Standard Glass Lining Technology Limited, a leading manufacturer of specialized engineering equipment for the pharmaceutical and chemical sectors, has successfully made its debut on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
Shares of the company opened at ₹176 on the BSE, marking a 25.7% premium over the issue price of ₹140, while on the NSE, they opened at ₹172, reflecting a 22.8% premium.
This positive market reception followed a highly successful Initial Public Offering (IPO), which was oversubscribed by a remarkable 182.57 times.
The total demand for shares reached approximately ₹74,000 crore, a significant leap compared to the issue size of ₹410.05 crore.
The IPO, which offered shares in the price band of ₹133 to ₹140 per share, saw substantial interest from investors.
The funds raised through the IPO are aimed at repaying debt, making strategic investments, and acquiring machinery for its subsidiary, S2 Engineering Industry Private Limited.
Standard Glass Lining Technology specializes in providing a wide range of products and services to the pharmaceutical and chemical industries in India, positioning itself as a key player in these sectors.
Also Read
Laxmi Dental IPO Makes Debut: Day 1 Updates and Key Insights
Sensex and Nifty Struggle as Market Faces Global and Domestic Pressures
Recent headlines about Australians embracing Individual Retirement Accounts have sparked curiosity worldwide. But here's the…
The blockchain development landscape is witnessing a significant shift as Pi Network rolls out major…
Nearly one million Pennsylvania workers just became eligible for hundreds of dollars in extra tax…
Costco has issued an urgent recall for two Caesar salad products after plastic pieces were…
The South African Social Security Agency (SASSA) has officially released the payment schedule for December…
Wall Street witnessed a dramatic power shift in the artificial intelligence sector on Tuesday as…