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.
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