Standard Glass Lining IPO Soars with Impressive Subscription Rates

Standard Glass Lining Technology Ltd's IPO was rapidly fully subscribed upon launch, securing 3.22 times the shares offered. Retail and non-institutional investors showed high interest. The proceeds, amounting to Rs 410.05 crore, will support debt repayment, acquisitions, and other corporate purposes.

In a remarkable debut, Standard Glass Lining Technology Ltd's initial public offering swiftly garnered full subscription minutes after the bidding commenced on Monday.

The IPO attracted bids for 6,70,40,315 shares, translating to 3.22 times the 2,08,29,567 shares available, according to the National Stock Exchange data, demonstrating robust interest from Retail Individual Investors (RIIs) and non-institutional players, with respective oversubscriptions of 4.47 times and 4.42 times.

The Rs 410.05 crore public issue includes a fresh equity issuance and an Offer For Sale by promoters, with proceeds earmarked for debt repayment, strategic acquisitions, and general corporate purposes, illustrating strong investor confidence in the company's growth trajectory.

(With inputs from agencies.)