Within hours of its launch, Standard Glass Lining's initial public offering (IPO) was fully subscribed, indicating high demand on the first day of subscriptions on Monday, January 6.
Consolidated bid data on the National Stock Exchange (NSE) shows that over 4.39 crore shares were applied for by investors, while 2.08 crore shares were up for bid.
Subscription across all categories
With bids for more than 2.23 crore shares, the retail portion of the IPO was booked 2.41 times, while 20.50 lakh shares were set aside for the retail individual investors (RIIs).
Non-institutional investors (NIIs) reserved 3.16 times as many shares in the company's initial public offering (IPO). Of the 45.11 lakh shares reserved for the NIIs more than 1.42 crore shares were applied for by them.
The Qualified Institutional Buyers (QIBs) category was allocated 57.90 lakh shares; however, only 6,634 shares, amounting to only 0.11 per cent of the issue, were bid on.
IPO size and structure
The Rs 410.05 crore Standard Glass Lining IPO is a book-built offering. The issue is a combination of a 1.43 crore share sale offering for Rs 200.05 crores and a new issue of 1.50 crore shares totaling Rs 210.00 crores.
Price band and minimum bid
Standard Glass Lining IPO price band is set at Rs 133 to Rs 140 per share. The minimum lot size for an application is 107. The minimum amount of investment required by retail investors is Rs 14,980.
The minimum lot size investment for sNII is 14 lots comprising of 1,498 shares amounting to Rs 2,09,720, and for bNII, it is 67 lots comprising of 7,169 shares amounting to Rs 10,03,660.
Subscription and listing dates
The subscription period for the Standard Glass Lining IPO bidding began on January 6, 2025, and it will end on January 8, 2025. On Thursday, January 9, 2025, the Standard Glass Lining IPO allotment is anticipated to be finalised.
The Standard Glass Lining IPO is scheduled to list on the NSE and BSE on Monday, January 13, 2025.
GMP (grey market price)
The grey market premium (GMP) of Rs 97 indicates that the shares of Standard glass IPO are currently trading at their issue price of Rs 140 with a 69.29 per cent premium. implying a listing price of Rs 237 per share.
Company financials
The standard glass lining PAT (profit after tax), stood at Rs 53.42 crore in FY23, which jumped 12.33 per cent to Rs 60.01 crore in fiscal year 2024. In FY23 copany reported a revenue of Rs 500.08 crore compared to Rs 549.68 crore in the FY24; showing 9.91 per cent jump YoY (year on year).
