Standard Glass Lining IPO allotment is expected to take place today. Make sure to stay updated on the status, listing date, and other important details
Standard Glass Lining IPO allotment – The share allotment of Standard Glass Lining IPO is likely to be finalised later today or tomorrow morning. Investors will get shares on a lottery basis and the whole process was supervised by the registrar. On the allotment date, investors get to know about the number of shares allotted to them as against the bids made.
They can check the allotment status through the BSE or by visiting the registrar’s website. Here’s how you can check the status on BSE or even on the registrar’s website.
Firstly, here’s how you can know the status on BSE
Step 1: Visit the BSE Website (https://www.bseindia.com/investors/appli_check.aspx)
Step 2: Please select the issue name, that is the company’s name in the drop down.
Step 3: Enter the application number or PAN number to check the allotment status.
To check the status of Standard Glass Lining IPO allotment through the registrar, which is Kfin Technologies in this case, kindly follow the below steps.
Step 1: Visit the Kfin Technologies website (https://ipostatus.kfintech.com/)
Step 2: Select Standard Glass Lining IPO
Step 3: Enter the PAN details and click search to know the status.
Standard Glass Lining GMP
The company’s shares are set to be listed on the exchanges on January 13. Market sources indicate that Standard Glass Lining is currently trading with a Grey Market Premium (GMP) of Rs 91, representing a 65% premium over the issue price.
Standard Glass Lining IPO Subscription
The IPO of Standard Glass Lining garnered significant interest from investors, with an overall subscription rate of 183 times at closing.
The proceeds from the fresh issue will be allocated towards funding the company’s capital expenditure requirements for the acquisition of machinery and equipment, debt repayment, investment in its wholly-owned material subsidiary S2 Engineering Industry, strategic investments for inorganic growth, and general corporate purposes.
Standard Glass Lining is among the top five specialized engineering equipment manufacturers for the pharmaceutical and chemical sectors in India, based on revenue in FY24, with comprehensive in-house capabilities spanning the entire value chain.
The company’s capabilities encompass design, engineering, manufacturing, assembly, installation, and commissioning solutions, as well as the establishment of standard operating procedures for pharmaceutical and chemical manufacturers on a turnkey basis.
The Glass-Lined Equipment (GLE) industry is poised for significant growth, driven by various factors. GLE safeguards the contained media from exposure to water, chemicals, alkalis, and corrosion, creating an ideal environment for media storage. GLE is resistant to contamination and can operate in diverse environments.
In FY24, the company’s revenue from operations increased by 9% YoY to Rs 544 crore, while profit after tax rose by 13% to Rs 60 crore. For the six months ending in September 2024, revenues totaled Rs 307 crore, with profits reaching Rs 36 crore.
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Disclaimer: This blog post is for informational purposes only and should not be considered financial advice. Investors should conduct thorough research and consult with a qualified financial advisor before making any investment decisions.