Standard Glass Lining | Business Upturn

Standard Glass Lining Technology’s subsidiary signs exclusive supply deal with US-based Gale Process Solutions

Aditya Bhagchandani — Mon, 10 Mar 2025 13:37:26 +0000

Standard Glass Lining Technology Limited (SGLTL) has announced that its material subsidiary, S2 Engineering Industry Private Limited, has entered into an exclusive and long-term supply and purchase agreement with Gale Process Solutions LLC, USA.

Key Highlights of the Agreement:

Partner: Gale Process Solutions LLC, an affiliate of International Process Plants and Equipment Corporation, USA.
Effective Date: March 10, 2025.
Scope:
- Export and supply of stainless steel, carbon steel, and nickel alloy-based products.
- Expansion of SGLTL’s reach into international markets through Gale Process Solutions’ distribution network.
Size of Agreement: Not determinable at this stage.
Related Party Transaction: No.

Strategic Significance

Strengthens SGLTL’s global footprint, expanding its presence in the US and other international markets.
Enhances SGLTL’s product portfolio in process equipment manufacturing.
Provides a stable and long-term export opportunity, increasing revenue potential for S2 Engineering Industry Pvt. Ltd.

This agreement aligns with SEBI (LODR) Regulations, 2015, ensuring transparency in the company’s material business developments.

Standard Glass Lining Technology IPO lists with 22.86% gains on NSE at Rs 172

Aditya Bhagchandani — Mon, 13 Jan 2025 04:29:53 +0000

Standard Glass Lining Technology Limited made a strong debut in the stock market today, January 13, with its shares listing at ₹172 on NSE, reflecting a 23% gain over its issue price. On BSE, the stock recorded a listing premium of 26%. Despite the volatile market conditions, the listing is considered decent, although it fell slightly short of certain investor expectations.

Financial Highlights:

The company reported a 10% revenue growth and a 12% increase in profit after tax (PAT) between FY2023 and FY2024, demonstrating robust financial performance ahead of its IPO.

IPO Details:

Subscription Period: January 6-8, 2025
Issue Size: ₹410.05 crore
- Fresh Issue: ₹210 crore
- Offer for Sale (OFS): 1.43 crore equity shares
Price Band: ₹133 to ₹140 per share
Overall Subscription: 182.57 times
- Qualified Institutional Buyers (QIB): 331.60 times
- Non-Institutional Investors (NII): 267.99 times
- Retail Investors: 63.99 times

Business Overview:

Standard Glass Lining Technology is a leading engineering equipment manufacturer specializing in pharmaceutical and chemical sectors. The company has in-house capabilities to deliver solutions across the value chain, making it a key player in its segment.

Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.

Standard Glass Lining IPO Allotment Today: Key details and steps to check status

Aditya Bhagchandani — Thu, 09 Jan 2025 03:03:15 +0000

The basis of allotment for the Standard Glass Lining Technology Ltd IPO is expected to be finalized on Thursday, January 9, 2025, following strong investor demand.

IPO Highlights:

Subscription Status:
- Overall subscription: 182.57 times.
- Qualified Institutional Buyers (QIBs): 331.6 times.
- Non-Institutional Investors (NIIs): 267.99 times.
- Retail Investors: 63.99 times.
Offer Size:
- Total IPO size: ₹410 crore.
- Fresh issue: 1.50 crore shares worth ₹210 crore.
- Offer-for-sale: 1.43 crore shares.
Price Band: ₹133 to ₹140 per share.
IPO Dates: Opened on January 6 and closed on January 8.

Key Dates:

Allotment Finalization: January 9, 2025.
Refunds Initiation & Demat Transfer: January 10, 2025.
Listing Date: January 13, 2025, on NSE and BSE.

Steps to Check IPO Allotment Status:

On BSE Website:

Visit BSE IPO Allotment Page.
Select “Equity” as the issue type.
Choose “Standard Glass Lining Technologies Ltd.” from the dropdown.
Enter your Application Number or PAN.
Click “Search” to view your allotment status.

On KFin Tech Website:

Go to KFin Tech IPO Allotment Status Page.
Select Standard Glass Lining Technologies Ltd from the IPO list.
Enter your Application Number, Demat Account Number, or PAN.
Complete the CAPTCHA and click “Submit” to check your status.

On NSE Website:

Log in to the NSE Portal using your User ID and Password.
Navigate to the IPO allotment section and follow instructions.

Use of IPO Proceeds:

Debt Repayment: Part of the proceeds will be used to reduce the company’s financial liabilities.
Inorganic Growth: Funding acquisitions to expand market presence.
Capital Expenditure: Investment in new machinery to enhance manufacturing capacity.
Subsidiary Support: A portion will be invested in S2 Engineering Industry Pvt Ltd, its wholly-owned subsidiary.
General Corporate Purposes: Strengthening operational efficiencies.

About Standard Glass Lining Technologies Ltd:

The company offers end-to-end solutions for pharmaceutical and chemical manufacturers, including design, engineering, manufacturing, and installation on a turnkey basis. The IPO marks a significant milestone in its expansion plans and financial optimization.