Standard Glass Lining Technology Limited IPO
Standard Glass Lining Technology Limited (SGLTL) recently concluded its Initial Public Offering (IPO), marking a significant milestone for the company and its st ...
Read moreIPO Timeline
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06 Jan 2025Bidding Starts
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08 Jan 2025Bidding Ends
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09 Jan 2025Allotment Finalization
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10 Jan 2025Refund Date
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10 Jan 2025Demat Date
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13 Jan 2025Listing Date
Standard Glass Lining Technology Limited IPO Financial Result in crore
| Year | Asset | Revenue | Profit |
|---|---|---|---|
| 01 Mar 2022 | ₹298.11 Cr | ₹241.50 Cr | ₹25.15 Cr |
| 31 Mar 2023 | ₹347.79 Cr | ₹500.08 Cr | ₹53.42 Cr |
| 01 Mar 2024 | ₹665.38 Cr | ₹549.68 Cr | ₹60.01 Cr |
| 01 Sep 2024 | ₹756.52 Cr | ₹312.10 Cr | ₹36.27 Cr |
About Standard Glass Lining Technology Limited IPO
About the Company
Found ... Their product range includes reactors, receivers, storage tanks, heat exchangers, dryers, and filters. Operating from Hyderabad, Telangana, SGLTL adheres to international standards such as ISO, DIN, and ASME.
Company Strengths
- Market Leadership: SGLTL is among India's top three manufacturers of glass-lined, stainless steel, and nickel alloy equipment, with a leading position in PTFE-lined pipelines.
- Strategic Location: With eight facilities in Hyderabad, the company benefits from proximity to India's pharmaceutical hub.
- Comprehensive Product Portfolio: Offers a wide range of products adhering to international standards, catering to diverse client needs.
Company Weaknesses
- High Working Capital Days: As of FY24, the company reported 151 working capital days, indicating extended receivables and reliance on short-term borrowings.
- Sectoral Concentration: A significant portion of revenue is derived from the pharmaceutical sector, exposing the company to industry-specific risks.
- Cyclicality in End-User Industries: Demand for products is susceptible to the capital expenditure plans of key industries, which can be cyclical.
Objectives of the IPO
The IPO aimed to raise ₹410.05 crores, comprising a fresh issue of ₹210 crores and an offer for sale of ₹200.05 crores. The proceeds are allocated as follows:
- Debt Repayment: ₹130 crores to reduce outstanding borrowings.
- Investment in Subsidiary: ₹30 crores for S2 Engineering Industry Private Limited.
- Strategic Acquisitions: ₹20 crores earmarked for potential acquisitions.
- Purchase of Machinery: ₹10 crores to upgrade manufacturing capabilities.
- General Corporate Purposes: Remaining funds to support overall corporate activities.
Company Promoters
The promoters of SGLTL are:
- Kandula Ramakrishna: Significant contributor to the company's growth and strategic direction.
- Kandula Krishna Veni: Instrumental in operational and managerial aspects.
Prior to the IPO, both promoters sold portions of their shares to certain individuals and entities at ₹140 per share.
Shareholding Pattern
Post-IPO, the shareholding structure is as follows:
- Promoter and Promoter Group: 60.41%
- Public Shareholding: 39.59%
FAQs
What is the Standard Glass Lining Technology Limited IPO?
The Standard Glass Lining Technology Limited IPO is the company's initial public offering to raise capital through a fresh issue and offer for sale. It opened for subscription in January 2025.
What are the IPO open and close dates?
IPO Open Date: January 6, 2025 IPO Close Date: January 8, 2025
What is the lot size for the IPO?
The minimum lot size for retail investors is 107 shares.
On which stock exchanges will the shares be listed?
The shares will be listed on NSE and BSE.
How to apply in Standard Glass Lining IPO through Zerodha?
✅ Step 1: Log in to Zerodha Console Visit https://console.zerodha.com/ Log in using your Zerodha credentials (same as Kite). ✅ Step 2: Go to the IPO Section On the left-hand menu, click on ‘Portfolio’ → ‘IPO’. You’ll see a list of active IPOs available
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