Standard Glass Lining IPO allotment: How to check status online
What's the story
The share allotment for the Initial Public Offering (IPO) of Standard Glass Lining will be finalized later today or tomorrow morning.
Investors will be allotted shares on a lottery basis, with the entire process supervised by the registrar.
On the allotment date, investors will be notified about their respective share allocations against their bids.
This allocation status can be checked either through BSE or on the registrar's website.
Procedure
Steps to check share allotment status on BSE
To check share allotment status on BSE, investors have to visit the BSE website (https://www.bseindia.com/investors/applicheck.aspx).
They then have to select the issue name, which is the company's name from a dropdown menu.
The last step is to enter either their application number or PAN number to check their allotment status.
This way, investors can easily stay updated about their share allocations.
Alternative method
How to check share allotment status via KFin Technologies
Investors can also check their share allotment status via the registrar, KFin Technologies.
This can be done by visiting the KFin Technologies website (https://ipostatus.kfintech.com/), selecting Standard Glass Lining IPO, entering PAN details, and clicking search.
This alternative method provides another convenient way for investors to find out about their share allocations in the Standard Glass Lining IPO.
IPO details
Standard Glass Lining's IPO performance and future plans
The shares of Standard Glass Lining will be listed on the exchanges on January 13. The company's IPO received a stellar response from investors, getting an overall subscription of 183 times at close.
The shares were offered at a price band of ₹133-140 per share with a lot size of 107 shares.
The company raised ₹410.05 crore through the IPO, including a fresh share issue worth ₹210 crore. At the time of writing, the GMP stood at ₹85 (60% premium).
Investment plan
Utilization of IPO proceeds and company's market position
The funds raised from the fresh issue will be utilized for capital expenditure requirements, debt repayment, investment in its wholly owned material subsidiary S2 Engineering Industry, funding inorganic growth through strategic investments and general corporate purposes.
Standard Glass Lining is among the top five specialized engineering equipment manufacturers for pharmaceutical and chemical sectors in India.
The company's revenue from operations rose 9% YoY to ₹544 crore in FY24, while profit after tax increased 13% to ₹60 crore.