Standard Glass Lining Technology marked a strong start in its IPO on the NSE, debuting at ₹172 on Monday, January 13. This opening price is a 22.8% increase over the set issue price of ₹140, showcasing robust market confidence in the company.
Standard Glass Lining Technology IPO received a robust Day 3 response with Qualified Institutional Buyers subscribing 331.60 times, Non-Institutional Investors at 268.50 times, and Retail Individual Investors at 64.99 times, culminating in an overall subscription of 183.18 times.
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Standard Glass Lining Technology Limited founded in September 2012, caters to the pharmaceutical and chemical industries in India, providing in-house turnkey solutions from design to installation. They manufacture diverse equipment like reaction and storage systems, and drying equipment, using materials such as glass-lined, stainless steel, and nickel alloy.
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Standard Glass Lining Technology plans to use IPO funds for machinery purchases (INR 10 crores), debt repayment (INR 60 crores), investing INR 70 crores in its subsidiary S2 Engineering, INR 20 crores for strategic acquisitions, and the rest for general corporate purposes.
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