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Sandard Glass raises Rs40 cr in pre-IPO deal
Standard Glass Lining Technology Ltd, a city-based manufacturer of engineering equipment for the pharmaceutical and chemical sectors, has raised Rs40 crore through a pre-IPO private placement from Amansa Investments Ltd.
Hyderabad: Standard Glass Lining Technology Ltd, a city-based manufacturer of engineering equipment for the pharmaceutical and chemical sectors, has raised Rs40 crore through a pre-IPO private placement from Amansa Investments Ltd. The company issued 28,57,142 equity shares at Rs140 each (with a premium of Rs130), in collaboration with its lead bankers.
This transaction constitutes approximately 1.55% of the company’s share capital before the IPO. According to the Draft Red Herring Prospectus (DRHP) submitted in July 2024, the firm’s upcoming public issue features equity shares with a face value of Rs10.
The IPO comprises a fresh issue of shares worth up to Rs250 crore alongside an offer for sale of up to 18,444,000 equity shares from promoters and other selling shareholders. In October 2024, the company was granted the final observation by the SEBI, paving the way for the IPO to proceed.
