Standard Glass Lining IPO, the first mainboard offer of 2025, fully subscribed within an hour on opening day

Standard Glass Lining IPO, the first mainboard initial public offer of 2025, was fully subscribed within an hour after opening for subscription on Monday, January 6.

The issue was subscribed 4.24 times until 11:30 am. According to NSE data, it received bids for 8,83,10,738 shares against 2,08,29,567 shares on offer.

Retail investors subscribed their portion 5.69 times, while non-institutional investors (NIIs) quota was booked 6.29 times.

The initial share sale, with a price band of ₹133 to ₹140 per share, will end on January 8.

The ₹410.05 crore IPO is a mix of ₹210 crore worth of new equity shares and an offer-for-sale of 1.43 crore shares. Under the OFS, S2 Engineering Services, Standard Holdings, Venkata Siva Prasad Katragadda, Kandula Ramakrishna, Nageswara Rao Kandula, Kandula Krishna Veni and Katragadda Venkata Ramani will divest their stake.

The proceeds from the fresh issue will be used to invest in a subsidiary, clear debt, grow inorganically, purchase equipment, and for corporate general purposes.

Standard Glass Lining IPO lot size

Retail investors can apply for at least 107 shares, needing an investment of ₹14,980.

The company has reserved 35% of the net issue for retail investors, 50% for qualified institutional buyers and the remaining 15% for non-institutional investors.

Standard Glass secures ₹123 crore from anchor investors

Before the IPO, Standard Glass Lining Technology received ₹123 crore in the anchor round from investors, including ICICI Prudential Mutual Fund (MF), Tata MF, Kotak MF, ITI MF, Motilal Oswal MF, Kotak Infinity Fund - Class AC, 3P Investment Managers, Amansa Holdings, Clarus Capital and Massachusetts Institute of Technology.

According to the circular on the BSE website, the company allotted 87.86 lakh shares to ten entities at the upper price band of ₹140 per equity share, taking the transaction size to ₹123.01 crore.

Standard Glass Lining IPO allotment and listing date

• Subscription period: January 6 to January 8
• Basis of Allotment: January 9
• Refund initiation: January 10
• Demat transfer: January 10
• Listing on the BSE and the NSE: January 13

About Standard Glass Lining

Its clients include Suven Pharmaceuticals, Cadila Pharmaceutical, Macleods Pharmaceuticals, Piramal Pharma, Aurobindo Pharma and Granules India Ltd.