| Refund Initiation | Friday, 10 Jan, 2025 |
| Share credit in Demat | Friday, 10 Jan, 2025 |
| Listing Date | Monday, 13 Jan, 2025 |
Key Details
| Price Band | ₹140 Per Share |
|---|---|
| Lot Size | 107 Shares |
| Face Value | ₹10 Per Equity Share |
| Total Issue Size | ₹410.05 Crores |
| Fresh Issue | ₹210.00 Crores |
| OFS Issue | ₹200.05 Crores |
| Issue Type | Fresh Issue and Offer for Sale |
| Listing At | BSE, NSE |
Share Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB | 50% |
| Retail | 35% |
| NII/HNI | 15% |
About Standard Glass Lining Technology Company
Standard Glass Lining Technology Limited (SGLT) is a leading specialized engineering equipment manufacturer for the pharmaceutical and chemical sectors in India. Ranked among the top 3 in revenue in FY24, SGLT offers end-to-end solutions, leveraging engineering expertise and advanced manufacturing capabilities across eight facilities in Telangana.
SGLT's commitment to operational efficiency and continuous investment in infrastructure have fueled remarkable growth. The company achieved a 107% revenue surge from ₹240.18 million in FY22 to ₹497.58 million in FY23. In FY24, revenue reached ₹543.99 million, a 9.3% increase year-over-year. SGLT is recognized as the fastest-growing company in its industry over the past three fiscal years.
SGLT distinguishes itself through its ability to adapt to industry trends and its mission to expand its global market share. They offer a comprehensive product portfolio, serving 30 out of 80 pharmaceutical and chemical companies in the NSE 500 Index (as of June 30, 2024). Strategic partnerships, like those with Asahi Glassplant Inc. and HHV Pumps, further strengthen SGLT's market position.
Standard Glass Lining Technology Financial Details
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 756.52 | 665.38 | 347.79 | 298.11 |
| Revenue | 312.1 | 549.68 | 500.08 | 241.5 |
| Profit After Tax | 36.27 | 60.01 | 53.42 | 25.15 |
| Net Worth | 447.8 | 409.92 | 156.67 | 69.91 |
| Reserves and Surplus | 261.58 | 389.18 | 139.94 | 53.66 |
| Total Borrowing | 173.8 | 129.32 | 81.96 | 69.81 |
₹ In Crore
Key Performance Indicator
| Basic EPS (in ₹) | Return on Net Worth (RoNW) | Net Asset Value (NAV) | Debt-Equity Ratio | Return on Equity (ROE) | Return on Capital Employed (ROCE) |
|---|---|---|---|---|---|
| 3.52 | 20.74% | 24.55 |
Offer Objectives
This document outlines the details of an upcoming IPO. A fresh issue of equity shares aggregating up to ₹21 crore is planned, alongside an offer for sale of up to 14,289,367 equity shares. The company will not receive any proceeds from the Offer for Sale.
The net proceeds from the fresh issue are intended to be utilized for several key purposes:
- Capital Expenditure: ₹10 crore towards purchase of machinery and equipment for the company.
- Debt Repayment: ₹130 crore for repayment or prepayment of outstanding borrowings of the company and its material subsidiary, S2 Engineering Industry Private Limited.
- Investment in Subsidiary: ₹30 crore invested into S2 Engineering Industry Private Limited for capital expenditure.
- Inorganic Growth: ₹20 crore will be utilized to pursue inorganic growth strategies through strategic investments and acquisitions.
- General Corporate Purposes: The cumulative amount to be utilized towards funding of inorganic growth through strategic investments and/or acquisitions and general corporate purposes shall not exceed 35% of the Gross Proceeds. Further, the amount utilized for our object of ‘Funding in organic growth through strategic investments and/or acquisitions’ shall not exceed 25% of the Gross Proceeds. The amount to be spent towards general corporate purposes will be finalised upon determination of the Offer Price and will be updated in the Prospectus prior to filing with the RoC. The amount to be utilized for general corporate purposes shall not exceed 25% of the Gross Proceeds.
A Pre-IPO placement of ₹4 crore was completed and the amount has been reduced from the Fresh Issue. The company has implemented an Employee Stock Option Scheme (ESOP) to incentivize and retain key employees. No equity shares are pledged or otherwise encumbered.
Company Details
Address:
D.12, Phase -1, IDA Jeedimetla,
Hyderabad, Telangana - 500055, India
Phone: + 040 3518 2204
Email: [email protected]
Website: http://www.standardglr.com
IPO Registrar Details
KFin Technologies Limited
Phone: +91 40 6716 2222
Email: [email protected]
Website: http://www.kfintech.com
Offer Prospectus & Documents
Lead Managers
- IIFL Capital Services Limited
- Motilal Oswal Investment Advisors Limited
