Standard Glass Lining IPO: Hyderabad-based firm garners ₹123 crore from anchor investors ahead of public issue | Stock Market News
Source: Live Mint
Standard Glass Lining Technology Limited has raised ₹123.02 crores from anchor investors ahead of its upcoming initial public offering, set to open for public subscription on Monday, January 6, 2025.
The company announced that it has allocated 87,86,809 equity shares to anchor investors at a price of ₹140 per share on Friday, January 3, 2025.
Foreign and Domestic Institutions who participated in the anchor included Amansa Holdings Private Ltd, Clarus Capital I, ICICI Prudential MF, Kotak Mahindra Trustee Co Ltd A/C Kotak Manufacture In India Fund, Tata MF, Motilal Oswal MF, 3P India Equity Fund I, Kotak Infinity Fund – Class AC, Massachusetts Institute of Technology, ITI Large Cap Fund.
Out of the total allocation of 87,86,809 equity shares to the anchor investors, 33,93,184 equity shares were allocated to 5 domestic mutual funds, i.e. 38.62% of the Total Anchor Book Size.
IIFL Capital Services Limited, and Motilal Oswal Investment Advisors Limited are the book-running lead managers, and KFin Technologies Limited is the registrar of the issue.
Standard Glass Lining IPO details
Standard Glass Lining IPO consists of a fresh issue worth up to ₹210 crore and the sale of up to 1,42,89,367 equity shares by promoter selling, Promoter Group Selling Shareholders, and Other Selling Shareholders.
The company plans to launch the IPO on Monday, January 6, 2025, and close it on Wednesday, January 8, 2025. The price range for the offer has been set between ₹133 and ₹140 per equity share.
At the upper end of the price range, the IPO is expected to raise ₹410.05 crore. Investors can place bids for a minimum of 107 equity shares and in multiples of 107 thereafter.
The issue is a book-building process, with up to 50% of the shares allocated to qualified institutional buyers on a proportionate basis, at least 15% reserved for non-institutional investors, and a minimum of 35% earmarked for retail individual investors.
