Standard Glass Lining Technology Surges 17% on Debut

Shares of Standard Glass Lining Technology Ltd saw an impressive market debut, closing 17% higher than its issue price. The IPO was significantly oversubscribed, and funds raised will be used for debt repayment, investment in subsidiaries, strategic acquisitions, and machinery purchases.

Shares of Standard Glass Lining Technology Ltd ended with a significant 17% premium over its issue price of Rs 140, closing at Rs 163.35 on the BSE on Monday.

The stock debuted at Rs 176, surging 25.71% from the issue price, and reached an intraday high of Rs 181.70. On the NSE, it listed at Rs 172 and ended at Rs 163.28.

The IPO was a massive success, subscribed 182.57 times. The Rs 410.05-crore offering included a fresh issue of Rs 210 crore. The funds will be used for debt repayment, investments, and acquisitions.

(With inputs from agencies.)