As to the DRHP, the public offering consists of a new issue of shares valued at Rs 10 each, which can total up to Rs 250 crore, and an offer to sell 18.444 million shares at Rs 10 each, which can total up to Rs 350 core.
Standard Glass Lining Technology Rs 600 Crore IPO
In order to earn Rs 600 crore through an initial public offering (IPO), Standard Glass Lining Technology Limited has submitted a Draft Red Herring Prospectus (DRHP) to Securities Exchange Board of India (SEBI), the capital markets regulator.
The DRHP states that the public offering consists of a new offering of shares with a face value of Rs 10 that might total up to Rs 250 crore and an offer to sell of 18.444 million shares, valued at Rs 10 per, for a total of Rs 350 core.
Hyderabad-based company, Standard Glass Lining Technology Rs 600 Crore IPO
The Hyderabad-based company will raise the money through a 100% book building process and use the proceeds for capital expenditures for the repayment of some existing loans, funding inorganic growth, and general corporate purposes. The company manufactures specialized engineering equipment for the pharmaceutical and chemical sectors in India.
According to the company’s documents, “the offer price, floor price, and cap price will be determined in consultation with BRLMs (Book Running Leader Managers) and on the basis of assessment of market demand for the equity shares.”
Both the BSE and NSE will list the shares. In FY24, the business reported total revenues of Rs 543.67 million, up from FY23’s Rs 497.59 crore. According to the statement, the issue’s merchant bankers are Motilal Oswal Investment Advisors and IIFL Securities.
Account opning link:
- Groww Account- https://app.groww.in/v3cO/kyrp1zph
- Kotak neo Account https://kotaksecurities.ref-r.com/c/i/32531/109103906
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