Standard Glass Lining IPO Opens For Subscription, Check GMP Of The Issue Today

The firm’s maiden offering has been priced in the range of Rs 133 to Rs 140 per equity share. The company generated Rs 123.02 crore from the anchor investors ahead of its subscription window.

Investors can apply for the issue in a minimum lot of 107 shares and in multiples of thereafter. The allocation for the listing will be completed on January 9, 2025.

Source : Shareindia

Standard Glass Lining Technology Limited opened the subscription window for the public on January 6, 2025. The firm’s initial public offering (IPO) began accepting bids from investors on Monday and will remain open until January 8, 2025. 

The firm’s maiden offering has been priced in the range of Rs 133 to Rs 140 per equity share. The company generated Rs 123.02 crore from the anchor investors ahead of its subscription window.

The pharma engineering equipment maker plans to raise Rs 410.05 crore from the maiden listing. The IPO comprises a fresh issue worth up to Rs 210 crore and an offer-for-sale (OFS) of up to 1.42 crore shares coming up to Rs 200.05 crore.

Investors can apply for the issue in a minimum lot of 107 shares and in multiples of thereafter. The allocation for the listing will be completed on January 9, 2025.

KFin Technologies has been named the official registrar of the issue. The lead managers for the listing include Motilal Oswal Investment Advisors and IIFL Securities. The shares of Standard Glass Lining will make their debut in the stock markets on January 13, 2025.

Grey Market Premium

The issue received a good response from investors and around 11 AM, the listing was subscribed more than 2 times, data from IPOJi showed. The listing also traded at a premium of 67.14 per cent against the issue price in the grey market.

The data showed that the grey market price of the stock stood at a premium of Rs 94-97 per share. The grey market premium indicates a bumper listing ahead for the stock and the optimism expressed by investors towards the company’s debut.

The grey market runs parallel to the official stock market and allows traders to place bets on an issue ahead of its official debut on the stock exchanges.

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