Standard Glass Lining Technology IPO makes an impressive debut on the exchange
FinTech BizNews Service
Mumbai, January 13, 2025: Shares of Standard Glass Lining Technology Limited made an impressive debut on the exchange listing at a 25.71% premium.
The scrip listed Rs 176 per share on BSE, a premium of 25.71% and Rs 172 per share on NSE, a premium of 22.86%. The company's share price closed at Rs 163.35 per share on the BSE, a 16.68% premium, and at Rs 163.20 per share on the NSE, a 16.57% premium.
As per NSE, the total quantity traded stood at 453.02 lakh shares, on BSE the total Quantity stood at 35.78 lakh shares. Total Turnover (BSE+NSE) on Day 1 stood at Rs 840.72 crore.
Mr. Nageswara Rao Kandula, MD – Standard Glass Lining Technology Ltd said “We are incredibly thankful to our investors for their trust and confidence as we embark on this journey as a publicly listed company. Your belief in our vision has been instrumental in reaching this important milestone. As we look ahead, we remain committed to driving growth, innovation, and value for all our stakeholders. We are excited about the future and look forward to your continued support.”
The Market Capitalization of the Company at today’s closing price stood at Rs. 3,258.70 Crore as per BSE and Rs. 3,255.70 Crore as per NSE.
Standard Glass Lining Technology’s capabilities include designing, engineering, manufacturing, assembly, installation, and commissioning solutions and establishing standard operating procedures for pharmaceutical and chemical manufacturers on a turnkey basis. Its portfolio comprises core equipment used in the manufacturing of pharmaceutical and chemical products, which can be categorized into: Reaction Systems; Storage, Separation, and Drying Systems; and Plant, Engineering, and Services (including other ancillary parts). It is also one of India’s top three manufacturers of glass-lined, stainless steel, and nickel alloy-based specialized engineering equipment, in terms of revenue in Fiscal 2024, according to an F&S Report. It is also one of the top three suppliers of polytetrafluoroethylene (“PTFE”) lined pipelines and fittings in India, in terms of revenue in Fiscal 2024. It has been the fastest-growing company in the industry, and it has operated during the past three completed fiscals in terms of revenue.
The company possesses in-house capabilities to manufacture all the core specialized engineering equipment required in the active pharmaceutical ingredient (“API”) and fine chemical products manufacturing process. Over the last decade, it has supplied over 11,000 products. Its marquee customer base includes 30 out of approximately 80 pharmaceutical and chemical companies in the NSE 500 index as of June 30, 2024. It operates through its eight manufacturing facilities spread across a built-up/floor area of over 400,000 sq. ft., strategically located in Hyderabad, Telangana, the “Pharma Hub” of India, which accounted for 40.00% of the total Indian bulk drug production in Fiscal 2024.
