Stock Market Today: Singapore-based FII, Amansa Investment invests ₹40 crore through private placement in IPO-bound company Standard Glass Lining Technology through private placement.
Pre-IPO funding via private placement
The Hyderabad based Standard Glass Lining Technology Limited, a manufacturer of specialized engineering equipment for the pharmaceutical and chemical industries. It has secured ₹40 crore through pre-IPO funding via private placement from Amansa Investments Limited.
As per the company’s public announcement on December 17, 2024, it issued 28,57,142 equity shares to Amansa Investments Ltd at a price of ₹140 per share (including a premium of ₹130), in consultation with the lead bankers.
This transaction, amounting to ₹40 crore, represents 1.55% of the company’s pre-offer share capital.
Details of the Issue as per DRHP
According to the DRHP filed in July 2024, the public issue with a face value of ₹10 per equity share is a mix of fresh issue of shares up to ₹250 crore and an offer for sale up to 18,444,000 equity shares. The offer for sale is by Promoters and Other Shareholders. In the month of October 2024, the company had received Sebi’s final observation for the IPO.
About Standard Glass Lining Technology
Standard Glass Lining Technology offers comprehensive solutions that encompass design, engineering, manufacturing, assembly, installation, and commissioning, as well as establishing standard operating procedures for pharmaceutical and chemical manufacturers on a turnkey basis.
Its product portfolio includes essential equipment used in the production of pharmaceutical and chemical products, categorized into Reaction Systems; Storage, Separation and Drying Systems; and Plant, Engineering and Services.
As of March 31, 2024, the portfolio consisted of more than 65 products and offerings. Over the last decade, it has delivered more than 11,000 products.
Customer Base of Standard Glass lining
The company has 443 customers, including end-users in the pharmaceutical, chemical, paint, biotechnology, and food and beverage sectors.
As of June 30, 2024, their notable customers include 30 out of approximately 80 pharmaceutical and chemical companies in the NSE 500 index. Some of its pharma clients include the likes of Aurobindo Pharma Limited, Cadila Pharmaceutical Limited, Deccan Fine Chemicals (India) Private Limited, Laurus Labs Limited, Granules India Limited, Macleods Pharmaceuticals Limited, Natco Pharma Limited, Piramal Pharma Limited, Suven Pharmaceuticals Limited, and Tagros Chemicals India Private Limited.
Boodk running managers and Registrars of the issue
IIFL Securities Limited, and Motilal Oswal Investment Advisors Limited are the book-running lead managers, and KFin Technologies Limited is the registrar of the issue.
