Standard Glass Lining Technology Files DRHP with SEBI: What to Expect from Their Upcoming IPO

About the IPO

The company plans to raise funds through a fresh issue of ₹250 crore and also offer up to 18.44 million shares for sale by founders and other shareholders. The shares have a face value of ₹10 each.

Shares for Sale

• M/s S2 Engineering Services: Up to 5.20 million shares
• Kandula Ramakrishna: Up to 4.90 million shares
• Kandula Krishna Veni: Up to 4.13 million shares
• Nageswara Rao Kandula: Up to 7.65 lakh shares
• M/s Standard Holdings: Up to 5.04 lakh shares
• Katragadda Venkata Ramani: Up to 5 lakh shares
• Venkata Siva Prasad Katragadda: Up to 3.50 lakh shares
• Venkata Sandeep Gopineedi: Up to 4.50 lakh shares
• Mahitha Katragadda: Up to 3.50 lakh shares
• Katragadda Harini: Up to 3.50 lakh shares

Use of Funds

• Capital Expenditure: ₹10 crore will be used to buy new machinery and equipment.
• Debt Repayment: ₹130 crore will help repay or prepay existing loans.
• Investment in Subsidiary: ₹130 crore will be invested in S2 Engineering Industry Private Ltd to manage its own debts and buy machinery.
• Strategic Growth: ₹20 crore will be used for acquisitions or investments in other companies.
• General Use: ₹30 crore will go towards general company needs.

Company Overview

Standard Glass Lining Technology is a leading producer of specialist engineering equipment made from nickel alloy, stainless steel, and glass-lined materials. It is also one of the top three providers of PTFE-lined pipes and fittings in India.

In fiscal 2024, the company’s revenue grew by 9.26% to ₹543.67 crore, up from ₹497.59 crore in the previous year. Its net profit also increased from ₹53.42 crore to ₹60.01 crore.

IPO Details

• Registrar: KFin Technologies Limited
• Lead Managers: IIFL Securities Limited and Motilal Oswal Investment Advisors Limited
• Listing: Shares will be listed on NSE and BSE.