Standard Glass Lining Technology Ltd. has raised Rs 123.02 crore from anchor investors ahead of the upcoming initial public offering that will open for public subscription on Monday, January 6, 2025.
The company announced that it has allotted 87,86,809 equity shares to anchor investors at a price of Rs. 140 per share on Friday, January 3, 2025.
Foreign and domestic institutions participating in the anchor include Amansa Holdings Private Limited, Clarus Capital I, ICICI Prudential MF, Kotak Mahindra Trustee Company Limited A/c Kotak Manufacture in India Fund, Tata MF, Motilal Oswal MF, 3P India Equity Fund I Are. Kotak Infinity Fund – Class AC, Massachusetts Institute of Technology, ITI Large Cap Fund.
Out of the total allotment of 87,86,809 equity shares to anchor investors, 33,93,184 equity shares were allotted 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 to the issue.
Standard Glass Lining IPO Details
Standard Glass Lining IPO Contains a fresh issue worth up to 210 crore and sale of up to 1,42,89,367 equity shares by the 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. Price range has been set for the offer 133 more Rs 140 per equity share.
At the upper end of the price range, IPO expected to increase 410.05 crores. Investors can bid for a minimum of 107 equity shares and in multiples of 107 thereafter.
The issue is a book-building process, in which up to 50% of the shares are allotted to qualified institutional buyers on a proportionate basis, with a minimum of 15% reserved for non-institutional investors, and a minimum of 35% for retail individual investors. are determined.
