Standard Glass Lining to Raise Rs 600 Crore Through IPO Filing

Standard Glass Lining Technology Limited has filed a Draft Red Herring Prospectus with SEBI to raise Rs 600 crore through an IPO. The public issue includes fresh shares worth Rs 250 crore and an offer for sale of 18.444 million shares aggregating Rs 350 crore. Proceeds will fund capital expenditure, loan repayment, and corporate purposes.

Standard Glass Lining Technology Limited on Friday announced it has filed a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to initiate a Rs 600 crore IPO.

The city-based firm's DRHP outlines a public issue consisting of fresh shares aggregating up to Rs 250 crore alongside an offer for sale of 18.444 million shares valued at Rs 350 crore.

Specialising in engineering equipment for pharmaceutical and chemical sectors, the company plans to use the proceeds for capital expenditure, loan repayments, and general corporate purposes. The firm will decide pricing in consultation with BRLMs, based on market demand. IIFL Securities and Motilal Oswal Investment Advisors are the merchant bankers for the issue.