Standard Engineering Technology Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹140
Per ShareLot Size
107 Shares
Minimum Investment
₹14,980
Issue Size
₹410.05 Cr
Face Value
₹10
Per ShareIPO Type
Book Building
Retail Quota
35%
QIB Quota
50%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Standard Engineering Technology Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
72.49%
Promoter Holding (Post-Issue)
60.68%
Issue Type
Book Building
ISIN
INE0M4D01010
About the Company
We are one of the top five specialised engineering equipment manufacturer for pharmaceutical and chemical sectors in India, in terms of revenue in Fiscal 2024, with in house capabilities across the entire value chain. Our capabilities include design, engineering, manufacturing, assembly, installation and commissioning solutions as well as establishing standard operating procedures for pharmaceutical and chemical manufacturers on a turnkey basis.
Industry Overview
The Glass-Lined Equipment (GLE) industry is poised for significant growth, driven by multiple factors. GLE protects the contained media from exposure to water, other chemicals, alkalis, and corrosion, providing a desirable environment for storing the media. GLE is resistant to contamination and capable of operating in a variety of environments. Glass lining technology is extensively used in various industries for its corrosion resistance and durability. The market has grown at a CAGR of 8.6% during CY 2021 to CY 2023 and is expected to grow at a CAGR of 10.1% and generate US$3,400.0 million in revenue during the forecast period.
Company History
Our Company was incorporated as "Standard Glass Lining Technology Private Limited" at Hyderabad, as a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated September 6, 2012, issued by the Registrar of Companies, Andhra Pradesh. Subsequently, upon the conversion of our Company into a public limited company, pursuant to a special resolution passed by our Shareholders on June 4, 2022, the name of our Company was changed to "Standard Glass Lining Technology Limited" and a fresh certificate of incorporation dated, June 17, 2022, was issued by the RoC.
Products & Services
- Standard Glass Lining Technology Limited is one of the top five specialised engineering equipment manufacturer for pharmaceutical and chemical sectors in India.
Growth Strategy
- Continue to expand and improve our existing product portfolio and enter into additional end-user industries.
- Expand our capacity by increasing the capabilities of our existing manufacturing plants as well as set up new manufacturing plants.
- Capitalise on increasing demand from international markets to grow our exports.
- Grow inorganically through strategic acquisitions and alliances.
Customer Base
Wholesaler and Retailer
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY24 to FY26.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offering of 29,289,367 equity shares of face value of Rs. 10 each (the "Equity Shares") of Standard Glass Lining Technology Limited ("Company" or "Issuer") for cash at a price of Rs. 140 per equity share (the "Offer Price") aggregating to Rs. 410.05 crores (the "Offer") comprising a fresh issue of 15,000,000 equity shares of face value Rs. 10 each aggregating to Rs. 210.00 crores (the "Fresh Issue") and an offer for sale of 14,289,367 equity shares of face value Rs. 10 each aggregating Rs. 200.05 crores (the "Offer for Sale"), comprising an offer for sale of 11,316,367 equity shares of face value Rs. 10 each aggregating to Rs. 158.43 crores by the promoter selling shareholders (as defined hereinafter), 1,909,000 equity shares of face value Rs. 10 each aggregating to Rs. 26.73 crores by the promoter group selling shareholders and 1,064,000 equity shares of face value Rs. 10 each aggregating to Rs. 14.90 crores by the other selling shareholders (as defined hereinafter) (together, the "Selling Shareholders", and such equity shares, the "Offered Shares"). The face value of the equity shares is Rs. 10 each and the offer price is 14 times the face value of the equity shares of face value Rs. 10 each.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- One of the top five specialised engineering equipment manufacturers for pharmaceutical and chemical sectors in India with products across entire value chain.
- Customized and innovative product offering across the entire pharmaceutical and chemical manufacturing value chain.
- Strategically located manufacturing facilities with advanced technological capabilities.
- Long term relationships with marquee clientele across sectors.
- Consistent track record of profitable growth.
- The company is dependent on its manufacturing facilities, all of which are situated in Telangana, India. The company is subject to risks in relation to its manufacturing process including accidents and natural disasters and also risks arising from changes in the economic or political conditions of Telangana, India which in turn will interfere with its operations and could have an adverse effect on the company business, results of operations and financial condition.
- The company business is dependent on the availability and retainment of skilled labour and workforce, and if its unable to hire and engage the appropriate personnel, the company's business, results of operations and financial condition shall be adversely affected.
- The company is dependent on a limited number of suppliers for its key raw materials such as stainless steel, carbon/ mild steel, nickel alloy, forgings, castings, chemicals and polytetra fluoroethylene powder. The loss of one or more of these suppliers could adversely impact its manufacturing processes and supply timelines, in turn adversely impacting its ability to comply with delivery schedules agreed with clients resulting in impact on its financial condition and results of operations.
- Majority of its customers operate in the pharmaceuticals and chemical sectors. In each of the last three Fiscals and the six months period ended September 30, 2024, more than 88.20% of its revenue from operations were derived from the pharmaceutical and chemical sectors, combined. Factors that adversely affect these sectors or capital expenditure by companies within these sectors may adversely affect its business, results of operations and financial condition.
- The company has witnessed negative cash flow from operating activities in the past. Any negative cash flows in the future would adversely affect its cash flow requirements, which may adversely affect the company ability to operate its business and the company financial condition.