There will be rain of money in January, everyone is surprised to see the GMP of this IPO which will open on 6th.

In the year 2024, investors made a lot of money through IPO. Now there is good news for IPO investors in the new year i.e. 2025. An IPO is going to open in the market on January 6, whose GMP is already blowing people’s senses. Let us tell you about it in detail, along with this we will also tell you what this company does and how much money it is planning to raise from this IPO.

Which IPO is this?

The name of the IPO we are talking about is Standard Glass Lining Technology Limited IPO. It is going to open for subscription on 6 January 2025. Through this IPO, the company has set a target of raising Rs 410.05 crore from the market. This is a big opportunity for those investors who are thinking of earning profits even in a falling market.

Standard Glass Lining IPO information

This IPO is a book built issue of Rs 410.05 crore. This includes fresh issue of 1.50 crore shares worth Rs 210 crore and offer for sale (OFS) of 1.43 crore shares worth Rs 200.05 crore. The promoters of the company include Nageswara Rao Kandula, Kandula Krishna Veni and other prominent people.

IPO price band

The price band of Standard Glass Lining IPO has been fixed at Rs 133 to Rs 140 per share. The minimum lot size is 107 shares, which means retail investors will have to invest at least Rs 14,980.

GMP showed strength

The gray market premium (GMP) of Standard Glass Lining IPO in the unlisted stock market is Rs 88. It is 62.8% higher than the cap price, which shows huge enthusiasm among investors. If this GMP remains the same then investors will make a profit of Rs 88 per share in a day. However, it is possible that the GMP of this IPO may increase further in the coming days.

what does the company do

Standard Glass Lining Technology Limited manufactures engineering machines for the pharmaceutical and chemical industries. The company has eight manufacturing units in Hyderabad, Telangana. The company had earned revenue of Rs 549.68 crore and profit after tax (PAT) of Rs 60.1 crore in the financial year 2023-24.

What will the company do with the money?

The company will use the funds raised from this issue to purchase machinery and equipment, repay debt and invest in its wholly owned material subsidiary. Besides, the company will also use this capital to fulfill general corporate objectives.

Let us tell you, IIFL Securities and Motilal Oswal Investment Advisors Limited are the book running lead managers of this issue. Whereas, Kfin Technologies Limited is the registrar of this IPO. 50% of the issue is reserved for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs), and 35% for retail investors.

Disclaimer: (The information provided here is being provided for information only. It is important to note here that investment in the market is subject to market risks. Always seek expert advice before investing money as an investor. ABPLive.com does not advise anyone It is never advisable to invest money here.)

Also read: Big news related to HDFC Bank! Will buy stake in this bank, impact on shares may be visible on Monday