In the year 2024, investors earned a lot of money through IPO. Now in the new year i.e. 2025, there is good news for IPO investors. An IPO is going to open in the market on January 6, whose GMP is already blowing people's senses. Let us tell you about it in detail, along with this, let us also tell you what this company does and how much money it is planning to raise from this IPO.

Which IPO is this?

The IPO we are talking about is named Standard Glass Lining Technology Limited IPO. It is going to open for subscription on 6 January 2025. Through this IPO, the company has set a target of raising Rs 410.05 crore from the market. This is a big opportunity for those investors who are thinking of making profits even in the falling market.

Standard Glass Lining IPO Details

This IPO is a book built issue of Rs 410.05 crore. It includes a fresh issue of 1.50 crore shares worth Rs 210 crore and an offer for sale (OFS) of 1.43 crore shares worth Rs 200.05 crore. The promoters of the company include Nageswara Rao Kandula, Kandula Krishna Veni and other prominent people.

IPO Price Band

The price band of the Standard Glass Lining IPO has been fixed at Rs 133 to Rs 140 per share. The minimum lot size is 107 shares, which means retail investors will have to invest a minimum of Rs 14,980.

GMP showed its strength

The grey market premium (GMP) of Standard Glass Lining IPO in the unlisted stock market is Rs 88. This is 62.8% higher than the cap price, which shows huge enthusiasm among investors. If this GMP remains, then investors will make a profit of Rs 88 per share in a single day. However, it is possible that the GMP of this IPO may increase further in the coming days.

what the company does

Standard Glass Lining Technology Limited manufactures engineering machines for the pharmaceutical and chemical industry. The company has eight manufacturing units in Hyderabad, Telangana. The company had a revenue of Rs 549.68 crore and a profit after tax (PAT) of Rs 60.1 crore in FY 2023-24.

What will the company do with the money?

The company will use the funds raised from this issue to purchase machinery and equipment, repay debt and invest in a wholly-owned material subsidiary. Also, the company will use this capital to meet general corporate purposes.

Let us tell you, IIFL Securities and Motilal Oswal Investment Advisors Limited are the book running lead managers of this issue. At the same time, KFin Technologies Limited is the registrar of this IPO. 50% of this issue is reserved for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs), and 35% for retail investors.