Standard Glass Lining IPO Overview 2025
The Standard Glass Lining IPO is set to open for subscription on January 6, 2025, and close on January 8, 2025. The IPO is a Book Built Issue, aiming to raise ₹410.05 crores, comprising a fresh issue of ₹210 crores and an offer for sale of 1,42,89,367 equity shares. The IPO will list on BSE and NSE on January 13, 2025.
Key IPO Details
| Aspect | Details |
|---|---|
| IPO Open Date | January 6, 2025 |
| IPO Close Date | January 8, 2025 |
| Face Value | ₹10 per equity share |
| IPO Price Band | ₹133 to ₹140 per share |
| Issue Size | ₹410.05 crores |
| Fresh Issue | ₹210 crores |
| Offer for Sale | 1,42,89,367 equity shares |
| Listing Platform | BSE and NSE |
| Retail Investor Quota | 35% |
| QIB Quota | 50% |
| HNI Quota | 15% |
Market Lot Details
The minimum market lot is 107 shares, with a total investment of ₹14,980 for retail investors.
| Application Type | Lot Size | Shares | Amount (₹) |
|---|---|---|---|
| Retail Minimum | 1 | 107 | 14,980 |
| Retail Maximum | 13 | 1,391 | 1,94,740 |
| S-HNI Minimum | 14 | 1,498 | 2,09,720 |
| B-HNI Minimum | 67 | 7,169 | 10,03,660 |
Important Dates
| Event | Date |
|---|---|
| IPO Open Date | January 6, 2025 |
| IPO Close Date | January 8, 2025 |
| Allotment Finalization | January 9, 2025 |
| Refund Initiation | January 10, 2025 |
| Credit to Demat | January 10, 2025 |
| IPO Listing Date | January 13, 2025 |
About Standard Glass Lining
Standard Glass Lining Technology Limited, established in 2012, specializes in manufacturing engineering equipment for pharmaceutical and chemical industries. The company provides comprehensive solutions, including:
- Designing and Engineering
- Manufacturing and Assembly
- Installation and Operational Support
Standard Glass Lining serves industries such as paints, biotechnology, pharmaceuticals, and food and beverages. It is renowned as one of India’s top suppliers of glass-lined, stainless steel, and high-alloy equipment. The company is also the only provider of 10KL stainless steel glass-lined reactors in the country, emphasizing its technical expertise and innovative capabilities.
Over the last decade, the company has delivered more than 11,000 products, cementing its position as a leader in the sector.
Financial Performance
The financials highlight a consistent growth trajectory, with increasing revenue and profits:
| Year | Revenue (₹ Cr.) | Expense (₹ Cr.) | Profit After Tax (₹ Cr.) | Assets (₹ Cr.) |
|---|---|---|---|---|
| 2022 | 241.50 | 207.73 | 25.15 | 298.11 |
| 2023 | 500.08 | 428.22 | 53.42 | 347.79 |
| 2024 | 549.68 | 469.88 | 60.01 | 665.38 |
| Sep 2024 | 312.10 | – | 36.27 | 756.52 |
Key Valuation Metrics (FY2024)
| Metric | Value |
|---|---|
| Return on Equity (ROE) | 20.74% |
| Return on Capital (ROCE) | 25.49% |
| EBITDA Margin | 18.36% |
| PAT Margin | 10.92% |
| Debt-to-Equity Ratio | 0.32 |
| Earnings Per Share (EPS) | ₹3.52 |
| Net Asset Value (NAV) | ₹24.55 |
Peer Comparison
| Company | EPS (₹) | PE Ratio | ROE (%) | NAV (₹) | Income (₹ Cr.) |
|---|---|---|---|---|---|
| GMM Pfaudler Ltd. | 39.80 | 36.05 | 20.23% | 215.22 | 3,466.50 |
| HLE Glascoat Ltd. | 6.52 | 68.04 | 7.99% | 61.06 | 976.74 |
| Thermax Ltd. | 57.30 | 86.63 | 15.53% | 394.10 | 9,556.03 |
| Praj Industries | 15.42 | 45.53 | 24.09% | 69.36 | 3,509.78 |
Objects of the Issue
The IPO proceeds will be allocated for:
- Purchase of Machinery and Equipment to support capital expenditure.
- Repayment or Prepayment of certain borrowings.
- Investment in Subsidiary (S2 Engineering Industry Pvt. Ltd.) for capital expenditure and loan repayment.
- Funding Strategic Acquisitions for inorganic growth.
- General Corporate Purposes.
Promoters
The promoters of Standard Glass Lining include:
- Nageswara Rao Kandula
- Kandula Krishna Veni
- Kandula Ramakrishna
- Venkata Mohana Rao Katragadda
- Kudaravalli Punna Rao
- M/s S2 Engineering Services
Lead Managers:
- IIFL Securities Ltd.
- Motilal Oswal Investment Advisors Ltd.
Company Contact Information
Standard Glass Lining Limited
Address: 10th Floor, PNR High Nest,
Hydernagar, KPHB Colony, Hyderabad-500085
Phone: +040 3518 2204
Email: corporate@standardglr.com
Website: Standard Glass Lining
Investment Potential
Standard Glass Lining IPO Technology Limited is a prominent player in the pharmaceutical and chemical equipment sector. With robust financial performance and a well-established client base, the IPO is a strong contender for long-term investment. However, investors should review the company’s fundamentals, industry risks, and pricing before making a decision.
Summary of Standard Glass Lining IPO
The Standard Glass Lining IPO will open for subscription on January 6, 2025, and close on January 8, 2025. It is a Book Built Issue with a total issue size of ₹410.05 crores, including a fresh issue of ₹210 crores and an offer for sale of 1,42,89,367 equity shares. The IPO is priced between ₹133 and ₹140 per share and will list on BSE and NSE on January 13, 2025.
Key Highlights
- IPO Size: ₹410.05 crores.
- Fresh Issue: ₹210 crores.
- Price Band: ₹133 to ₹140 per share.
- Minimum Investment: ₹14,980 for one lot (107 shares).
- Investor Quotas:
- Retail Investors: 35%.
- QIBs: 50%.
- HNIs: 15%.
- Listing Date: January 13, 2025.
Financial Overview
The company has shown consistent growth in revenue and profit:
- 2024 Revenue: ₹549.68 crores (up from ₹500.08 crores in 2023).
- 2024 Profit After Tax: ₹60.01 crores (up from ₹53.42 crores in 2023).
- EBITDA Margin: 18.36%.
- PAT Margin: 10.92%.
- Return on Equity (ROE): 20.74%.
Objects of the Issue
The IPO proceeds will be used for:
- Purchase of machinery and equipment for expansion.
- Repayment of borrowings.
- Investment in the subsidiary S2 Engineering Industry Pvt. Ltd.
- Funding strategic acquisitions.
- General corporate purposes.
Company Overview
Founded in 2012, Standard Glass Lining Technology Limited specializes in engineering equipment for the pharmaceutical, chemical, biotechnology, and food & beverages industries. The company is a top supplier of glass-lined, stainless steel, and high-alloy equipment in India and the only domestic provider of 10KL stainless steel glass-lined reactors.
Investment Potential
The company’s robust financials, leadership in its sector, and growing demand for its products make the IPO attractive for long-term investors. However, investors should carefully analyze the price band, market conditions, and industry risks before applying.