Monday, January 13, 2025

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Standard Glass Lining Technology Ltd has strong market debut.

Alex Chen January 13, 2025 Technology

Standard Glass Lining Technology Ltd’s Strong Market Debut

On Monday, Standard Glass Lining Technology Ltd’s shares burst onto the market at a striking 26% premium over the issue price of Rs 140, debuting at Rs 176 and further climbing to Rs 181.70 on the BSE. The NSE listing started at Rs 172, marking a 22.85% rise.

Overwhelming Demand for IPO

The company’s IPO elicited strong demand, being oversubscribed 182.57 times on its final bidding day. The Rs 410.05-crore offering featured a price band ranging from Rs 133 to Rs 140 per share.

Utilization of IPO Funds

Funds from the IPO will facilitate debt repayment, bolster investments in its subsidiary S2 Engineering Industry, and support the purchase of machinery as well as strategic acquisitions to foster inorganic growth.

(With inputs from agencies.)

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About Alex Chen

Alex Chen is a tech blogger based in Silicon Valley. He loves writing about the latest trends in the industry and sharing his insights with his readers. With years of experience in the field, Alex has built a loyal following of tech enthusiasts who appreciate his informative and engaging content. When he's not writing, Alex enjoys experimenting with new tech gadgets and exploring the vibrant tech scene in the Bay Area.