Standard Glass Lining Technology IPO : The IPO of Standard Glass Lining Technology, a special engineering equipment manufacturing company, opened on January 6 and will close on January 8. There was a craze seen in the gray market today regarding the company’s IPO. The issue size of the company’s IPO is Rs 410.05 crore. This includes fresh issue of Rs 210 crore worth Rs 1.50 crore and offer for sale (OFS) of 1.43 crore shares worth Rs 200.05 crore. Whereas the price band per share was fixed at Rs 133-140. Its minimum lot size is 107 shares.
Company’s IPO is getting strong response
As soon as bidding started today, there were more than 13 times bids for the IPO. According to the data, investors placed bids for 72,58,72,378 equity shares or 34 times more shares as against 2,08,29,567 equity shares. The company’s IPO received huge bids in all categories. The stake of retail investors was subscribed 33 times, while for non-institutional investors it was 81 times. It got 4.6 times subscription in QBI category.
This company was started in 2012
The foundation of standard glass lining technology was laid in the year 2012. This Hyderabad based company is a manufacturer of engineering equipment in the pharmaceutical and chemical sectors. Its position in the gray market remains strong as there has been tremendous bidding for the issue. Last time the price per share of the company in the unofficial market was Rs 90-95, due to which it got 65-67 percent more response from investors at the time of listing. Its GMP was around Rs 95-100 on the first day of bidding.
Brokerage firms are giving positive response to the issue of this company and considering its track record and good financial performance, they are advising to subscribe to it as much as possible.
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