Standard Glass Lining Technology Limited is set to make waves with its IPO opening on January 6, 2025. A key player in the engineering equipment sector for pharmaceuticals and chemicals, the company is raising funds to fuel its growth and reduce debt. If you’re considering investing, here’s a complete breakdown of the IPO, its financials, and future prospects.
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History of Standard Glass Lining Technology Ltd
Established in September 2012, Standard Glass Lining Technology Limited has grown into one of India’s leading manufacturers of specialised engineering equipment. The company serves the pharmaceutical and chemical industries, offering end-to-end solutions from design to installation.
With eight manufacturing units in Hyderabad and sales offices across major cities, Standard Glass Lining has built a strong reputation, working with clients like Aurobindo Pharma, Cadila Pharmaceuticals, and Natco Pharma.
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Why is Standard Glass Lining going for an IPO?
The company plans to utilise the proceeds from the IPO to:
- Fund Capital Expenditure – Purchase of machinery and equipment.
- Debt Reduction – Repayment of outstanding borrowings.
- Subsidiary Investment – Capital expenditure and debt repayment for S2 Engineering Industry Private Limited.
- Strategic Acquisitions – Funding inorganic growth through investments and acquisitions.
- General Corporate Purposes – Supporting day-to-day operational needs.
Key details of Standard Glass Lining IPO
The Standard Glass Lining IPO will open for subscription from January 6, 2025, to January 8, 2025. Investors can expect the allotment to be finalised by January 9, 2025, with the listing tentatively set for January 13, 2025, on both NSE and BSE.
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Standard Glass Lining IPO Details
| Details | Values |
| IPO Date | January 6, 2025 – January 8, 2025 |
| Listing Date | January 13, 2025 (tentative) |
| Price Band | ₹133 to ₹140 per share |
| Lot Size | 107 Shares |
| Total Issue Size | ₹410.05 crore |
| Fresh Issue | ₹210 crore (1.50 crore shares) |
| Offer for Sale (OFS) | ₹200.05 crore (1.43 crore shares) |
| Face Value | ₹10 per share |
| Listing | NSE, BSE |
| Lead Managers | IIFL Securities, Motilal Oswal |
| Registrar | Kfin Technologies Limited |
Key dates:
| Event | Date |
| IPO Open Date | January 6, 2025 |
| IPO Close Date | January 8, 2025 |
| Basis of Allotment | January 9, 2025 |
| Refund Initiation | January 10, 2025 |
| Credit of Shares to Demat | January 10, 2025 |
| Listing Date (Tentative) | January 13, 2025 |
IPO reservation breakdown
| Investor Category | Shares Offered |
| QIB | Not more than 50% of the Net Issue |
| Retail | Not less than 35% of the Net Issue |
| NII (HNI) | Not more than 15% of the Net Issue |
The IPO is led by IIFL Securities Ltd and Motilal Oswal Investment Advisors Limited, with Kfin Technologies Limited acting as the registrar.
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Standard Glass Lining’s financial health and performance
The company’s financials paint a promising picture, showcasing consistent growth in revenue and profitability. Between FY23 and FY24, revenue increased by 10%, while profit after tax (PAT) rose by 12%.
Financial snapshot:
| Metric | FY22 | FY23 | FY24 | H1 FY25 |
| Revenue (₹ Cr) | 241.5 | 500.08 | 549.68 | 312.1 |
| Profit After Tax (₹ Cr) | 25.15 | 53.42 | 60.01 | 36.27 |
| Net Worth (₹ Cr) | 69.91 | 156.67 | 409.92 | 447.8 |
| Total Borrowings (₹ Cr) | 69.81 | 81.96 | 129.32 | 173.8 |
Key Performance Indicators
| KPI | Values |
| ROE (Return on Equity) | 20.74% |
| ROCE (Return on Capital Employed) | 25.49% |
| Debt/Equity Ratio | 0.32 |
| PAT Margin | 10.92% |
| Price to Book Value | 5.7 |
Fund Utilisation Plan
| Purpose | Allocation (₹ crore) |
| Capital Expenditure (Machinery) | 10 |
| Debt Repayment | 130 |
| Subsidiary Investment | 30 |
| Strategic Acquisitions | 20 |
| General Corporate Purposes | Remaining |
Standard Glass Lining’s GMP and investor sentiment
As of January 3, 2025, the Standard Glass Lining IPO GMP stands at ₹85 per share, suggesting a listing price of ₹226 per share — a 61.43% premium over the upper issue price of ₹140.
This bullish trend in the grey market reflects strong demand and positive sentiment among investors, reinforcing expectations of a successful listing.
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Why Should You Invest in Standard Glass Lining IPO?
Advantages:
- Industry Leader – One of the top five manufacturers in the pharmaceutical and chemical sectors.
- Strong Client Base – Long-term relationships with major clients like Aurobindo Pharma and Cadila Pharmaceuticals.
- In-House Capabilities – End-to-end production enhances efficiency and product quality.
- Growth Potential – Consistent revenue and profit growth year-over-year.
Disadvantages:
- Geographic Concentration – All manufacturing units are located in Hyderabad, posing an operational risk.
- Market Competition – Competes with established players like GMM Pfaudler and HLE Glascoat.
- Debt Levels – While manageable, debt levels have increased in recent years.
Should you invest in the Standard Glass Lining IPO?
The company’s strong financials, dominant position in a niche sector, and robust demand in the grey market make this IPO an attractive proposition. However, the valuation suggests that the issue is fully priced, reflecting confidence in future growth.
For retail investors seeking to capitalise on the booming pharma and chemical sectors, Standard Glass Lining IPO presents a compelling opportunity.
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Bottom Line
Standard Glass Lining IPO presents an opportunity to invest in a growing company with solid financials and a strong market position. However, consider the competition and operational risks before making a decision. For medium to long-term investors, this IPO could provide substantial returns.
