Shares of Standard Glass Lining Technology debuted on the stock market on January 13, 2025, following an IPO that raised ₹410.05 crore, subscribed 183.18 times. However, the grey market premium (GMP) has fallen significantly, indicating investor caution.
As of Monday morning, the shares commanded a GMP of ₹50, suggesting potential listing gains of approximately 35.71% based on an upper price band of ₹140. This is a sharp decline from the ₹90-95 GMP noted on the final bidding day.
The IPO, which was open for subscription from January 6 to 8, offered shares at a price band of ₹133-140 with a lot size of 107 shares. The allocation was highly favored among institutional investors, with QIBs subscribing 331.60 times and NIIs 268.50 times, while retail investors subscribed 64.99 times.
Founded in September 2012, Standard Glass Lining Technology specializes in engineering equipment for the pharmaceutical and chemical sectors, providing comprehensive turnkey solutions. Analysts remain optimistic about the IPO, highlighting the company's strong fundamentals and growth potential.
The shares will list on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).