Standard Glass Lining Technology: Hyderabad-based Standard Glass Lining Technology Ltd has raised Rs 40 crore from Amansa Investment via private placement ahead of its IPO. This company manufactures specialized engineering equipment for pharmaceutical and chemical industries. As per the company’s announcement on December 17, 2024, it issued 28,57,142 equity shares to Amansa Investments Limited at a price of Rs 140 per share (including a premium of Rs 130) in consultation with lead bankers.
Free shares worth up to Rs 250 crore will be issued
This transaction amounting to Rs 40 crore is 1.55 per cent of the pre-offer share capital of the company. According to the DRHP filed in July 2024, fresh equity shares worth up to Rs 250 crore will be issued under this IPO with a face value of Rs 10 per equity share. Additionally, 18,444,000 equity shares will be sold through Offer for Sale (OFS) by the promoters and selling shareholders. The company received SEBI’s final observation for IPO in October 2024.
Standard Glass Lining Technology said it offers comprehensive solutions that include design, engineering, manufacturing, assembly, installation and commissioning. This also includes setting up standard operating procedures for pharmaceutical and chemical manufacturers on a turnkey basis.
Its product portfolio includes essential equipment used in the production of pharmaceutical and chemical products. These are classified into reaction systems. This includes storage, separation and drying systems, plant, engineering and services. As of March 31, 2024, the portfolio comprised over 65 products and offerings. In the last decade, it has distributed more than 11,000 products.
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