Standard Glass Lining Technology Limited raises Rs 123 crores from Anchor Investors

Standard Glass Lining Technology Limited has garnered Rs.123.02 crores from anchor investors ahead of its initial public offering that opens for public subscription on Monday, January 6, 2025. The company informed the bourses that it allocated 87,86,809 equity shares at Rs. 140 per share on Friday, January 3, 2025, to anchor investors.

Foreign and Domestic Institutions who participated in the anchor included Amansa Holdings Private Ltd, Clarus Capital I, ICICI Prudential MF, Kotak Mahindra Trustee Co Ltd A/C Kotak Manufacture In India Fund, Tata MF, Motilal Oswal MF, 3P India Equity Fund I, Kotak Infinity Fund - Class AC, Massachusetts Institute of Technology, ITI Large Cap Fund.

Out of the total allocation of 87,86,809 equity shares to the anchor investors, 33,93,184 equity shares were allocated to 5 domestic mutual funds, i.e. 38.62% of the Total Anchor Book Size.

IIFL Capital Services Limited, and Motilal Oswal Investment Advisors Limited are the book-running lead managers, and KFin Technologies Limited is the registrar of the issue.

IPO Details

The IPO is a mix of fresh issue of up to Rs 210 crore and an offer of sale of up to 1,42,89,367 equity shares by Promoter Selling and Promoter Group Selling Shareholders and Other Selling Shareholders.

The Company is proposing to open its initial public offering of Equity Shares (the "Offer") on Monday, January 6, 2025, and closes on Wednesday, January 8, 2025. The price band for the Offer has been determined at Rs 133 - Rs 140 per equity share.

The IPO will fetch Rs 410.05 crore at the upper end of the price band.

Investors can bid for a minimum of 107 equity shares and in multiples of 107 equity shares thereafter.

The Offer is being made through the book-building process, wherein not more than 50% of the offer shall be available for allocation on a proportionate basis to qualified institutional buyers, not less than 15% of the offer shall be available for allocation to non-institutional investors, and not less than 35% of the offer shall be available for allocation to retail individual portion.

Source : Equity Bulls

Keywords

StandardGlassLiningTechnology FundRaising IPO AnchorInvestors Allocation